There were 10.5 million jobs open as of the end of November 2022, according to the U.S. Bureau of Labor Statistics. This, combined with the fact that there are only 5.7 million people unemployed and available to work means hiring is tough for businesses of all sizes and industries.
That’s why offering incentives that job seekers are looking for is vital to not only filling open positions but also filling them with the best candidate available.
First, you need to evaluate your hiring process. If your process is slow and filled with poor communication, candidates won’t stick around, they’ll find a company that is ready to hire them. To avoid this, make the interview and hiring process one week or less.
Secondly, you’ll want to make sure you improve your employer branding. We’ve all heard of business or product branding, but employer branding is ensuring you outwardly show why working for your business is worth it. This can be done on your website, social media, or through sites like Glassdoor. These are great places to share the incentives you’ll offer.
Not sure what incentives will work best? It may depend on the age of the candidates you’re hoping to hire. A recent study showed that workers between the ages 18 to 35 rank career advancement opportunities and work-life balance as being the second and third most desired incentives, after salary. Drilling down further, workers ages 30 to 35 were more interested in work-life balance than career advancement opportunities.
Getting inside the mind of your potential candidates is crucial in figuring out what incentives will attract them.
With that in mind, below is a list of incentives that you can implement to get quality candidates:
1. Competitive salary and benefits package
2. Flexible work hours and vacation time
3. Opportunities for professional development and training
4. An enjoyable and collaborative work environment
5. Career advancement opportunities
6. Signing bonuses
7. Relocation assistance
8. Onsite childcare or other child-care options
9. Referral bonuses
10. Remote/hybrid working
11. Continuing education support or tuition assistance
12. Employee stock options
13. Generous paid time off
14. Mentorship programs
15. Wellness programs – both physical and mental health focused
16. Employer-sponsored events and activities
17. In-office perks like free snacks and drinks
18. Corporate discounts and perks
Whether you are a small business or a Fortune 500 company, incorporating incentives is a great way to bring in a better-quality job candidate.
Pulse Technology is currently hiring for several positions. If you are interested in more information, please visit our Careers page.
Competitive Base + Uncapped Commission + Bonus + Auto Allowance
8 paid holidays + 1 floating holiday
Paid Time Off – enjoy your time away
You choose - HMO or a PPO with Blue Cross Blue Shield
401(k) with employer match
Short-term and long-term disability insurance
For more information about Pulse Technology please visit us at PulseTechnology.com or call us at 888-357-4277.