Use Benefits To Attract New Recruits, Says Expert
Written by Geoff Newman on 23/03/2011
An HR firm is encouraging employers to use employee benefits to attract candidates during the recruitment process.
Sheila Atwood of XpertHR’s pay and benefits division, said that benefits packages can be a great way to keep the applications coming in despite reports that many firms are struggling to offer higher salaries.
Ms Atwood said that benefits are increasingly being seen by managers as a "cost-effective reward tool". She added that managers who take time to review their benefits packages to ensure they are effective in rewarding loyalty from employees help to reinforce the value of benefits in the eyes of applicants.
"It also serves as a useful recruitment tool, as employers in the private sector are talking about recruitment again for the first time in a few years," she added.
Ms Atwood explained that many employers are now turning to benefits packages as a more cost-effective recruitment tool than offering higher salaries, particularly in light of the soaring inflation rate.
Despite the reported reluctance to offer higher wages, XpertHR’s recent survey of
the jobs market found that 70 per cent of wage deals were higher than last year, with just 11 per cent offering the same rate of pay as last year.
Geoff Newman, chief executive of flat fee recruitment agency Recruitment Genius believes that benefits are useful, but sometimes undervalued by employees.
“Employment relationships are now very transient and so candidates seem focused on short-term financial gain, rather than long-term benefits and pensions. With everyone’s pay packet worth relatively less, gym membership and healthcare schemes have less importance than a wage increase. Consequently recruiting top talent may be a mixture of both benefits and bonuses.