Tuesday, June 21, 2016

Sweeten the Deal

There is nothing worse than going through the hiring process, finding a candidate who feels like an ideal fit, and then making an offer only to be told they have decided to go another direction. It’s like hitting a wall, being forced to take 12 steps back and re-evaluate everything. And the biggest issue is that from that point forward, no candidate ever seems as appealing as the one who got away.
One of the best ways to avoid this situation is to have a streamlined hiring process that allows you to make fast decisions when the right candidate comes along. Too much time passing between an interview and an offer just gives your candidates the chance to explore other opportunities, which as you’ve probably learned, can result in your company losing out.
But even quick offers can fail if they aren’t the right offers. Extending a competitive salary offer is obviously important, though it’s not the only way to appeal to the talent elite who may already be getting wooed elsewhere.
Here are some perks you should consider including in your hiring packages to sweeten the deal; because a competitive offer is one that is hard to say “no” to.

Medical Benefits
It’s no secret that healthcare in this country is becoming a growing concern among most Americans, and with good reason. Costs have risen at a frightening rate over the last 20 years, and many families struggle to pay premiums and deductibles. While having a quality health care plan isn’t necessarily an incentive directed only at your top recruits, it is one that can help you draw in the best talent across your organization. Next to salary, potential employees are most likely to ask about health care—be sure your plan is one that measures up.

A growing number of workers today suggest a healthy work/life balance is a priority of theirs. Obviously, not all positions are created equal, and flexibility in the work place isn’t always possible. But when it is? Allowing for non-traditional work schedules, or the ability to work from home occasionally, can be a huge incentive for employees hoping to have it all. And what’s more, plenty of companies are starting to realize that allowing for that flexibility actually results in higher productivity and quality turnout.

Paid Time Off
Along with achieving that ideal work/life balance, most employees care a great deal about their paid time off. And research has continuously found that allowing for that time off boosts morale and productivity, making it a no-brainer to craft hiring packages that are generous in this perk.
Other incentives might include tuition reimbursement or a moving allowance, depending on your employee’s personal circumstances. And while providing a competitive offer right out the gate is important to sealing the deal, many of these things can be negotiated in a counter-offer if your candidate doesn’t seem as impressed as you might have hoped.
One trick to keep in mind: when presenting the offer (or counter-offer), highlight the total compensation being offered in the package. Not just the salary, but also the monetary value of all the benefits included. This will help your candidate to understand the true worth of what is being offered, which can sometimes dispel any hesitancy they may be feeling.

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