Recruiting and hiring great talent has evolved significantly over the last few years. And moving into 2023 we’re not expecting the twists and turns of recruitment to slow.
Whilst a recession is on the cards, and more candidates are likely to enter the market, the benefits package is expected to remain a core element behind their decision to join and stay with a company.
Though salary is likely to remain at the forefront of expectations, especially in light of the cost-of-living crisis, it’s unlikely to be the big pull for attracting and retaining great talent.
Instead, employers should look into ways to attract, reward and retain employees by looking deeper into their benefits package.
Our 2023 agency and in-house salary surveys found 4 key areas around the benefits package are likely to be key for attracting, rewarding and retaining talent in 2023.
Salary
A rising cost of living, coupled with skill and talent shortages across some skill sets has led to salary increases across many roles. It’s been a big topic across the recruitment landscape over the last twelve months and one which we expect to remain present throughout 2023. Here’s a few changes we’ve seen moving into 2023:
59% increase in Junior Developer starting salaries (In-house).
£6,300 Increase in the average starting band for PR roles. (in-house).
£2,000 Increase in the average social media executive salary (agency).
£1,500 Increase in the average PPC salaries (agency).
Flexibility
The demand for flexible working and maintaining a strong work/life balance is still a vital element for many candidates. In fact, we find that companies who don’t offer some form of flexibility struggle to attract talent.
Flexibility looks different for many companies, it could be:
If employees are not getting clear communications around routes for training, development and progression, it’s likely they’re going to look for alternative employment to secure their next promotion or pay rise.
With some sectors grappling with skills gaps across PR, development, SEO and PPC, training and development could likewise help to combat skill gaps, enabling businesses to home grow talent.
Value
Employees want to feel valued in the workplace, and are likely to add value to organisations in return for feeling satisfied in their job. The way you add value as an employer is unique to your culture and business structure. Some ways our clients have added value to their employees are:
Enhanced holiday packages.
Work from home allowances.
Bonus schemes and structures.
Options to buy and sell holidays.
Company away days.
Volunteering days.
For a deeper look into how you can enhance your benefits package to attract, reward and retain the very best talent in 2023, you can download our latest salary surveys here.
Image credit:
Header: Image adapted from Photo by Marek Levak: https://www.pexels.com/photo/woman-using-silver-laptop-2265488/
