Candidate supply has continued to fall at the quickest rate in 20 months, with Brexit on the horizon talented candidates are reluctant to move. So, what can you do to attract the most sought-after skills and talent?
Research shows around 80% of workers would stay in a job with better benefits, rather than one that offered more pay with less or no benefits! This has led to companies becoming more creative with the benefits packages that they offer employees.
Several large companies across the UK have already made drastic changes to their benefits policies.
One of the largest global brewing companies, Molson Coors launched a new employee initiative, which offers staff up to two weeks extra paid leave annually. The ‘Life Leave’ policy was released back in July as part of the brewer’s new ‘Moments that Matter’ program, which was created to offer employees an industry-leading approach to work life balance.
Molson Coors have recognised the growing demand for flexible working policies. Their employees will be able to use the ‘Life Leave’ policy on top of existing holiday entitlement and other leave policies, including sickness and compassionate absence. ‘Life Leave’ can be used for significant moments in life, such as wedding preparation, moving house and even taking time to help a new puppy settle in at home.
Adam Firby, HR Director for UK & Ireland at Molson Coors said, “One of our driving principles is to empower our people to come to work as themselves… This mindset puts us in a really good place to embed this scheme and with our ‘Moments that Matter’ programme we hope we can continue to nurture and attract the best talent in the industry.”
Like many employers, to Molson Coors employee attrition is key. 57% of UK workers have changed jobs in search of greater job satisfaction. Therefore, if your company, like Molson Coors, embodies your core ethos and offers competitive employee benefits they can’t find anywhere else it is unlikely they will turn their back on your company.
Adam goes on to say, “the way we all work has changed. For our people to perform at their best, we recognise they need an employer that provides flexibility and understands their personal priorities.”
It is important for your business to devlope with the changing world and understand what your target audience expects from employers. Understandably small businesses may find that benefits and perks are too expensive. They may not be able to offer private medical and dental care however here are some low-cost alternatives:
- Free office snacks
- Team Lunches
- Commuter Benefits
- Gym Memberships
- Unlimited Holiday Days