Did you know that there are 1.4 million more job openings currently than people are looking for employment? So if you’re trying to attract the best applicants for your job openings, how do you stand out among the crowd in today’s vast sea of employment opportunities?
There are 10 million job openings across the U.S., but only 8.6 million people are looking for jobs. In a market where employers essentially have to buy back job applicants, more employers are looking to set themselves apart with incentives and benefits.
Outline Incentives in Job Openings
When creating a custom job opening online, make sure to list any incentives your company is offering to help lure in qualified applicants. Remember, this is a job market where employees can afford to be picky and choose their dream jobs.
Ninja Gig has compiled some unique incentives that companies are offering to employees.
- Signing Bonuses – Having money upfront for accepting a job is a big draw in today’s market. Even fast-food chains that traditionally offered minimum wage opportunities are offering signing bonuses to new employees.
- Higher Salaries – With employers competing for employees, higher salaries fuel and dictate what employers employees choose.
- Flexible Working Arrangements – Employees got used to working from home and forgoing lengthy commutes. Many employees even became pet owners during the pandemic. Employers that can offer flexible working arrangements, even occasional work-from-home benefits, are attractive to job seekers in today’s job market.
- Pet Insurance – Nearly 20 percent of employers offer pet insurance with the pet owner boom during the COVID-19 pandemic. That number is expected to rise to 27 percent of employers within two years.
- Legal Services and Identity Theft Protection – Having access to legal services for estate planning and having the benefit of identity theft protection are also crucial to today’s employees.
- Medical Insurance – More than 70 percent of employees say that medical insurance is the most critical benefit companies offer employees.
- Mental Health Resources – Offering “stress-free zones” and mental health resources can be vital to employees, especially during these traumatic, difficult times caused by the pandemic.
- Tuition Reimbursement – Offering to reimburse for tuition or continuing education can be substantial draws for Generation Z, Millennials and even Gen Xers looking to finish their degrees.
- Vacation Time – Consider offering immediate vacation time instead of requiring that employees work for companies for a year or more before having access to time-off benefits.
- Profit-Sharing Plan – Structure companies so that employees have more incentives by sharing ownership via a profit-sharing plan. Many companies have successfully structured companies with profit-sharing plans or employee stock ownership plans (ESOP).
Standing out in today’s job market can be a challenge for employers, but employers stand a better chance of filling open employment vacancies by luring employees with specialized incentives.
Ninja Gig offers an advanced ATS and job posting system for employers of all sizes. Focusing on the bottom line, we keep costs low, and everything is included in our low monthly $49 fee. Easily keep track of your job openings, accept applications and customize job descriptions online, which automatically push to most major job boards, including Indeed, ZipRecruiter, Monster, Google and more. Sign up today for our free 14-day trial, and see how Ninja Gig can transform your recruiting efforts!