In the tough tussle for talent, employers are getting more creative in finding benefits and perks to attract and retain employees. The Oneida Indian Nation in Verona recently announced a new scholarship program to help employees in the finance department obtain advanced degrees. And earlier this year, the organization opened affordable housing available to employees of […]
In the tough tussle for talent, employers are getting more creative in finding benefits and perks to attract and retain employees.
The Oneida Indian Nation in Verona recently announced a new scholarship program to help employees in the finance department obtain advanced degrees. And earlier this year, the organization opened affordable housing available to employees of its Turning Stone Resort Casino.
Iolanda Cooper, president of the Central New York Society for Human Resource Management (CNY SHRM), says her organization hears over and over again from businesses that it’s challenging finding employees.
“They are feeling that there’s been a war for talent in the area,” she says, and that has led to some more unique perks being offered or upgraded.
That starts right at job descriptions, Cooper says. Employers are taking a look at those job descriptions, and some are wondering if a degree is really necessary, she says. Many are tweaking those descriptions to allow for equivalent experience instead of a degree, which opens the position up to more applicants.
Monetary rewards continue to be a popular option, but many employers are now finding that offering sign-on bonuses isn’t enough, Cooper says. “What they’re seeing is a demand for flex scheduling.” People value that more than a one-time bonus, she says, whether its non-traditional hours or being able to work from home.
“Everyone is trying to sweeten their perks,” she says. To combat shortages in health care, many employers in that industry are looking at loan forgiveness or other assistance programs.
Other rewards Cooper has seen offered include gas stipends and even regular employer-hosted lunches. “Those are some of the ways we’re hearing employers are trying to entice employees,” she says.
Many employers have realized those benefits have to enhance the corporate and employee culture in order to retain employees. Employers need to figure out what their corporate culture is and what they need to do to support that culture, Cooper adds.
Some local industries are beginning to implement their own apprenticeship programs, while some manufacturers are working to partner with daycare providers to ensure childcare is available for all shift hours.
At the same time, employers need to be cognizant of the cost of whatever rewards they offer. That has led to a willingness to be creative and look for more than just monetary perks, she notes.
Organizations such as CNY SHRM are one resource for businesses looking for ideas on how to implement new perks or benefits, often through networking opportunities where businesses can share ideas.
Employers can also ask employees directly what they want and need to improve the culture, Cooper says. “I think the perks have definitely got to tie into the employees and where they are at,” she notes.