Shrinking Talent Pools Mean Shifting Hiring Strategies

Are you shifting your hiring strategies to accommodate shrinking talent pools? With a tight labor market, HR departments need to be prepared to win potential workers from company competitors. Read this blog post from UBA to learn more.


The labor market is tighter than ever, so people in hiring capacities need to be ready to win potential workers from competitors.

According to Fast Company, companies focused on hiring recent grads should be prepared to answer questions about flexibility, collaboration, professional development, how success is measured, and opportunities for giving back. A mindset shift from the challenges the tight market creates to the opportunities it provides to attract just the right talent may just help companies make needed innovations to their hiring practices and even company culture.

With full employment, staffing agencies have to get creative as the pool of qualified talent is limited. Add in changing visa and immigration laws and the pool is even smaller. Companies seeking talent are frustrated, and staffing agencies are working harder to appeal to the remaining talent. Workforce magazine traces one solution: investing in training programs. Helping candidates upskill can mean helping fill hard-to-fill roles with the same pool. Called a “build-your-own-talent” approach, staffing agencies report focusing training on skills proving harder to source with a promise of commitment to work for a company for a set amount of time.

This all helps explain why recruiting is now a major focus for the C-suite, according to HR Dive. For HR, this means ensuring everything from a positive, proactive hiring experience to showcasing a company as an employer of choice in recruitment, and also shifting strategies toward “total talent acquisition,” which means considering full-time employees as well as flexible, contingent, and project-based workers.

Shifting hiring and recruiting strategies will be hallmarks of this tight labor market, so finding ways to win, train, or retain talent will be what makes the difference for some employers.

Fast Company
These are the most common questions that college grads ask employers.

Workforce
Sector Report: Staffing Providers Opt For ‘Create Your Own Talent’

HR Dive
Study: Shrinking talent pool has recruiters shifting strategies

SOURCE: Olson, B. (16 October 2018) "Shrinking Talent Pools Mean Shifting Hiring Strategies" (Web Blog Post). Retrieved from https://blog.ubabenefits.com/shrinking-talent-pools-mean-shifting-hiring-strategies


Culture is key to attracting younger talent, but you can make it mutually beneficial

Did you know: Millennials are more likely to look for another job than any other generation in the workforce. This creates a golden opportunity for employers to recruit those employees. Read on to learn more.


Millennials with jobs are more likely to be looking for a new job than any other generation in the workplace, according to a Harvard Business Review article by Brandon Rigoni and Amy Adkins. They report that six in ten millennials are ready to jump ship at any given time.

This is a challenge for keeping workers, but it’s also a golden opportunity for recruitment. For the most part, these are bright workers who are deconstructing the great American job search.

Firms can seize this opportunity by honing their HR brand to appeal to younger generations and balancing this with assessments that assure a good match with most new hires.

Compensation is still important, but millennials are looking for jobs that are in sync with their values and can help define who they are. Getting hired has become a matter of personal identity.

As an employer, you are being evaluated more than the candidates. How will your firm make the cut? And if you do, will you hire the right people?

Major corporations have overhauled their approach in the scramble for talent.

  • General Mills began using virtual reality headsets to allow candidates to see themselves working inside General Mills, including using the company’s gym.
  • Two Volvo engineers recently built a Baja racer for collegiate competitions to attract young engineers to the legacy truck builder.
  • General Electric’s humorous “What’s the Matter with Owen” television campaign said bupkis about GE products. Instead, Owen touted the company’s geek chic HR brand as a bespectacled new employee being effusive about his job of programming life-changing technology to help people.
  • McDonald’s eschews traditional media to engage 16 to 24-year-old candidates via Snapchat, offering “Snaplications” and video clips of young McDonald’s employees talking about their jobs.

Not everyone can serve up cold brew coffee in a corporate cafeteria. Still, there are practical steps most firms can take to enhance their HR brand for millennial and Gen Z values.

Does your organization operate with a high degree of transparency? Is it socially responsible? Do employees have paid leave for volunteer work? Are young team members valued and encouraged to contribute to relevant and visible projects and products?

Are there ways to present your products and services to be more relevant and important to society? For example, a textile manufacturer might not actually make exciting products anyone can buy, but its fabrics are used in the space program or to save lives in emergency rooms. Maybe a law firm has a pro bono clinic for low-income families.

Yes. HR needs to make your employer brand attractive to these talented but fickle job seekers, but this doesn’t mean that everyone who’s attracted to your organizational hipness is going to be cool for your company.

There are two tools to make sure both parties get what they want. The first is assessments.

Talent acquisition assessments greatly improve your odds of hiring an individual who is well matched to your company’s needs. The best are scientifically valid and EEOC compliant, focusing on the candidate’s motivation and likely work traits as compared to the job description. You’ll save a lot of money in not having to re-hire for a position.

The second tool is the “Shared Success Model,” which is a process hiring managers can establish that aligns individual development plans with organizational strategies to identify where overlap exists and where there may be gaps.

It has five components:

  1. Individual needs—What is important to the candidate, both professionally and personally? What aligns with their values and interests?
  2. Individual offer—What value does the organization bring to the candidate?
  3. Company needs—What does your organization require for success now and in the future? What do you need from your leaders and employees?
  4. Company offer—What is your corporate value proposition to the candidate? What opportunities do you provide? What culture do you provide?
  5. Plan—Analyze the gaps and overlap between each quadrant. Develop and implement a plan that balances your grid for shared success.

As younger candidates seek more of a cultural match, the Shared Success Model is a good way to make sure the culture you promise is a culture that supports your mission and business model.

SOURCE: Warrick, D. (8 October 2018) "Culture is key to attracting younger talent, but you can make it mutually beneficial" (Web Blog Post). Retrieved from https://www.benefitspro.com/2018/10/08/culture-is-key-to-attracting-younger-talent-but-yo/


U.S. Unemployment Drops to Lowest Rate in 50 Years

The U.S. unemployment rate fell to 3.7 percent in September, the lowest it’s been in 50 years. Read this blog post to learn how this is affecting the U.S. labor market.


Unemployment in the U.S. fell to 3.7 percent in September—the lowest since 1969, according to the Bureau of Labor Statistics (BLS).

The low jobless rate, down from 3.9 percent in August, is further evidence of a strong economy—employers added 134,000 new jobs in September, extending the longest continuous jobs expansion on record at 96 months. The continued gains run counter to economists' expectations for a significant slowdown in hiring as the labor market tightens. Through the first nine months of the year, employers added an average of 211,000 workers to payrolls each month, well outpacing 2017's average monthly growth of 182,000.

"This morning's jobs report marked a new milestone for the U.S. economy," said Andrew Chamberlain, chief economist at Glassdoor. "With good news in most economic indicators today, it's likely the economy will continue its march forward through the remainder of 2018."

Cathy Barrera, chief economist at online employment marketplace ZipRecruiter, pointed out that the jobless rate ticked down for all education levels. "Anecdotal evidence has suggested that employers have experienced labor shortages for entry-level positions, and the decline in unemployment for these groups reflects that," she said. "More of those joining or rejoining the labor force are moving directly into jobs, reflecting the high demand for workers."

The sectors showing the strongest jobs gains in September include:

  • Professional and business services (54,000 new jobs).
  • Healthcare (26,000).
  • Transportation and warehousing (24,000).
  • Construction (23,000).
  • Manufacturing (18,000).

"Retail job losses—20,000 jobs—were widespread, and the leisure and hospitality sector lost 17,000 jobs, largely confined to restaurants," said Josh Wright, chief economist for recruitment software firm iCIMS, based in Holmdel, N.J.

"We can clearly point to a slowdown in retail trade for the dip in [overall] payroll numbers in September," said Martha Gimbel, research director for Indeed's Hiring Lab, the labor market research arm of the global job search engine. "Retail trade had a strong first half of the year but has slowed down in recent months. In addition, recent Hiring Lab research saw a slight dip in the number of holiday retail postings, suggesting that the sector may struggle in months to come."

Prior to September, employment in leisure and hospitality had been on a modest upward trend and the losses last month may reflect the impact of Hurricane Florence.

The Department of Labor said it's possible that employment in some industries was affected by Hurricane Florence which struck the Carolinas in September. Nearly 300,000 workers nationwide told the BLS that bad weather kept them away from their jobs last month.

"That's far below the level in September 2017 amid hurricanes Harvey and Irma, but significantly above the average of about 200,000 over the prior 13 years," Wright said. Upward revisions are likely, he added.

Wages Stubborn but Rising

In September, average hourly earnings for private-sector workers rose 8 cents to $27.24. Over the year, average hourly earnings have increased by 73 cents, or 2.8 percent.

"That's down slightly from the 2.9 percent pace last month, but consistent with a steady upward trend in wage growth we've seen as the job market tightens and more employers face labor shortages," Chamberlain said. "We expect to see that pace continue to rise throughout the holiday season, likely topping 3 percent within the next six months."

Glassdoor has recorded strong wage growth in tech-heavy metropolitan areas such as San Francisco, New York and Los Angeles.

"If the true wage growth rate is at or below 2.8 percent year-over-year, it is disappointing that it is not growing faster," Barrera said. "Given how tight the labor market has been not only with overall unemployment below 4 percent, but particularly so at the entry level, we would expect wage growth to be higher. The labor turnover numbers suggest that mobility is lower than it historically has been in periods where unemployment is very low. This is one reason wages may not be rising as quickly as we'd expect."

Labor Force Participation Stalled?

The nation's labor force participation rate held at 62.7 percent.

"Looking at the labor flows data, the rate of movement of the civilian population into the labor force hasn't moved much in the last couple of years, however, more of those folks are moving directly into employment rather than into unemployment," Barrera said.

Wright noted that the number of new labor force entrants and reentrants going directly to unemployment was just 33,000. "This raises interesting questions—whenever we get a recession, how long will these reentrants and new entrants continue searching for jobs before leaving the labor force?" he asked.

The percentage of the population in their prime working years with a job also held around 79 percent, where it's been for about eight months, Gimbel said, adding that the measure suggests that the number of workers remaining to pull into the labor force may be exhausted.

"The share of the labor force working part-time but who wants a full-time job unfortunately ticked up," she said. "Any remaining slack in the economy may be concentrated in part-time workers who want more hours."

SOURCE: Maurer, R. (5 October 2018) "U.S. Unemployment Drops to Lowest Rate in 50 Years" (Web Blog Post). Retrieved from https://www.shrm.org/resourcesandtools/hr-topics/talent-acquisition/pages/us-unemployment-drops-lowest-50-years-bls-jobs.aspx/


How to evaluate an applicant tracking system

With unemployment rates at a 17-year low, competition for talent is fierce. Applicant tracking systems (ATS) are supposed to fix any inefficiencies in your recruiting process that would otherwise be overlooked. Continue reading for more information.


Unemployment is at 3.9%, a 17-year low. Competition for talent is fierce, especially when you’re trying to hire sellers, mid-level managers, professional staff and skilled labor. When hiring gets this tough, inefficiencies in your recruiting process that could otherwise be ignored will become code red emergencies.

Applicant tracking systems (ATS) are supposed to fix those problems. Some do; many don’t. To tell the difference, HR professionals must do their research. Here are the three most important questions to ask before you invest in an ATS.

1. Will the ATS help or hurt my employment brand? If you’re not an employee at Google or Apple, you’ve probably daydreamed about having your own nap pod in Silicon Valley or being toted around in an automated car. You know the amazing benefits and the free-spirited culture at these organizations. That’s employment brand. Granted, not every organization can hope for Google-level brand awareness, but every company — for better or worse — has a brand of their own, made up of every interaction and detail of the recruiting and hiring process.

See also: LinkedIn voice messaging aims to connect HR with job seekers

You should know that most ATS are made by software engineers, not recruiters. The downside there is that most systems don’t deliver a candidate experience designed to convey an impression of what it would be like to work for your company. If your ATS isn’t helping bolster your employment brand, it’s not working hard enough.

To ensure that candidates can get a feel for your company culture before they even submit an application, you’ll want to find an ATS that can offer fully-branded career pages that match your website. This means having the same colors, fonts, brand messaging and imaging will be crucial to your employment brand. And this is only the beginning. Your ideal ATS should allow you to integrate with major job boards and social media platforms (branding 101: Hang out with the cool kids), allow for one click application submission through mobile devices and keep the application process all in one browser No one wants their employment brand to be “clunky” and “unfriendly”.

2. Will the ATS help speed up the process or will it slow us down? Recruiters and hiring managers either love or hate their ATS. There’s not much middle ground. That’s because they often have to invent ingenious workarounds to use the system, which drives them crazy because it’s time wasted.

When searching for the right ATS system, make sure that it can provide customizable email templates for hiring teams during the recruiting process. It’s important to remember that the system should allow you to send those emails in bulk to potential candidates. You need to be able to set reminders and schedule alerts for users to follow up with candidates or completed tasks. This ensures that you’re saving time and no candidate gets lost in the ether.

Know that dashboards are a great way to get a bird’s eye view on the recruiting process but they’re not the end all. Plenty of HCM providers will have flashy demos and dashboards that seem to work flawlessly, but after implementation you’ll be left with a clunky and glitchy product.

See also: 7 Ways Employers Can Support Older Workers And Job Seekers

To avoid that outcome, ask these questions during your search: Can we see the step-by-step process for reviewing applications, approving candidates, and moving them through interviews? Look beyond the demo screens. You want to see how the system really works, step by step. Can we import and export candidate information? How are potential candidates scored?

3. Does the ATS offer compliance and reporting capabilities? This one’s a biggie. Recruiting and hiring compliance is complex, and so reporting and analytics is a must-have. You need to be able to drive recruiting and hiring decisions in real-time with powerful analytics rather than sloppy excel sheets and poorly filed assessment papers. An ATS will allow you to quickly view the metrics that matter to you, see where your best candidates are coming from, find bottlenecks and catch missed opportunities. With clear and easy to use reporting features that captures all pre-hire compliance data in one place, you’ll never have to worry about fines or tarnishing your reputation.

Of course, there’s plenty more you could ask. Implementation, data security, mobile capabilities and ongoing service and support are all tires worth kicking. But this initial list of questions is a great place to start. Finding and hiring top talent requires lightning-fast action and decisions. When you’re shopping for an ATS, however, it pays to slow down long enough to get the facts.

SOURCE: Neese, Bill (12 September 2018) "How to evaluate an applicant tracking system" (Web Blog Post). Retrieved from https://www.benefitnews.com/opinion/how-to-evaluate-an-applicant-tracking-system


LinkedIn voice messaging aims to connect HR with job seekers

Are you looking for new ways to connect with potential hires? Connecting with applicants is becoming more complex and interactive. Read this blog post to learn more.


Connecting with job applicants has become more complex and interactive since the days when a single telephone number and e-mail address were displayed at the top of a candidate’s paper resume. HR professionals are continually looking for more active ways to communicate with potential hires.

Now they have another tool to allow them to connect.

LinkedIn announced last week it is rolling out a free messaging service to its 562 million users. The service allows job seekers and HR pros to dictate and send voice messages via the LinkedIn mobile app and receive them via the app or the web.

LinkedIn Messaging users can record and send a voice message up to one minute in length and review the message before hitting the send button.

“People speak about four times faster than they type, making voice messaging great for explaining longer or more complex ideas without the time and involvement of typing and editing a message,” according to LinkedIn. “It’s also helpful for when you’re on the move and don’t have time to stop and type.”

The LinkedIn feature can help HR managers determine if a job candidate is truly interested in the position that is waiting to be filled, according to Kimberly Schneiderman, senior practice development manager for RiseSmart, an outplacement services provider with headquarters in San Jose, California.

“People like to hear tone of voice and their energy from both the job seeker and job candidate side,” she says. “HR wants to hear that the candidate is interested and is eloquent — and oftentimes that comes through verbally,” she says.

LinkedIn agrees, saying that “it’s easier for your tone and personality to come through, which can sometimes get lost in translation in written communications.”

See also: Smiley faces and thumbs up? Texting, emojis enter the job interview

With unemployment at a record low in the U.S., employment experts agree that this is a job seeker’s market. Using social media for job hunting is now the norm. According to business consultant and author Peter Economy, 79% of job seekers use social media in their job search, and this number jumps to 86% for younger job hunters. He adds that 45% of job seekers use their mobile devices to search for a job at least once a day.

But not all new gadgets take hold in the HR world, warns Schneiderman, who says she has seen innovations like video resumes that were proposed in the 1990s fizzle out. “Now we see video interviews,” she says.

“Any tool can be useful so long as people use it,” she says. “We see an ebb and flow with these new tools and some stick and some don’t.”

LinkedIn’s voice messaging feature is available on its app on the iOS and Android platforms. It will be available globally to all members in the late summer.

SOURCE: Albinus, P (9 August 2018) "LinkedIn voice messaging aims to connect HR with job seekers" (Web Blog Post). Retrieved from https://www.benefitnews.com/news/linkedin-voice-messaging-technology-connects-hr-job-seekers?tag=0000015f-0970-de2a-a7df-8f7ee7d20000


Everything benefits managers need to know about Generation Z

Say hello to Generation Z. Yes, they have some similarities to Millennials, but they have they own thoughts and attitudes when it comes to work and benefits. Read this blog post to learn more.


Just when you thought you had finally figured out the millennial generation, there’s another young cohort of professionals entering the workforce. Sure, they’ve got some similarities to tech-focused millennials, but they have plenty of their own attitudes and opinions about money, relationships and, of course, work and benefits. Meet Generation Z.

Generation Z was raised in a post-9/11 world, following the dot-com boom and bust and during the midst of the Great Recession. There’s no doubt that these world events have colored the way they think and the way they work. Generation Z is a large cohort of about 72.8 million people and about 25% of the population. It’s a generation that employers will need to understand to create meaningful relationships. Here’s what you need to know.

They’re true digital natives. Generation Z was born between the 1995 and 2010, which makes them the first truly digital native generation. By the time they were heading off to Kindergarten, the internet had reached mainstream popularity and Mark Zuckerberg had already launched Facebook across college campuses.

Like many of us, Generation Z is rarely without their phones. But unlike your older colleagues, Generation Z may be more connected than ever — documenting their days on Instagram Stories and Snapchat, and messaging friends by text and other messaging platforms.

However, they’re also a relatively private bunch. Rather than broadcasting their lives on Facebook (like their parents, aunts, uncles and grandparents), they favor networks that allow for privacy. Snapchat snaps disappear, as do Instagram Stories. Gen Z also gravitates toward apps like Whisper, an anonymous social network for sharing secrets.

Here’s the takeaway for HR pros: Rather than seeing this as a barrier to communication, look at it as an opportunity. Try using text message reminders for open enrollment deadlines or creating a Slack channel for benefits communication, in addition to email and paper updates.

They’re seeking financial security. Generation Z grew up during the Great Recession, during which they may have seen their parents lose their jobs or deal with serious financial hardships. Because of this, Generation Z is focused on financial stability.

Unfortunately, many Gen Zers may join your company drowning in student loan debt from college. Consider offering benefits that help them get out of debt and begin saving for the future. Student loan debt repayment benefits with platforms like SoFi or Gradifi provide appealing avenues to pay off debt faster. You can also promote tax-deferred savings programs such as a 401(k) or health savings accounts to minimize their tax liability and maximize savings opportunities. These benefits may also appeal to millennials struggling with student loan debt and the prospect of saving for retirement — all while they start families.

Financial wellness benefits are attractive to all of your employees — Gen Z included. Consider partnering with local banks or credit unions to provide other savings options and financial education. Make this education appealing to everyone by providing it in different formats — in-person for anyone to attend, as well as on-demand webinars or Skype meetings for those who appreciate a more interactive experience.

Gen Z wants to actively participate. Generation Z is the most connected generation yet; they’re used to Googling an answer before you can finish your question or chatting with their friends throughout each day.

This hyper-connectedness lends itself to more interactive workplace meetings. Keep your Gen Z employees engaged and garner feedback by incorporating polls into your meetings, or creating recordings and presenting to computers and smartphones using a platform like ZeetingsPresentain or Mentimeter.

Whereas millennials were known for their interest in collaborating with each other, Gen Z wants to own their work a little bit more and compete against colleagues. Use this to your advantage to introduce gamification into your programs. Platforms such as Kahoot cannot only help you create some fun competition, but it can improve information retention.

They have a surprising communication preference. We’ve established that Generation Z is a hyper-connected cohort. But research uncovered one surprise about this generation’s preference for feedback: they prefer to be in-person. Use this knowledge to mentor your managers who will deliver feedback, and use it to make your benefits more appealing, too. For example, a confidential advocacy program with phone, email and chat options can be a great source for Gen Zers who want more information on their benefits.

While not everyone in this age group will conform to these attitudes and feelings, it can be helpful to pull back the curtain and understand how this generation could be different from millennials, Gen Xers and baby boomers.


5 great, underutilized places to promote your recruitment content

Are you promoting your recruitment content on these sites? Read on to learn about these 5 underutilized places to promote your recruitment content.


All your time and effort invested in brainstorming great recruitment content ideas and creating interesting and useful recruitment content for every step of a candidate's journey will be wasted if you don’t promote it.

Many HR professionals publish their recruitment content on their company’s career sites and job posting sites.

They also share it on social media. They know that if they want to be successful at promoting their employer's brand on social media, they have to learn all the tricks of recruiting on Facebook and create an outstanding LinkedIn Company Page.

However, there are many other places where you can promote your recruitment content to maximize its reach and achieve better ROI.

5 great, underutilized places to promote your recruitment content

Here is the list of the 5 best underutilized places where you can promote your recruitment content for free:

1. Your employees’ social media profiles

Asking your employees to share your recruitment content on their personal social media profiles is one of the most effective tactics for promoting your recruitment content. Recruitment content shared by employees receives 8 times more engagement than content shared by companies.

2. Online forums

Online forums are very effective, but often overlooked place to promote your recruitment content on. You can choose between numerous different forums, from general ones to those dedicated to special industry areas or any other topics.

3. Blogs

Blogs are another relatively underutilized place where companies can promote their recruitment content. Do a little research to find out which blogs your candidate persona regularly follow and offer to write a guest blog post.

4. University websites

If you’re looking to attract top young talent, then university websites are your go-to places for promoting your recruitment content. Many universities and colleges offer an opportunity for employers to advertise their recruitment content completely free of charge.

5. Company review sites

Online company review sites (such as Glassdoor and Great place to work) are a perfect place to promote your recruitment content and enhance your employer brand. According to Glassdoor, 54% of online job seekers read company reviews from employees.

Martic, K. ( 30 July 2018) "5 great, underutilized places to promote your recruitment content" (Web Blog Post). Retrieved from https://hrtechweekly.com/2018/07/30/5-great-underutilized-places-to-promote-your-recruitment-content/


4 perks to make your employees' lives easier and less stressful

Recruit top talent with ease and confidence when considering these tips on attractive, creative and innovative employment perks.


A 2016 survey from Glassdoor found that 57 percent of people looking for jobs said benefits and perks are among their top considerations when weighing offers. So how can a company stack the deck in its favor when recruiting top talent? Although some companies limit their benefits packages to traditional offerings such as health insurance, 401Ks and paid time off, a today’s forward-thinking employers know they need to find more creative ways to offer benefits that make a genuine difference in employees’ day-to-day work and personal lives.

As competition for employees intensifies, the race to improve employer-based services is likely to result in better options for employees. Unconventional benefits options come in many shapes and forms, but they share one thing in common: the goal of saving time for employees, reducing their stress, and ultimately improving their health and satisfaction at work.

All other things being equal, companies that offer innovative perks that speak to the well-being of their employees are more likely to attract and retain the top talent in their field. Here are a few such perks to consider.

Expectant-parent counseling

You’ve thrown the baby shower, cut the cake, helped carry staff gifts to the car—and you’ve explained the company’s parental leave policy in detail. As you wave Julie from accounting off with best wishes, you’re confident she’ll come back to her desk in a few months’ time.

But the truth is that 43 percent of women who have babies leave the workforce permanently within a matter of months. Many say it’s because they don’t have adequate support at home to enable them to resume their careers. That is why companies like Reddit and Slack use a service called Lucy that provides expectant employees help before, during, and after parental leave, including 24/7 messaging and one-on-one sessions that can be done in the home or online.

As Reddit VP of People Katelin Holloway put it, “It’s not enough to simply offer parental leave; every child and family is different and has independent needs.” By helping expectant parents find resources that meet their specific needs, you’re making an investment in your workforce that pays enormous dividends in retention, productivity, and morale.

Caregiving support

A Gallup survey revealed more than 1 in 6 full-time or part-time American workers has difficulty balancing caring for elderly parents with their work commitments. This results in decreased productivity and frequent leaves of absence. Companies can help their employees cope and stay engaged with their work by providing concierge services that offer amenities such as taking elderly parents to doctor’s appointments and eldercare coaching when choosing between assisted living options.

To help reduce stress (and retain highly specialized employees), take a cue from companies like Microsoft and Facebook, which provide caregiver paid-leave programs to help employees care for ailing family members or sick relatives.

Dry cleaning at work

Sometimes it’s the little things that save time during the workday that can push the needle in your favor as a potential employer. It may sound trivial, but company-provided dry cleaning is a perk that’s proving to be a big draw in workplaces from Wall Street to Silicon Valley. Service providers pick up employees’ laundry or dry cleaning items from work and return them to a designated employer closet in their office building—one less errand, and no more lost tickets. “People have lives to live, so I try to make it easy for them to deal with any of those personal errands that could take up time for them,” said Experian CEO Craig Boundy, speaking about his company’s employee benefits programs in an interview with the The Orange County Register.

Car maintenance and service

According to the U.S. Bureau of Labor Statistics, the average American household owns 1.9 vehicles and spends around 1.5 percent of its annual income on auto maintenance and repairs. Cars are a significant investment for most of us, so the more you can help potential employees save time and money on maintaining their vehicles, the more tempting you’ll become as an employer. Growing numbers of innovative companies provide car repair services to help employees save money, find the best quality mechanics, and reduce stress associated with the entire process.

Some firms also offer on-site car wash services, giving employees peace of mind and a positive outlook as they drive home after work. Several big Silicon Valley corporations —including eBay, SanDisk, Cisco, and Oracle—use BoosterFuels to fill employees’ gas tanks while they’re at work. It saves employees time and protects them from potential accidents or robberies at gas stations.

SOURCE:
Weiss Y (31 May 2018) "4 perks to make your employees' lives easier and less stressful" Web Blog Post]. Retrieved from https://www.benefitspro.com/2018/05/11/4-perks-to-make-your-employees-lives-easier-and-le/


Higher Satisfaction Through Higher Education

Offering educational benefits as part of your benefits program is a sure way to reach employee satisfaction. Plus, better-skilled workers means a better work environment! Read more about higher satisfaction through higher education in this article from our partner, UBA Benefits.


When evaluating employee benefits, essentials such as health and dental plans, vacation time and 401(k) contributions quickly come to mind. Another benefit employers should consider involves subsidizing learning as well as ambitions. Grants and reimbursements toward advanced degrees and continuing education can be a smart investment for both employers and employees.

Educational benefits are strongly linked to worker satisfaction. A survey by the Society for Human Resource Management revealed that nearly 80 percent of responding workers who rated their education benefits highly also rated their employers highly. While only 30 percent of those rating their higher education benefits as fair or poor conversely rated their employer highly.

These benefits are popular with businesses as well. In a survey by the International Foundation of Employee Benefit Plans, nearly five of six responding employers offer some form of educational benefit. Their top reasons are to retain current employees, maintain or raise employee satisfaction, keep skill levels current, attract new talent and boost innovation and productivity. Tax credits offer additional advantages. Qualifying programs offer employers tax credits up to $5,250 per employee, per year.

At the same time, companies should offer these benefits with care as they do pose potential pitfalls. Higher education assistance can be costly, even when not covering full costs. Workers taking advantage can become overwhelmed with the demands of after-hour studies, affecting job performance. Also, employers would be wise to ensure their employees don’t promptly leave and take their new skills elsewhere.

When well-planned, educational benefits will likely prove a good investment. Seventy-five percent of respondents to SHRM’s survey consider their educational-assistance programs successful. To boost your employee morale, skill levels and job-satisfaction scores, consider the benefit that may deliver them all, and more.

Source: Olson B. (10 April 2018). "Higher Satisfaction Through Higher Education" [blog post]. Retrieved from address http://bit.ly/2HKf7MT