Class,
Whether the position I am hiring for is experienced or entry-level, I would hire along a specific set of personality traits and characteristics. Individuals I would like to hire would preferably be innovative with a track record or an aptitude for process improvement. A motivated individual eager to develop and move up in the company would be a trait I would look for too. Loyalty is essential as their work history should show they have a record of sticking with a company for long periods. Characteristics aside, if the position is for an entry-level hire, I would look for recent graduates in the field, possibly younger candidates with room to grow. If it is for a position requiring some experience, I would look for a candidate with a high level of technical proficiency and familiarity with the industry.
As for the compensation and benefits package that I would ensure is in place to recruit the best candidates, it would depend on the company I am hiring for and the employment market. As our textbook explains, the two strategies for compensation to attract and retain talent Below-Market and Middle-Market, can be applied depending on the current market and organizational resources. (Youseff-Morgan & Stark, XXXXXXXXXXIf I am in a company dealing with a lack of resources that may not be able to compete with other companies in regard to monetary compensation, I would utilize a Below-Market by offering non-monetary compensation such as stock options, comp time off, or flexible schedules to name a few examples. In an organization with ample resources, I may utilize a middle-market strategy with monetary compensation such as profit sharing, bonuses, or increased pay. In a perfect world, I would use multiple compensation methods, non-monetary and monetary.
After reading the provided article on Herzberg Theory of Motivation, I found it interesting that much of this theory is applied in my current line of work. I am in the Air Force, and we have no authority to motivate people with money as pay raises come from Congress. So to compensate individuals, we have to apply our own benefits, if you will, to motivate them. The Herzberg Theory regarding motivating employees says you should focus on factors such as recognition, responsibility, and achievements. (Futureofworking, n.d.). At my level, we employ all of these methods. I have found that motivated individuals want recognition in the form of an award, increased responsibility, and promotion.
One company that has always fascinated me with its employee benefits is the New Belgium Brewing Company. They have an outstanding awards program as there are set employment anniversaries that have awards that range anywhere from a free bike to an expense trip paid to Belgium. The most significant benefit to me is that they have on-site healthcare, with a medical clinic offering low-cost healthcare and prescriptions. (Kohll, XXXXXXXXXXThis benefits package to me ensures that New Belgium is competitive for the best candidates in their industry.
With all of this in mind. The benefits package, I think, would be competitive in attracting talent would be:
Paid Vacations and Holidays
401(k)
Profit Sharing
Annual Performance-Based Bonuses
Employment Anniversary Bonuses
Vision/Dental/Health Insurance
Earned Comped Time Off
Paid Sick Leave
Flexible Schedule
Life Insurance
On-site Gym and Wellness Center
References
Futureofworking. (n.d.).Herzberg theory of motivation in the workplace
.
Retrieved fromhttps://futureofworking.com/herzberg-theory-of-motivation-in-the-workplace/Links to an external site.
Kohll, A XXXXXXXXXXReasons Why New Belgium Brewing Is One of The Best Places To Work.Forbes.Retrieved from https://www.forbes.com/sites/alankohll/2019/10/10/5-reasons-why-new-belgium-brewing-is-one-of-the-best-places-to-work/?sh=2d4b23c979a2
Youssef-Morgan, C. M., & Stark. E. (2020).Strategic human resource management: Concepts, controversies, and evidence-based applications
.Retrieved from https://content.uagc.edu/