Don't save your best sales pitch for a prospect. With a tight labor market, you need to sell your firm to your top recruits, too. Take a look around your firm and make a list of what's âgoodâ about it. Ask your employees if you want to know what's "great" about your firm.
From casual days to flexible time schedules, there's plenty your firm âoffersâ its employees. But don't stop there. Be sure to make a laundry list of benefits for your new employee and quantify them in the offer letter. These âbenefitsâ can really add up. When they are added to a salary, they may just tip the recruiting scale in your favor.
For example, if your firm offers free covered parking or an in-house gym, take the value of these and make a list of total benefits offered, including traditional benefits such as health and dental insurance and a 401(k) plan. Providing benefits for your employees can cost your firm thousands of dollars per year. Your employees should know the value of the total compensation package you are offering (and they are receiving).
How can employees appreciate the benefits you are providing if they don't know the "fair market value" of them?