February 16, 2022, 0 Comments
When Year-End Bonuses Throw a Wrench in Recruiting
You find the perfect candidate and make an offer. Turns out the candidate is due a year-end bonus from their current employee, but it doesn’t hit their bank account until after the first quarter. The candidate doesn’t want to give up the bonus, but they are itching to change jobs. And, what if your company doesn’t offer year-end bonuses? Some candidates are conditioned to receive something extra during the holiday season; a thank-you for all their contributions and results during the year. In order to make your job offers more enticing and onboard your candidates as quickly as possible, you need to find other ways to encourage candidates to want to work for you. The following are some suggestions you might want to use.
Choose among these benefits and perks to include in your job offers to increase your acceptance rates.
A sign-on bonus gives employers an advantage over their competitors. If your candidate is leaving behind a potential bonus to accept your job offer, you may consider a sign-on bonus to make up for some or all of the year-end bonus the candidate would be giving up. Also, if you are faced with a tight budget, a sign-on bonus can also be a great counter to a salary or benefits package which doesn’t match the candidate’s expectations. We have seen this work quite successfully.
Flexible Work Hours
The majority of candidates want more control over their work schedules. Most rank having a flexible schedule right behind having health insurance as being their most important benefit. Many candidates even are willing to accept a job offer with a lower salary and flexible hours over an offer with a higher salary and a fixed schedule.
Remote Work Options
A significant number of candidates want to avoid having to commute to the office every day. This reduces their stress and frees up time for more productivity. The ability to handle personal responsibilities during the workday also is appealing. This allows more time to spend with family and friends after work hours.
Additional Paid Time Off
Almost all candidates would appreciate more PTO than expected. This provides more time to take vacations and make memories with family and friends. These experiences increase happiness substantially more than material objects can. In fact, many candidates would choose additional PTO over a higher salary. They come back to work relaxed, refreshed, and ready to produce.
Virtually all candidates prioritize their physical and mental well-being. This is why they want to work for employers who provide incentives such as discounts for yoga studios, meditation classes, or gyms. Services that reduce stress, such as meal kit delivery, healthy snack delivery, or subscription streaming services, also are welcome.
Home Office Budget
Many candidates who seek remote-only work would appreciate the customization of their home workspace. This may include office furniture, an office chair, a planner, or other accessories that promote productivity. Be sure to establish a set spending limit and specific vendors that can be ordered from.
Want Help with Your Hiring?
Including additional benefits and perks in your job offers makes them more enticing to candidates. Flexible work hours, remote work options, and additional PTO are attractive. Providing wellness programs or a home office budget can increase your job offer acceptance rate as well.