To establish yourself as an employer of choice, you must create a truly desirable and supportive workplace environment and company culture. Although this may require a full overhaul of your operations and brand, it is well worth the effort and time it takes. In the current work climate, employees flock to companies with excellent reputations. In fact, up to 71% are even willing to take a pay cut for their ideal job. With only 51% of American workers satisfied with their jobs, it is obvious there is plenty of room for improvement across all industries.By becoming an employer of choice, you can attract and retain top talent – and ensure they remain satisfied with their jobs and driven to maximize productivity at every turn. To get started, utilize this guide to learn more about the five characteristics of an employer of choice.
5 Characteristics of an Employer of Choice
There are many different things to consider and implement in your journey to becoming an employer of choice, many of which are dependent on your company size, type and mission. Most companies, however, can implement the five following factors into their operations to attract and retain top-quality employees in their industries.
1. Recognition
Employee recognition goes a long way in rewarding those who go above and beyond in their dedication to your company’s success. According to Forbes, great employee recognition practices help improve workers’ job satisfaction levels, reducing employee turnover rates across the board. Furthermore, employee recognition programs help build trust and loyalty to your company across the entire team. You can express your recognition and gratitude for your employees with verbal praise, non-cash rewards, lunch incentives and fun awards parties.
2. Competitive Benefits Package
A strong benefits package can help position you as an employer of choice by putting you ahead of the competition. Unfortunately, small and medium-sized business owners may lack the resources needed to create an attractive benefits package - dampening their ability to hire top talent. You can work around this potential barrier to success by partnering with a professional employer organization, or PEO. With this partnership, you can gain access to high-quality employee benefits at a competitive rate, which brings you another step closer to becoming an employer of choice.
3. Opportunity for Growth
Extending career growth opportunities to your employees shows that you are as dedicated to their success as they are to yours. The opportunities you provide should support their pursuit of advanced industry and role-specific knowledge – and the certificates to back it up. Consider providing access to additional training courses, professional development workshops and other continuing education programs. Also, consider establishing a company-wide mentorship program for your employees.
4. Social Responsibility
The current global climate demands that people find ways to practice and promote social responsibility – and they are looking to their employers for support. In fact, up to 75% of millennials expect their employer to take action in the face of serious social issues. To ensure you are doing your part, find ways to support social causes that are important to you and your company. Depending on your stance on various issues, you may want to set up donation drives and provide incentives for employees who want to volunteer. You can also establish a generous donation matching program to support the causes your employees hold dear.
5. Respect
Employees respond favorably when treated with utmost respect by their employers. When you show your employees that you respect their time and effort, you are showing them that they are valuable to you and your organization. You can also achieve this by ensuring that your employees always feel heard even if you do not implement their ideas. Giving your employees the necessary tools and oversight to complete their daily tasks also shows your respect.
Get Started in Positioning Your Company as an Employer of Choice
As you learn how to be an employer of choice, you can slowly implement the factors that will best support your success in this realm. Your efforts will pay off in improved employee morale, productivity and loyalty to your company. As a result, you will enjoy much lower employee turnover rates, which can only serve to help your bottom line. Take the first steps today to become an employer of choice in your industry.
