In today’s job market, salary is not the only sticking point for attracting top talent to your business – today, candidates want and crave more. To attract the best candidates you need to make your company culture as desirable as possible, and with young professionals claiming that work-life balance is more important than ever, your organisation needs to be enticing to reflect those changing desires.
That’s why it’s important to offer worthwhile incentives to help you attract and retain first-rate employees for your business to thrive.
Here are our top incentives you can start using today.
Internal growth opportunities show potential candidates you’re a company who’s serious about offering scope for career development. Being stuck in a dead end job isn’t attractive to most – the best candidates want to visualise a future with your company.
Show employees you’re willing to support and shape their professional career and they won’t feel the need to move on or look for new opportunities. This will increase your employee retention as well as attract better talent with the right skills for the job.
Financial incentives with stock shares
If employees know they can own equity, stock or receive performance bonuses, they’ll feel more inclined to push for greater results and be more willing to go that extra mile to make your business succeed.
The best candidates usually look for more than a simple 9-5. A financial incentive may not always be the only offering to win your ideal candidate, but this is certainly one perk that may sway their decision making.
As working habits have changed over recent years, offering flexible hours has become a widely accepted occurrence. Candidates want more freedom to set their own hours to work in harmony with their personal lives.
Offering this option could go a long way to secure that perfect candidate you’ve been looking for. However, you also need to ensure they are still achieving the results you expect and they stick to their agreed hours per day.
On the other hand, you could allow your employees to work from home – an even greater incentive for employees looking to balance their family and working lives more effectively. This can be a deal breaker for some and can increase overall job satisfaction, so it pays to consider how this could potentially work for your organisation.
Offering these options can lead to a happier and more contented workforce, which can in fact produce more efficient staff and better results for your business.
Showing trust in employees
Communicating the trust you have with your existing employees will show top candidates there is no fear of being micromanaged. They will realise you encourage an environment where creativity thrives and may feel more comfortable to share their ideas, which can lead to greater innovation within your business.
Organisations that trust their employees can increase employee morale, have a more productive workforce and decrease staff turnover.
Attracting top candidates requires offering the right benefits to the right audience as well as shaping a company culture that people want to be a part of. This will ensure you not only win the best candidates for the job, you’ll create better employee/employer relationships while encouraging them to stay for the long haul.
As an increasing number of businesses look to gain an edge over their competition, multilingual candidates are highly sought after in today’s jobs market.
When the Confederation of British Industry surveyed 300 UK firms, two thirds said they preferred employees who speak more than one language. What’s more, 28% of participants said they believed bilingual employees would help build relationships overseas.
The CBI report highlighted French, German and Spanish as the European languages in highest demand, with figures suggesting the rate of usefulness to their business at 50%, 47% and 30%.
We’ve highlighted three key reasons why multilingual candidates can add significant benefit to your business.
Reach an international customer base
If you’re looking to target specific regions across the globe, your bilingual employees will be a valuable resource to help you overcome those communication barriers. When your business has capabilities in another language, your target market automatically increases.
It can be complicated to communicate with other cultures, but a multilingual employee will know how to use the right tone to reach out and relate to the right audience. What’s key, they will know when certain cultures require a sensitive or stern approach.
Expanding your business overseas not only requires speaking and translation skills, you’ll need to master the appropriate business etiquette. For example, Chinese people will present items of importance with two hands and a slight bow. As such, an employee familiar with the culture will communicate more authentically and help you understand the fine details of doing business with that culture.
With additional language skills you’ll be able to generate geotargeted, consumer-facing content that will foster increased interactions across your marketing campaigns. This can help build and strengthen potential business relationships in specific regions, increasing the scope of who you can sell to.
Gain more skilled and effective employees
Emerging studies of the brain reveal bilingualism increases cognitive brain-power, which could mean a more productive and effective employee. The research is still ongoing, but studies suggest that a multilingual person benefits from increased problem-solving skills, expanded vocabularies, better listening and interpersonal skills.
Another study by Northwestern University revealed people who speak more than one language are able to process information at a faster rate than those who only speak one. Because they are switching back and forth between two languages, their brains are able to distinguish irrelevant information faster.
Having an employee with a smarter and faster working brain can help you expand and reach new customers more rapidly.
Improve your customer service
With a multilingual employee, you can provide better care to a more diverse consumer base. Being able to properly communicate and nurture larger demographics puts your company at a huge advantage.
Queries, complaints and interactions can all be dealt with swiftly and in the most appropriate manner according to your region specific market. Each customer experience will be more personalised to your target market as the employee will be able to interact using the individual language nuances and cultural etiquette.
It’s no secret that having a multilingual employee will allow your business to become more diverse and globally connected. So if you’re looking to achieve global expansion, hiring multilingual employees could be a crucial move for the future of your business.
Where do you stand? Do you think candidates with multilingual skills are vital for global success?
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