Management

Use These 5 Company Perks to Attract and Retain Top Talents

Work efficiency in top talents allows companies to maintain consistency in project delivery as well as success. Nowadays, it is imperative that you provide good perks to retain high performers. In this article at Assignment Point, know the 5 perks that attract and retain top talents.

Luring Top Talents with Company Perks

Awards are fine but that come after almost a year. You must acknowledge their hard work by providing company perks that they can enjoy throughout the year. To appreciate and keep up the motivation level of the top talents, use these 5 company perks:

  1. Compensation Based on Skills: This type of company perks is based on skills, capability, and behavior acquired by the top talents. You should reward them based on the skills that make them unique and highly valuable for the team.
  2. Broadbanding Perks: Classifying designations into three wider categories like clerical, professional, and managerial bands is called as broadbanding. It becomes easier to allocate budget based on broadbanding to retain top talents.
  3. Job Pricing: It depends on the value the top talents are providing to the company. This type of compensations eliminates any chance of discrimination based on gender, race, community, or beliefs. You place certain factors and value to a job. You judge how closely aligned the employees’ performance is to these checklists to be eligible for the company perks.
  4. The Cafeteria-Style Benefit Plans: This is quite common among organizations. It includes benefits and services that top talents get excluding their pay package. Flexible work plans, health insurance, retirement plans, long-term disability insurance, etc. are some of company perks.
  5. Variables: Variables are used to motivate employees to improve productivity and efficiency at work. This type of perks is on the rise and becoming a popular method to incentivize outcomes.

To view the original article in full, visit the following link: http://www.assignmentpoint.com/business/management/modern-trends-compensation.html

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