Beyond competitive compensation, companies looking to attract and retain employees also need to offer flexibility, development opportunities and a strong philanthropic mission, says a new survey of financial services professionals commissioned by workforce management technology provider Kronos Incorporated and conducted by Future Workplace.
While competitive wages and a good benefits package still top the list of what makes a company attractive to employees (chosen by 69 percent and 68 percent, respectively), respondents also want an employer that offers flexible work arrangements (52 percent) and opportunities for career advancement (51 percent). The majority of respondents (73 percent) say they need to see what a company stands for before joining, and 52 percent look for a company with a strong philanthropic mission.
Among the survey’s other findings:
- 80 percent of respondents wish their employer offered flexible or compressed schedules, and 37 percent would like to telecommute.
- 45 percent of those surveyed indicated they would be more engaged if shown that their work made a difference.
- Asked how their managers could best support them, the top choices were more flexibility (42 percent), greater investment in learning and development (41 percent), and help achieving personal goals (39 percent). Respondents also would like more frequent feedback (30 percent) and mentoring (29 percent).
- Asked what their employer could do to attract and retain talent, 54 percent of respondents say they would like bonuses more than once a year; 47 percent want more opportunities for recognition; 38 percent say companies should provide ongoing coaching and development; and 29 percent would like more training for managers.