03 February 2006
Employers advised to focus on giving best packages
With business continuing to thrive and grow, recruitment specialist Thorpe Molloy warns that employers need to consider what they have to offer to potential candidates rather then just focusing on what the candidate has to offer them.
Claire Hedley, who heads the HR division at Thorpe Molloy, says: "Until recently the emphasis was on what candidates had to offer to businesses. While this is still a vital part of the process, it is now even more crucial that employers carefully consider the packages they offer to employees. This will help to ensure they not only recruit the right staff but that they also manage to retain them.
"Attracting and retaining staff is not always about paying the highest salary. Many people are focused on achieving a healthy work-life balance and are interested in flexible working hours or the choice of having corporate membership of a gym.
"In addition, there is growing awareness that we live in an ageing society and people are increasingly conscious of the need to make sure they are able to provide for their retirement. Therefore, employer pension contributions can be an important factor."
Employers wanting to make sure that they have the pick of the candidates in the marketplace looking for work need to ensure that the package on offer does not exclude potential candidates from the outset.
According to Hedley, most remuneration packages are made up of a combination of following components:
- Basic salary.
- Scope for salary increases and professional development.
- Flexible working hours.
- Annual leave entitlement.
- Bonus schemes and performance related pay.
- The benefits package. This will vary but may include company car or travel allowance, pension contributions, private healthcare, share schemes, lunch allowance.
- Flexibility to vary working hours or to work from home.
"Where possible, employers should be flexible" says Hedley. "For example, pension contributions will be more important to some staff, whereas others will be more interested in flexible working or the possibility that they might be awarded a bonus.
"Employers should always make sure that potential employees understand the total value of the package they are being offered rather than just concentrating on the salary figure, as this can sometimes make the difference between someone accepting or declining an offer."
The Scotsman, Recruitment Supplement, Friday, 3rd February 2006
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