5 Great Benefits & Perks to Attract and Retain Employees
By: Jon Piggins
Director of Business Development, Redfish Technology
In today’s tight labor market, competition for top talent continues to heat up. We’ve seen some of our clients increase their hiring rates by offering benefits & perks beyond what’s now becoming standard, things like; unlimited vacation, “make your own hours”, 100% paid health/dental/vision coverage. Here are some of the best perks we’ve seen recently.
Vacation reimbursement: “Unlimited” vacation is great…if you use it. Turns out that many employees are so busy that they never wind up taking advantage of the benefit and the company winds up with stressed out, tired workers. One company we work with decided to solve the problem by creating “vacation reimbursement”, $3,000/yr per employee, can’t take it as cash & have to use it each year or you lose it.
Student loan paydowns: With 44.7 million borrowers owing more than $1.5 Trillion in student loans, the U.S. is drowning in school loans. Not just a financial burden, student loan debt can be stressful & limiting. We’ve had a few clients begin to offer monthly contributions to their employee’s loan payments, either by subsidizing the amount they had to pay or by matching payments (up to a limit) therefore helping to pay off the loan(s) sooner (sometime 7-10 years sooner).
529 accounts for employee’s children: Think of a 529 account like a “Roth IRA” for college. Contributions are invested & when it’s time to pay for college (tuition, room & board, books…) the money can be withdrawn without penalty or taxation. It’s a nice additional way to help employees beyond the traditional health savings & retirement plans most companies offer.
New baby fund: Have a baby, get $4,000. That’s what Bay Area based client of ours decided to start doing (diapers are expensive!). Seriously though, as wonderful as having a child can be, it’s expensive & stressful. Getting a nice chunk of change & a good break for maternity/paternity leave is a great perk for your workers.
Housecleaning & Laundry Services: Put in a 60 hour work week & then have to deal with cleaning chores and laundry…no thanks. We have a longtime client in LA who provides weekly laundry and twice monthly house cleaning services for their approx. 100 employees. Simply bring in your clothes in a big nylon bag on Monday, it gets picked up at the office & comes back on Wednesday cleaned and folded.
The great thing about these benefits is that they’re done in good spirit…yes they’re self-serving for a company in helping to attract & retain talent and increase productivity, but they’re also considerate towards employees with the goal of reducing their stress & burden and helping to make their lives a little easier.
The Top 5 Reasons Not To Accept a Counter Offer
By Mike Curry, Executive Recruiter, IT Division
So you find yourself with an offer from a new company, and whether you actively solicit a counter or you simply allow one to come, you are playing with fire. It is a highly risky move to accept a counter offer. These are the main reasons not to accept a counter offer.
1. Your Manager is Going to Hate You.
Okay, hate may be strong but s/he is not going to be happy with you. Once the relief that you are staying and that the projects underway haven’t been sabotaged by a sudden departure, negative feelings are going to seep in. The manager will likely harbor feelings of doubt about whether you solicited an offer just for leverage. S/he may worry that this incident will let loose a chain reaction, with others taking a stab at it. There’s going to be second guessing about whether you may try this again. Such a move will definitely be perceived as a breach of trust. Read more »
Why Employers Should Include a 48-Hour Expiration Date in an Offer Letter
By Meredith Dean, Executive Recruiter, IT Division
The whole point of any hiring process is to fill a current hiring need. The hiring process isn’t done until it’s done. That means getting the offer letter signed and assuring that the candidate arrives at the new employer on the appointed day.
So as soon as the ideal candidate is identified: make the offer, manage the variables, and minimize the risks to successfully hiring him/her. Read more »
By Leah O’Flynn – Irish Lass and Tech Recruiter Extraordinaire
Did you know that you need to be very careful when negotiating with a leprechaun? Once you catch him or her, make sure your three wishes are reasonable and count your blessings. Don’t get ahead of yourself because you are “lucky”. Read more »
The Top Ten Things to Include in an Offer Letter
By Jon Piggins, Executive Recruiter, IT Sales & Marketing
Jon Piggins – IT Recruiter, Sales & Marketing
Offer letters are used to inform a prospective employee that he or she is being offered a position. The offer letter provides general expectations and basic terms of employment if the candidate accepts the offer.
Employment agreements are generally more formal documents that go into greater detail in defining an employment contract, such as setting forth the performance and duties and the remedy for any breach of contract.
What to Put in an Offer Letter
This is an exciting moment for both the candidate and the company, and the hire is not over until everyone has signed on the dotted line and the work has begun. So convey your excitement and close the deal!
Ex. On behalf of (Company), I am pleased to offer you employment on the terms and conditions set forth in this letter. We look forward to working with you and believe that you can make a very significant, positive contribution to the success of (Company). Our company offers you an opportunity to put your experience, abilities, dedication, energy and creativity to excellent use. Welcome to the team! Read more »
“Should I Stay or Should I Go?”
Logan Knight, IT Recruiter
The Sweet Counter Offer – When Your Employer Doesn’t Want You To Go
By Logan Knight, Executive Recruiter, IT Division
I am a big music fan and I just can’t seem to help hearing Joe Strummer rip through the chords of this classic every time I hear a candidate pose the question “Should I stay, should I take the counter offer?”
While it can be a tough decision, here are some things to consider. Much of the time I am recruiting candidates who weren’t actively looking for a new role, there is a reason they went into an interview process. From the start of this process, I ask candidates to honestly evaluate the company and the opportunity, and I give them all the information I possess about the pros and cons, the challenges, the rewards, the culture, the perks, the work. And we discuss whether they want to move forward if offered a job.
As the tech sector continues to boil, it is only natural that companies are trying to retain employees with counter offers. But that doesn’t mean it is a good idea. Not for the candidate, and not for the company.
Please read my article on the pitfalls of taking a counter offer:
The Sweet Counter Offer, When Your Employer Doesn’t Want You To Go
The great majority of professionals who accept a counteroffer to stay are gone within a year, whether of their own volition or being asked to leave. There are a variety of reasons that staying for a counter offer goes so wrong!
Let me know what you think!
Rob Reeves, Recruiter, President, CEO
Negotiating Yourself Right Out of an Offer
By Rob Reeves, Executive Recruiter, President, CEO
So you fancy yourself a skilled negotiator? That will hopefully serve you well, just don’t negotiate yourself right out of an offer. We recently had a fantastic candidate who did just that.
It is important to understand that negotiating a job offer is the beginning of an important relationship between hiring manager and employee. “Don’t lose sight of the human part of negotiating.” cautions Rob Reeves, executive recruiter and CEO of Redfish Technology for over 17 years.
Salary negotiations can be challenging. The market is heating up for great sales, marketing and engineering talent in the technology sectors. Candidates often want a step up in salary when making a move. Even if you are the greatest thing since sliced bread, and you’ve got negotiating in your blood, listen up! Read more »
May the Equity Packages Be Forever in Your Favor
By Joseph Walker.
Joanna Bradley, IT Sales & Marketing Recruitment Manager, was interviewed for this story on evaluating opportunities at start-ups. This article was originally published on the FINS (Wall Street Journal Digital Network) website.
You’ve decided to join a start-up. You’ve gone through a rigorous interview selection process and have been deemed worthy of joining a small band of brothers dedicated to nothing less than ringing the Nasdaq bell and becoming millionaires many times over. Read more »
Hiring Best Practices & the EEOC
In some countries it is standard to include a photo on your resume, as well as your marital status, age, and other juicy tidbits that are considered to be completely out of the professional and legal employment scope in the United States. Including that kind of information when applying for a job seems hard to imagine here in the United States. Read more »
Rob Reeves, CEO – Redfish
Will a Recruiter’s Fees Impact My Salary?
By Rob Reeves, President, CEO Redfish Technology
I can’t tell you how many times I’ve been asked by a candidate if working with a recruiter will lower his salary. Some people think that a recruiter’s fee comes out of the same budget that a candidate’s salary comes from. “Isn’t the money for a new hire going to be split between the candidate hired, referral fees, headhunter commission, and Sally over at H.R.?” Read more »