How to create a competitive job offer

Gone are the days when a competitive job offer simply meant a competitive, compelling salary.

Remuneration is about much more than just numbers, and the savvy hiring manager will know how to balance a strong salary with a selection of non-financial benefits that will attract and retain top talent. 

Our report Talent Trends explores the current exodus of employees leaving their jobs, and highlights that just 42% are planning to leave due to being unhappy with their salary. Almost as many (35%) are leaving to seek better career progression or a promotion, and almost a quarter (24%) said the company culture was simply not a good fit. 

In order to gain top new talent, managers must create alluring job offers that take all of these factors into account. Here are some of the key benefits to consider including your job offers to entice candidates. 

Flexible work

After the past couple of years, many employees have discovered the value of flexible work. Being able to work from home some or all of the time, or having flexible hours so long as they complete their tasks, can be a real motivator for many candidates. 

Flexible work is a major motivator for employees, with 13% stating that it influenced their decision on where to work. 

Holiday leave 

Finding the right work-life balance is increasingly important for candidates, especially as the Millennial workforce becomes the largest percentage of the global workforce over the next few years. 

Millennials and Gen Z have both signalled that after financial perks, work-life balance is a top priority in the workplace. 

For employers, this can mean allowing for more paid holiday leave, or even more unpaid leave to allow employees the option of more time off, even if they’re not paid for it. Consider including this in your salary negotiation options when speaking to potential candidates.  

Company culture

When there are many employers seeking candidates and not enough talent to go around, candidates want more than just a well-paying job – they want to work somewhere that matters. 

Company culture has become one of the top motivators for employees, with 18% saying it is a major factor in accepting a job offer.

They want to know what the company stands for, whether those values are all talk or something the company actually acts on, how the business treats its employees and customers, and the relationships within the workplace. A toxic workplace might pay well, but if it makes an employee miserable in their day-to-day life, it’s only a matter of time before they move on. 

Building a healthy company culture that has strong values (and acts on them), and supports a positive workplace environment, can make all the difference for candidates. 

Share options 

Employee share options offer candidates shares as part of their package, or the option to buy shares at a special rate. 

This can offer the employee added financial value beyond their salary, and give them more motivation to see the company do well. 

Health insurance and gym memberships 

Health and wellness benefits can offer an excellent motivator for some candidates. 

While Medicare covers a wide range of healthcare costs, it doesn’t cover dental treatments and check ups, physiotherapy, eye tests and glasses, and other basics. A health insurance scheme that offers employees these benefits may be especially attractive.

Similarly, a gym membership can be another motivator for employees. 

Career development 

Employees don’t often want to tread water with a company. They want to learn, upskill and progress their careers, and if they’re not offered the chance to do so with your company, they may go elsewhere. 

For example, as many as 90% of Millennial Australians indicated they would stay with a company longer if training was on the table, signalling just how important this benefit is for younger talent. You should iInclude career development and training in your offer letter to attract more talent. 

If you need help creating a competitive job offer that includes more than a standard salary, speak to our specialists at Michael Page about how we can help.