Andrew Little, Client Services Director, highlights the rise of candidate perks and benefits within the recruitment industry.
1. It’s been mentioned that candidates now seek benefits and perks of a potential new position over the prospect of a pay rise. Why do you think this is?
Candidates are looking for an employer that has high employee engagement levels. We have found that the key areas that most effect decision making are:
* Interesting work
* Ability to take ownership and responsibility for projects
* Training and Development
* Flexible Hours / ability to work from home to work around other life commitments
However, people are still influenced by money and the initial starting salary and progression/salary increases still heavily influence a candidate's decision to accept a new role.
2. What are the top three employee benefits that candidates most want?
* Ability to work flexible hours
* Ability to work from home
* Medical cover
3. How important is flexible working in 2018?
It is becoming more important especially for those who endure a difficult commute. The ability to work outside busy commuter times or to break up the week by not having to travel every day is influencing employment decisions.
4. How important is holiday allowance in 2018?
Most candidates expect a minimum of 25 days + bank holidays and this is now considered the norm.
5. Has there been a time in your recruitment experience when employee perks have been used as bargaining power between the employer and candidate? If so, please explain.
They only time this tends to happen is when someone has a guaranteed bonus or car allowance and the new employer does not have one, so often the basic salary is increased to reflect the difference in the monetary of the packages
6. Has there ever been a time when a candidate has pushed the limits of employee benefits? If so, what did they ask for?
Sometimes we deal with candidates who are looking to match a final salary pension package with a defined contribution scheme. This is not possible as many companies can no longer afford to offer this type of scheme.
7. How have clients adapted to the change in employee expectation? Has this been an easy transition or have you had to guide them?
We do advise our clients on the changing expectations of our candidates and provide them feedback on why an offer is rejected. Some clients take this information on board and use it to improve the hiring process, others are not so quick to respond to the changing expectations.
8. What difference, if any, have you seen in employee retention with the rise of perks and benefits?
To be honest I think people now expect things like company BBQs, days out, flexible working but I'm not sure how much these benefits have improved retention in the long run. I still believe that a good company that offers its employees a fun and engaging work place will always keep people longer than one who doesn't. We have seen an increasing trend in people moving more often to develop their careers, so the trick is to offer opportunity to employees before someone else does!