Hygiene factors for compensation packages

Compensation Packages

Since COVID and the increasing competitiveness of the recruitment market in the UK, we have seen salary packages and team incentives evolve considerably.

Things that were once considered perks are now hygiene factors in any job offer.

Here are 5 things that you should consider in your packages to be a competitive employer in 2022. If you do not currently have these, we highly recommend building a plan for them to get the best teams around you.

1) Learning & Development budget

One of the biggest reasons candidates do not apply for SME jobs is a concern about their formal learning opportunities. Most brands these days are allocating £500-2k per head, or c.5% salaries to development budgets to show their team they are investing in their careers. The equivalent budget allocation for leadership roles is coaching support. Whether the manager dictates the use of this budget, or it is entirely at the discretion of the individual is up to you. However not having something like this in place (and showing it off internally and externally), is not optimising your employer brand.

2) Wellness support

Like it or loath it, candidates in 2023 are highly conscious of their work-life balance and personal wellbeing.

Wellness days, mental health first aiders, budget for yoga or the gym, however it manifests itself, we all need to demonstrate that we recognise the importance of wellness in the tem and we are willing to invest in it. If you are not showcasing the initiatives you have in place, you will just lose candidates to the brands that are.

3) Work from home flexibility

In a post-covid world, no office worker expects to be coming in 5 days per week. Jobseekers are looking for flexibility from their employers to work from home at least one day per week and while they may not even use this flexibility in practice, the vast majority of good (experienced) talent will consider a lack of flexibility a deal-breaker. As part of this, the best packages include investing in the team’s work-from-home setup.

3) More than statutory holiday allowance

The extreme version of this is unlimited holiday – we are not saying this is a hygiene factor. However, we have seen more candidates than ever before push back on statutory holiday allowance only – anything less than 25 days is being challenged. Again, whether they take the holiday time or not, knowing it is there is a huge source of comfort – if it is not, it is a deal-breaker.

5) Investment in their network and community

This is one you have definitely ticked by being a member of YF Community. Candidates fear joining startups because they will not have the network and community that they build in big businesses. With work from home and a concern about ‘being alone’, this has risen up the ranks in priority. Demonstrating a commitment to supporting them through access to mentorship, networks and community is something candidates are expecting of us more and more.

Are you thinking of recruiting or would like to chat to our team about compensation packages?

Our Recruitment Team work with countless consumer goods SMEs as both advisors and recruiters and constantly hear about all sorts of new salary packages and team incentives. 

Get in touch with us today if you have any open roles or would like to talk to our team about your recruitment strategy,

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