While there are many resources on the skills that employers should look for in future employees, there is very little focus on the things that candidates require from future employers. Here’s a quick list of the things that candidates value most in a new job to help you answer the big question: How does your company face when it comes to offering what candidates really want?
Also known as a company’s track record, this single aspect has shown to be extremely conducive to applicant turnout on job ads because candidates are often as concerned about a company’s past as they are of its future. A good reputation as an employer, backed by positive word of mouth and compelling employment stories can be very appealing for candidates when they are hovering over the ‘apply’ button. To learn more, read our article on the Do’s and Don’ts of Employer Branding.
2. Compensation and Benefits
There’s no denying the importance of a competitive pay package in acquiring good candidates. When switching from an old job, a pay scale jump is oftentimes the most important factor for many people. Other than competitive pay, people also give a lot of weight to attractive benefits that are offered to employees. Candidates look more favorably at companies that offer multiple healthcare solutions, sizable contributions to provident funds and pension schemes along with a decent number of paid leaves.
A company’s ‘Compensation and Benefits’ structure can be a deal maker or breaker for potential candidates because this is usually what employer comparisons come down to. Therefore, it is important to spend time on devising the right mix and advertise how each element contributes to the annual salary package.
3. Growth Prospects
The term refers to the growth of the company and the individual alike. Where the past enables candidates to build an opinion of the company, its business strategy helps them see whether it is well-positioned for the future. Candidates place a lot of value to personal growth in their career and the opportunity can only come about if they have job security.
Being able to see the foresight and viability of their employer’s strategies is key for candidates who wish to align their professional growth with that of the company. Will the company grow to a scale where I will get the resources and exposure to hone my skills? Will my job offer scope for professional and personal development? These are frequent questions candidates ask before accepting a new job.
4. Rewards and Flexibility
Other than pay and benefits, many employees appreciate additional rewards that let them know that they are valued. Although bonuses are one way of doing this, there are many non-monetary rewards out there that employers dispense to keep employees motivated. Team entertainment plans, early finishes on weekdays, corporate social events and different ‘pats on the back’ methods are just some of the countless options.
Although flexible timings are not rewards per se, they are a great way to show that you encourage your employees to strike a work-life balance, which can ultimately be very rewarding for your company. Since all candidates aim to maintain their life outside of work, this flexibility acts as a popular incentive. It also delivers a very employee-focused vibe for your company which adds to your employer brand.
For candidates, another ‘top of the list’ aspect of a new job is fitting into the company’s environment. This incorporates many things like managerial hierarchies, corporate policies and the company’s values. Corporate values convey a strong message over what the company prioritizes and whether the candidates can align their goals accordingly. Creating a culture that nurtures employee well being, encourages hands-on learning and forgives mistakes can make candidates believe that your company is where they want to be.
6. Supportive Leadership
Another crucial and valuable characteristic that is often overlooked is the role of leadership to a potential candidate. Having individuals within a company who guide, advise, instruct, and motivate their employees along the way positively influences both the culture fit and the role fulfillment of new employees. Candidates are likely to find themselves more drawn to roles or employers that are equipped with strong mentorship and leadership because this offers them the potential to develop under a more seasoned individual.
When recruiting, it’s important to keep in mind that it’s a two-way process. You will certainly be on the lookout for specific qualities that candidates must possess when filling vacancies but at the same time, those candidates will be scouting for employers that offer them the best opportunity to further their careers. Therefore, when you look to hire the most credentialed people, be mindful to not overlook whether your company offers all the necessary features to attract and retain them.
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