This has caused a slight phenomenon in the recruitment industry whereby there are more vacancies than prospective candidates, making it all the more difficult for employers to fill empty roles. Given the shifting focus from purely monetary benefits to company culture and added benefits, total reward statements can be used to drill down effective employee recruitment strategies, and here’s how.
Improve your business’ reputation
One of the key things new recruits look for is a good reputation. If a business has a high employee turnover, word will make its way round. There are numerous employee review sites where former workers can give an insight into how they found working at a specific company, good or bad. Common negative themes include things like micromanagement or poor pay, but benefits packages are increasingly being called into question.
By completing total reward statements, it’s clear to your employees what they’re getting, and when employment reviews are being left, these perks will no doubt be listed. If a company becomes well known for its generous bonus schemes, positive reinforcement approach, and added extras like a gym membership for each worker, prospective employees will hear about it and this could attract them to apply for your business over your competitors, giving you a head start in your recruitment approach.
In contrast, if an employee isn’t clear on exactly what they’re getting from their employer in the way of rewards, this could affect their overall opinion on the company they work for; potentially hindering effective recruitment strategies and practices moving forwards.
Increase transparency with new recruits
The best recruitment strategies are those that are completely transparent. The recruitment process can be lengthy and time-consuming for employers, and the running of a department or company overall can be greatly hindered the longer a role remains vacant. One of the best ways to make the recruitment process more efficient is to clearly list what a candidate can expect should they take the job.