“Effective organizations today are built around highly empowered teams, driven by a new model of management, and led by a breed of globally diverse leaders,” asserts Deloitte’s Global Human Capital Trends report.

Job responsibilities are expanding. An analysis of over 24 million job listings in the US conducted by Bentley University found that 71% of sought after skills span two or more job categories.

“The successful employee of tomorrow will need to combine traditional soft skills
such as communication and collaboration with the hard, technical skills.”

Gloria Larson, Bentley University President.

With the need for multi-skilled workers on the rise, the Society for Human Resource Management reports that it is becoming more difficult for organizations to attract the best talent. Organizations are facing increased competition in the job market, which is affecting compensation and benefits strategies.

According to Glassdoor, 57% of workers indicate that benefits and perks are among their top considerations when evaluating a job. In addition, 79% of employees actually prefer new perks over a raise. And successful companies are taking note. For example, Airbnb, rated the Best Place to Work in 2016, provides its employees with an annual travel stipend of $2,000. Overall, the top five incentives identified by Glassdoor are as follows:

  1. Healthcare Insurance
  2. Vacation/Paid Time Off
  3. Performance Bonus
  4. Paid Sick Days
  5. 401(k) plan, retirement plan, and/or pension

What are you doing to recruit and retain the best talent?