(Time to read this Blog article is about 45 seconds)
A 13 year study shows that companies that top performers perfer to work at are 4 times more profitable than the average company. Your benefit package is a key part of your ‘sales pitch’ when you’re trying to attract top performers. Are you competitive?
First off, be clear about what the law requires you to offer and determine what you’re going to offer above and beyond that to attract top performers. Just last week a client bragged to me of his generous benefit package. When I asked for details, one of his key points was that his employees get 3 weeks vacation after 10 years of employment. This business owner is out of touch!
The thought of having to wait 10 years to get 3 weeks vacation is enough to turn off any top performer. Many businesses offer 3 week’s vacation after 5 years…and some do even better than that.
Today’s young people want to ‘have a life’ and they’re looking for a job that makes that possible. This group, the millennials, will make up half the workforce by 2020, so their reality is quickly becoming your reality. They want flexible working hours and vacation time that integrates with their life goals and commitments.
For inspiration on what you might do to become a ‘preferred employer’, look up:
- a) Canada’s Top Small and Medium Sized Employers’ at Canada’s Top 100
- b) ‘The Best Places To Work’ website.
There will be no better use of your time than to get ‘clued in’ as to what top companies are doing to attract top talent.