How Attractive Company Policies Will Help You Draw Talented Staff

Finding, hiring, and retaining high-quality workers is one of the most challenging aspects of business ownership or business leadership. As any business leader can tell you, your employees and contract workers can make or break your company. Unfortunately, finding good workers is harder than ever. In a recent survey conducted by the National Federation of Independent Businesses, nearly half of business owners reported having a job opening that they could not fill.

Whether you are struggling to find the right staff or want to ensure that you retain the staff you currently employ, it is important to consider how your company policies may influence staffing issues.

Modern Workers Want Modern Company Policies

Most business owners know that they must comply with wage and labor laws. Their employee handbooks are filled with anti-discrimination and anti-sexual harassment policies, codes of conduct, and attendance policies. However, it is often not enough to do the bare minimum- especially in industries where many businesses are vying for the same talented employees. Desirable company policies will help you attract a larger pool of applicants to your open positions. Even more importantly, attractive policies will make your current employees feel valued in a way that little else can. This can help you avoid high turnover rates.

Some Businesses are Reinventing the Workplace Through Innovative Company Policies

Of course, the types of company policies you choose to utilize depend on the type of business, your business goals, and your personal preferences. You must also ensure that your company policies make sense financially. That being said, some companies are adopting company policies that offer:

Work-from-home opportunities – During the COVID-19 pandemic, many workers were forced to work remotely. Now, many workers would only take a job that allows them to work from home at least some of the time.

Paid time off (PTO) benefits – Generous PTO policies that allow for sick days, paid vacation, and personal days can attract better employees to your company. It also helps ensure that your staff do not suffer from burnout and start underperforming at work.

Additional benefits and employee perks – According to one survey, 80 percent of employees would choose extra benefits over a wage increase. Studies show that the most desirable benefits include great health, dental, and vision insurance, more flexible work hours, extra PTO, and tuition assistance.

Call Us for Help with Employment Law Concerns

Better staff equates to a more successful business. For many businesses, instituting more desirable company policies can help attract quality applicants and encourage current employees to stay with the company. Contact a skilled Naperville business law attorney at the Gierach Law Firm if you have questions or concerns about employee concerns, wage and labor laws, business contracts, or other business law needs. Check out our outsourced general counsel program, YourOGC for legal guidance on an as-needed basis. Call 630-756-1160 for a confidential consultation.

Sources:

Harvard Business Review

Glassdoor

Reuters