This should come as no surprise, but if you aren’t offering a competitive compensation and benefits package appropriate to the role, industry, and region, you won’t attract and retain top talent, a sentiment shared by 65% of AFP survey respondents.
Even as half of respondents reported that management at their organizations is concerned about a recession, sacrificing compensation and benefits is not part of the belt-tightening measures being taken, such as cutting costs (outside of compensation and benefits) and streamlining business operations.
So, if most companies are committed to competitive compensation and benefits packages—in other words, the bare minimum—how can you stand out to net top finance talent, while keeping the bottom line top of mind?
Beyond must-haves like health, dental and vision insurance; life insurance; and retirement plans, consider nice-to-have perks that add significant value to a job offer. Think: unlimited PTO, paid parental leave, reimbursement for tuition and other professional certifications, stock options and volunteer leave, which allows employees to volunteer time to causes they’re passionate about during work hours.