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Best of Benefits & Compensation 2023

Recruiting Daily Advisor

Benefits and compensation are an integral component of the HR space. They can directly influence retention and employee engagement, as they span the health, financial, and work/life balance spaces. While preparing for the new year, let’s take a look back at HR Daily Advisor‘s best benefits and compensation content of 2023.

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Compensation Will Drive Recruiting and Retention in 2020

Recruiting Daily Advisor

According to the report, 40% of candidates cite “higher salary” as the reason they start the job search process, followed by benefits (21%), job dissatisfaction (20%), and flexibility/lifestyle (20%). Half (54%) of Monster’s respondents say they’ve changed jobs solely because the one they had wasn’t paying enough.

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5 Ways to Recruit Top Gen Z Talent

Recruiting Daily Advisor

While older generations rarely discussed such things, a study by Monster shows that DEI initiatives are important to over 80% of Gen Z job searchers. Improve Employee Retention Employee retention is perhaps more of an issue with Gen Z than with any other generation.

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Want to Attract Recent College Grads? Try Offering This Trendy Benefit

Recruiting Daily Advisor

The Monster data finds that when prepping for the interview process, respondents admitted feeling stressed about taking a job assessment to see if the job is the right fit (55%). Monster also found that the most important factors candidates prioritize when job hunting is the location (32%) and starting salary (32%).

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The Great Boomerang

Recruiting Daily Advisor

According to a Monster poll, 4 in 10 workers indicated they left a job in the past year, and the majority of workers would consider returning to work for a previous employer. Their top reasons include additional financial compensation, benefits and work perks, and an improvement in work culture. Provide Career Growth Trajectories.

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Go Back to the Basics with Employee Benefits Statements

HRsoft

In recent years, employers have had a difficult time assessing which benefits work best to motivate and satisfy their employees. There’s been conflicting research about the efficacy of including unique perks in employee benefits statements. Employee Benefits Statements: The Difference between Benefits and Persuasive Perks.

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Worried About Brain Drain? Focusing on Older Workers Can Help

Recruiting Daily Advisor

Benefits and Risks Workplace safety firm Fit for Work points out benefits of having an aging workforce. Tips for Retaining Older Workers Monster has compiled a list of ways employers can retain their older workers. Such a plan benefits the remaining employees by letting them transition gradually into being senior contributors.

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