Hiring and keeping premium talented employees is difficult to maintain in today’s current labor market. Which is why employers are now taking a more holistic approach to and offering employees more than just a competitive salary and paid vacation, they are embracing a total rewards strategy. Total rewards offer a wide range of benefits, incentives, and employee recognition in order to create an engaging work environment. So, what are some total rewards planning hacks you can offer your employees to create an awesome workplace that make employees want to stay? Check out our tips below!
Employees are always looking for an opportunity to expand their knowledge and skills, grow within their role and the company they work for. Companies can offer training programs, tuition reimbursement, mentorships, etc. Giving your employees opportunities to advance their careers is crucial for keeping them!
Recognize and Reward
This allows you to show your employees how much you appreciate them, their contributions, and all their achievements. Showing your appreciation goes beyond luncheons and redeemable points in an online store. Employees want recognition programs, incentives, bonuses, and anything to get them motivated. Check out these recognition programs you can implement: Gallup and Connecteam.
Supporting your employees’ physical and mental health is so important as they spend the majority of their days at work. You can incorporate this by offering an on-site gym or reimbursement for gym fees, counseling services, stress-management programs, monthly onsite instructed fitness programs like yoga or kickboxing, and anything else that will help create a healthy work/life balance.
It’s important to incorporate total rewards into your company to help keep and maintain talent. If you are in search of the best of the best to add to your team check out how WageScape can help you. HR analytics can improve talent outcomes by 12%. Tap into the world’s largest labor market data set and get the insights you need to compete in today’s global hiring market. Reach out to us today to learn more about how we can assist you with finding excellent talent today.