You know how much attracting top talent to your organization can mean to its success. One outstanding example of exceptional return on investment from one of our clients saw talent acquisition of less than $250,000 for multiple hires turn into over $45 million in divestiture proceeds.
The thing is, waving attractive salaries in front of top level executives or potential employees aren’t always the most effective way to recruit your dream team. Below is an infographic that showcases some of the top ideals that employees look for when seeking career opportunities. These ideals are all centered around achieving amazing work-life balance and can teach your organization a thing or two about what is important to employees.
While the jobs listed may not closely identify with those that you are trying to recruit, the area that you may want to concern yourself most (as an employer) is the section on Indicators of Work-Life Balance.
Why Promoting Work-Life Balance Matters
According to a study published by The Council of Economic Advisers, nine in 10 Americans feel that their employers should offer employees more flexibility in their days in order to meet their family’s needs. If this work-life value is important to the average American, think of how valuable it is to executive-level professionals who are often tracked down for their unique skill-sets. With this knowledge in mind, consider the below work-life balance indicators as identified by the OECD Better Life Index and determine which of the following areas you may be able to promote to attract the best talent to your organization.
Indicators of Work-Life Balance
When employees are seeking careers that will make them happy and keep them motivated to give 110 percent, they look for the following indicators:
- Hours worked per week: The normal hourly work week revolves around 40 hours while more executive-type positions require more demanding hours. If your job prospect values time with his/her family or spending time doing things outside of work, a career that puts them in the 60 hours plus work week may not necessarily be appealing to them. However, if you can attract talent and promote acceptable work hours you may be that much more appealing to top prospects.
- Time devoted to leisure: Older, more established executives, many of which tend to be baby boomers, value time to do leisurely activities or attend to family and loved ones. If your position merits the type of flexibility where your employees can take leisure time when they need it while the job still gets done, you may want to make this known when recruiting them.
- Average pay: Due to their extraordinary skill sets and proven value they have brought to previous positions, many executives are able to justify high salaries. In this infographic, the job with the best average pay is a Solutions Architect at $112,000 per year. While your opening may or may not merit this pay (it may be more, it may be less), the starting salary is one of the most obvious indicators of work-life balance. This is not to say that more money means that you’ll enjoy your job more, but it does suggest that many people are willing to sacrifice more of their personal time if it means they will have a higher salary.
- Growth potential: Employees find self-worth in their ability to take on more responsibilities and make a greater impact within a company. If a position offers a significant opportunity for upward mobility or financial gain, it is likely to be more attractive to potential candidates. In the case of the executive who may start their position at the top of the totem pole, financial incentives such as stock options, bonuses or salary gains may be attractive when pulling for top talent.
- Flexibility: Flexibility in a career comes in many different forms. For some, this means the ability to work remotely or from home. For others, this means being able to work around a timetable that they dictate themselves. Other professionals may be interested in the flexibility of a seasonal job or a project-based one. If flexibility is important to a desirable candidate, perhaps it may be worth it to discuss with them what type of flexibility they prefer in their career so that you can determine if you share similar values.
- Stress: It seems like all high-profile positions tend to come with their own levels of stress. However, managing the expectation of potential executives and the inherent stress of a position is important from the start. Ensuring them that the team they will be working with is professional, intelligent and actionable will provide more credibility in a position and make them feel like they are filling the role of leader rather than savior.
Work-Life Balance is not the same for Everyone
When recruiting the best executives, it is important to recognize that everyone has a different interpretation of what great work-life balance means to them. Before promoting one of the above indicators of work-life balance, talk to your candidate to determine what they value most and see if it is consistent with your organization. At the end of the day, you’ll want to ensure that they are as good a fit for you as you are for them.