Companies are scrambling to fill positions, but there are not enough strong candidates. This inability to attract top talent can hamper your company’s growth and profitability—and seriously weaken your competitive advantage. To combat this, companies are offering new benefits to entice job seekers, including increased compensation, flexible schedules, and the chance for remote or hybrid work. However, many are failing to provide adequate opportunities that most employees say they want: professional development.
Reimagining your company culture and adding new benefits will help attract and retain the top talent needed for organizational success. By reducing the high cost of hiring and onboarding replacement workers and assisting employees in developing essential skills for the roles they are in now and where they would like to be in the future, organizations will see improved morale, productivity and a cost savings. When utilized correctly, these programs will support a company’s succession plan, which is critical for organizations to thrive in a talent shortage.
- Managing Change at a Rapid Pace
- Employee Engagement Starts With Your Company Culture
- Listening to Your Employees Professional Development Needs
- Looking Ahead
Reprinted with permission from Journal of Compensation and Benefits©Thomson Reuters. For more information visit: legalsolutions.thomsonreuters.com/law-products/