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9 Ways to Incentivize Today’s Top Talent

Today it takes more than a competitive base salary, a benefits package and a positive office environment to hire top talent. Job seekers are looking for more than just the basics – they want to feel cared for and respected.

Read below to find 9 incentives to consider when looking to hire top talent:

1. Flexible work hours – This term may be overused but there is some merit to it. While the term “flexible” means something different to everyone, allowing your employees the freedom to live their lives while working is almost an expectation in today’s competitive job market.

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2. Bonus potential – Whether this be in the form of a quarterly bonus, spot bonus, seasonal bonus or annual bonus, the existence of a bonus that is directly tied to an individual’s objectives is a motivating factor. When structuring your bonus program, ensure that employees contributions are directly correlated to the total company’s goals.

3. Long-term incentives – For those employees in higher grade positions you may want to consider a long-term incentive (LTI) program. This not only helps motivate top talent but also helps ensure they stick around for the long haul.

4. Retirement match – Nearly everyone is saving (or should be saving) for their retirement and a company match is almost becoming expected. Consider a match for the first 3-5% and possibly a company contribution without a required match. Small gestures like this show potential employees how invested you are in their future.

5. PTO/holiday days – Paid time off or vacation days are critical to allow your employees to reset and/or recharge. This time not only allows your employees some much needed time away from the office but can help provide new perspective. Don’t skimp on the time off if you want even more productive and proactive employees.

6. Volunteer hours – Some employees will use PTO or vacation days to volunteer but others simply haven’t accrued enough time to do so. Consider allowing your employees time to volunteer in their communities – the ability to give back can do a lot of good for some people. Consider offering one day a quarter for this important activity.

7. Company discount – Do you sell a product or services? Do you provide a discount to your employees to utilize these products or services? If not, you should consider it. Your employees are your biggest cheerleaders. They want your company to be successful and by consuming your products or services they have more knowledge to help spread the good word.

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8. Discounts on purchases – Consider partnering with other companies in your area or even national brands to offer your employees exclusive discounts on purchases they make outside of your offerings. Everyone likes to save money and everyone likes to feel like they are part of something special. Help your employees feel special by providing them unique offers.

9. Company vehicle/stipend – If you have employees that travel, such as area or district manager, you may already offer this; however, it’s so important it’s worth stating. Providing employees on the road with a company vehicle, insurance and fuel can really go the distance with this group of employees.

For 35 years StrasGlobal has represented the best of the convenience industry’s entrepreneurial spirit and drive for innovation – providing turnkey small format retail site contract operations, staffing services, accounting services and retail consulting to companies large and small.

Contact us to learn how StrasGlobal consulting can help you attract top talent and staff your retail sites with a reliable and dedicated team.