What does it take to be the Employer of Choice?
Today’s market for high quality employees is very competitive. Things like low unemployment rates, creative pay, and benefit offerings can make it difficult for your company to stand out from other employers who are competing for the same talent.
Let’s look at what makes the top employers, the employer of choice, not only in their industry but across all industries. You may be surprised at what they are doing to be the best of the best. According to Fortune Magazine’s 2019 Top 100 Employers*, here are the top 5:
3. Wegmans Food Markets
5. Kimpton Hotels and Restaurants
So, what are they doing that sets them apart from all others? The answer is simple, they take an employee focused approach. The things they do aren’t difficult, costly, or complicated. They understand that comfortable, satisfied employees will work harder, take care of the customer base, and be loyal to their employer.
In 2018 the CEO of Hilton put on a housekeeper’s uniform only to discovered, that the uniform was heavy and difficult to work in. This spurred a companywide change that resulted in lighter, more functional uniforms for the staff.
Salesforce sets their company apart through inclusion and wellness. They strive for inclusion of all people groups in their employee base, which breeds a creative workplace with a wide variety of ideas to help customers. They also include wellness initiatives in their career objective platform. Giving employees tools for self-care and wellbeing, provides a path for healthy, satisfied employees.
You might not consider a grocery chain to be a highly desirable employer, but Wegmans is certainly the exception. They offer a variety of employee friendly initiatives that keep their employees motivated. They start with investing in their employees to the tune of $50 million per year in training and education! They also offer compressed schedules and telecommuting.
Workday is a financial and HR software provider based in California. Like any good tech company, they offer telecommuting, as well as stock bonuses for meeting work goals. Many busy families like the flexibility that telecommuting offers, not to mention you don’t have to be a California resident to work for this top tier company….and lets be honest, who doesn’t love ongoing monetary reward, through stocks, for meeting goals?
Last but certainly not least, is Kimpton Hotels and Restaurants. Kimpton offers boutique hotels and restaurants that create “magical” experiences for their guests. When employees create those magic moments, they are rewarded with internal currency called Kimpton Moments Chips. These chips are used by employees to purchase a variety of valuable items like paid days off! Kimpton also offers a gym, compressed work week, and tuition reimbursement. It’s easy to see why this company is a standout for job seekers!
As you look at each of these companies, the one thing that they don’t focus their efforts on is direct compensation. While each offers competitive starting pay, they don’t attempt to motivate employees through pay increases. All top tier employers know that it takes more than salary to create satisfied employees.
When employees feel valued in terms of work/life balance, comfort, and rewards for a job well done, you can expect loyalty and dedication. Satisfied employees will also go the extra mile to care for the customers, which in turn, means a healthy bottom line for the company, and that is win-win for everyone!
When is the last time your organization evaluated the benefits you provide? If it has been more than 3 years, it’s time to update! Here at Workforce Strategies, LLC we can help you evaluate your pay scale and benefits package. We will offer suggestions to help make your organization the top-tier employer you desire to be! Visit us at www.workforcestrategies.biz to get started.