The competition for talent in the heavy industrial market is as tough as we’ve ever seen. Fortunately, there are steps you can take to help you to overcome a labor shortage. A high-paying career isn’t the only thing that candidates are looking for anymore. More job-seekers are looking for opportunities with companies that offer unique perks, so companies should take advantage of this trend by assessing what they offer and seeing how they can improve. Below are three signs you should invest in company perks along with what’s really important to employees right now.

1. Lagging Morale

Poor morale can be a frustrating thing to overcome once it takes root within an organization. It usually starts with an increased number of employee complaints and can even lead to decreased productivity. Lagging morale tends to arise in organizations where employees are not encouraged to be creative, don’t feel supported, and aren’t given the tools they need to achieve their goals. So, it’s important to make sure you have the basics covered first. Then go on to provide support in unique ways such as a workplace wellness program that includes a gym membership and discounts on healthy products. Or offer a certain amount of leave for community involvement. You can also take a survey to see what kind of perks matter most to your team.

2. High Turnover

Struggling to retain employees is another common indicator that your employee perks aren’t competitive enough. You have to find the root of the problem concerning why people are leaving your organization before you can fix it. In addition to comprehensive healthcare and generous maternity/paternity leave, many workers are looking for flexible schedules and remote work opportunities. Some organizations allow people to work from home on Fridays. Others offer a more relaxed dress code for their employees. Many companies provide catered meals on certain days, and have office snacks available at all times.

3. Decreased Productivity

A decrease in productivity is a hard pill to swallow but it can be fixed. If your employees are unengaged or dissatisfied, then that will likely lead to reduced productivity as well. Investing in perks is a cost-effective way to ensure that they enjoy their work. You can show them they are valued by offering gift cards, discounts, and self-care incentives. Here are some other recommended perks that successful leaders are offering to their employees:

  • Financial Wellness Programs – Financial security is important to your employees. You can help in a variety of different ways including having guest speakers on investment topics or offering discounts on financial management software.
  • Wellness Days – More candidates are health-conscious than ever before. Wellness days are a great way to show your team they are appreciated. Offer massage, pedicures, and meditation sessions.
  • Profit-Sharing Plans – Sharing some of the financial successes of your company with employees will encourage them to meet their goals.

Are you looking for top talent in the Specialty Chemical, Plastics, or Animal Health industry?

Contact us to discuss how we can bring top leadership talent to your team. Boaz Partners is a premier executive search firm focused on the direct recruitment of executives and professionals for the specialty chemicals and plastics space. We are your partner, and our focus is on custom recruiting solutions.

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