Compensation is a critical factor for job-seekers and staff considering whether or not to leave their current position. However, there are three other factors that sway occupational movement more strongly than salary. For any company hoping to attract high-quality candidates or retain workers currently on payroll, adjusting these workplace issues is key.
1. Time At Home
In manufacturing businesses, every minute someone is on the floor, they are creating revenue for the company. Yet, even in these environments, businesses have found a way to let their employees have more time at home to themselves or with their families. One way includes working 10-hour days, four days each week, instead of five eight-hour days.
In many office settings, employee presence is not automatically tied to revenue creation. "Downtime" between projects or meetings is a time that the employee is compensated for although they are not directly creating profits for the company. Since many office-based positions depend upon the use of a computer, exploring telecommuting is a viable option for allowing employees to be able to use down time to spend on their hobbies, resting or socializing with family and friends. Chat apps (WhatsApp, Facebook Messenger, etc.) can help supervisors stay in touch with employees throughout the day.
With employees out of the office working remotely, this decreases (and in some cases can eliminate) the need for overhead. With the ability to meet online via Skype or other video conferencing technology, such as Highfive, even meetings of the entire staff, individual departments or subcommittees can be completed remotely.
Knowing that a position involves telecommuting is a strong attractant for many job-seekers.
Positions that allow for an employee to be creative have an inherent appeal to an individualistic society such as that of the United States. There is emphasizing of the idea that, in each project, an employee will be allowed time to voice their opinion and creative take is a powerful benefit.
Valuing someone's opinion and giving them a chance to voice it offers an opportunity for staff to feel empowered, confident and competent in their work. This is a priceless additive to any company for most employees, which is why it may influence them to stay with a company or take an offered position, even if the pay is not as high as they may have hoped.
Regardless of pay, many tenured professors tend to stay in their positions until they can no longer physically handle the demands of teaching. It is more difficult for people to think of leaving positions that seem "guaranteed" to them. This is true even when the position may not be pleasant or pay very well.
In the process of learning and growing to become stronger employees, staff members will make mistakes. Companies who hold on to their employees do so in part because they understand that they are investing in the future executives and administrators who will ensure the longevity of the brand. When employees are shown that they are being invested in, they consistently perform better and retain their position with the company.
Once a business has a reputation for helping employees to grow and become stronger assets to the company, job-seekers look at their enterprises early on in their search for a new workplace.
Any business that can offer these three things in lieu of or alongside a competitive salary can expect to minimize its vacant positions. Even when they do, the list of candidates vying for a chance to work for that company will remain strong and lengthy.