The b Insight

Four perks that will help you attract and retain talent in 2022

Adam Coleman, CEO, HRLocker

We’re operating in a candidate’s market like never before. Meaning Irish SMEs are having to make rapid changes to accommodate them. Fortunately, there is one thing uniting all workers right now. And that’s the principle of flexibility. This doesn’t just refer to where employees place their desk – they want flexible hours, working locations, equity options, and learning and development programmes. In the same way that retail has seen a growing desire for personalisation, workers too, are looking for ways to customise their jobs. The last two years have taught us the world can change almost overnight. Candidates are seeking perks and benefits that reflect an unpredictable world. The four trends I’m about to share will help you acquire and retain talent in 2022. But keep the concept of flexibility in mind. Because we at HRLocker might be the HR experts, but you know your team best. Work from anywhere Employees will want to take their remote working one step further and experiment with exciting new locations. After sacrificing so much time during the pandemic, workers are looking for ways to merge their desire to travel with their professional lives. SMEs can facilitate this remote-first transition by adopting a location independent business model, so that employees can work their contracted hours at any time of the day. This won’t be possible in every industry, but even just providing a small adjustment to working hours shows that you respect your employees’ personal lives too. Flexible working infrastructure Where, when, and the length of time people spend on the job is all up for debate in the new world of work. Four-day work weeks are no longer a trendy benefit for buzzy start-ups. But it’s not just a perk for employees. Businesses can expect increased productivity when they adopt a four-day work week. Just look at the data from Microsoft’s trial back in 2019. They achieved an astronomical 40% increase in productivity. Employees no longer wish to be chained to a set number of hours, on a set number of days. Businesses should look at ways they can implement a results-based system, so that performance is measured on achievement and not time spent at the desk. This investment should also apply to digital infrastructure. Commit to providing the most effective tools and programmes for your employees and involve them in the selection process. This investment will resonate most with younger generations who want tech autonomy. Employee ownership Give your employees some skin in the game through an employee stocks and shares scheme. While you might not be able to compete with the big players on salary, this is one way you can boost employees’ earnings while remaining within your salary budget. There are a whole host of apps and experts that can help you design and adopt a shares scheme to reward your employees. The biggest mistake employers can make when implementing an employee stocks and shares scheme is not providing clear guidance for employees. Make sure you have legal support and access to financial expertise so that employees can make an informed decision. Revamped learning and development Here’s something that might surprise you: 94% of employees are likely to stay with a company for longer if they provide learning and development opportunities. For SMEs without a sufficient programme, that means they could be at risk of losing the majority of their staff, long before they should be. As we explored in our recent employee experience white paper, L&D is motivated by opportunities to progress - which gives a welcome boost to engagement and productivity levels too. Keep your options open, and invite your staff to suggest their favourite perks. But whatever you do, don’t hesitate – the future of work is already here. Visit HRLocker, Ireland’s all-in-one HR software solution for SMEs on www.hrlocker.com. ISME Members can receive 15% discount on their annual licence fee and more as part of ISME’s ADVANTAGE Affinity programme, details available here.