Today, employment benefits in the UK need to go beyond just the salary. To that avail, what are employment benefits, and why do employers provide employee benefits?
Essentially, employment benefits are incentives to work for a company that go beyond a financial perspective. These are becoming increasingly important in a number of industries, including engineering. This is because engineering is a candidate-driven sector, meaning the top talent is able to be selective about their job prospects.
There are a number of aspects that candidates assess about a position beside the salary, and any successful company needs to pay attention to these, too. Detailed below are the top reasons candidates look at the whole picture when applying for a role.
To see if they will fit in with the company culture.
A good company culture sits among the most important employee perks. After all, this can be the difference between someone tolerating their job and enjoying their job. Everyone wants to wake up in the morning and feel quite happy to go to work, which is why the company culture is so important to candidates.
Some of the things that candidates will be looking for within a company culture include a good work-life balance, recognition of achievements, appreciation of work and more. Ultimately, a company culture should work to make employees feel valued, and this will be a priority for the top talent.
To understand if the company is struggling or growing.
The benefits offered by employees allow candidates to determine whether the company they’re applying for is struggling or growing. Understandably, candidates want to feel secure in applying for a position. If it’s evident that the company is struggling, they’ll feel their role is under threat. In contrast, if the business is thriving, they’ll feel as though there’s potential to grow within the role.
Actively searching for new employees to join the company, opening new branches, and renovating the work environment all inform candidates that a company is growing. Therefore, if you are successfully expanding your business, make sure prospective candidates know about it.
They want an Employer Value Proposition (EVP).
One of the most sought-after employment benefits is an Employee Value Proposition. The EVP refers to the balance of rewards and benefits employees receive in return for their workplace performance. As previously mentioned, a competitive salary alone isn’t enough to attract and retain the best candidates. Instead, they require other incentives that aren’t necessarily financial.
A good EVP might contain additional paid time off, opportunities for career progression, recognition initiatives, support from managers and more. Skilled and qualified engineers can get a well-paid job anywhere; your EVP needs to set your business apart from the competition by providing much more than just a paycheque.
They’re looking at their career progression.
Last but not least, it’s not just the salary; candidates are assessing whether your company will facilitate their career progression. Whether you provide them with a stepping stone to progress elsewhere or you provide them with the opportunity to grow within the business, the prospect of career development needs to be there.
Engineering is a field of constant learning, with technical professionals always looking to deepen their knowledge of the sector. With more knowledge comes more employment prospects, which is why it’s important to provide career progression opportunities to candidates. The innovative nature of engineering means that no engineer wants to be stuck in a dead-end position; they want to be constantly improving themselves and propelling forwards.
Do you know how to make your prospects attractive to candidates? We can help. Contact us for further advice and guidance.