Heard It on the HR Hotline: Stay Competitive and Attract Talent

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Engagement & Retention
Recruiting & Hiring
Talent Management

Heard It on the HR Hotline

Question: We are wondering what other companies are doing to stay competitive and attract talent?

Answer: MRA published two Hot Topic surveys related to this buzzworthy topic.

In Your Competitive Edge in Attracting, Retaining and Rewarding Top Talent, close to 400 organizations tell-all when it comes to their strategies for securing and holding on to top talent.

In Compensation Besides Base Pay, over 500 organizations shared what makes their total rewards strategy complete, including emerging benefits and variable pay.

While competitive pay and employer-sponsored health insurance remain two of the most valued employee benefits, employers are starting to think out of the box for ideas to seal the deal when it comes to attracting, retaining, and rewarding employees. Here’s what some companies are offering:

  • Paying for the entire premium for an employee’s health, dental, and vision coverage.
  • Flexible work hours (and earlier close on Fridays).
  • Extra PTO to do community service.
  • Student loan forgiveness/repayment.
  • An employee well-being series with topics including caregiving, parenting issues, and household budgeting.
  • Additional money—in fact, more than 50 percent of our respondents reported that they will pay up to 10 percent above market to attract and retain top performers. Some will even go higher.

Source: MRA - The Management Association