Innovative Ways Employers are Attracting & Engaging Talent

Being an employer of choice was once a "nice to have" but suddenly it is a "must have." Why? Consider that two-thirds of millennials aim to be entrepreneurs and 50 percent of midcareer or seasoned executives are planning to exit the talent pool by the year 2020. If you work in the real world and, I know you do, three years is not very long. We are not witnessing a simple change initiative; we are witnessing a paradigm shift.

Work is personal and businesses must begin integrating strategies to acknowledge this fact. Office is a verb in this decade while work ethic, values and motivations are not universal. Yet, businesses are still developing one-size-fits-all policies and it seems numerous businesses are seemingly unaware of the threat of ending up without the best talent on their side.

With spring upon us, employees may have extra pep in their step. Many employers are going above and beyond to ensure the pep has more to do with where they work than with the weather. Notable incentives that both attract and help retain quality employees include:

Health Care Premium Holidays: With the political landscape as of late, it is no surprise that the discussion on health insurance has people at odds. Some companies offer a Health Care Premium Holiday to encourage employees and their spouses to have an annual physical. So often employees do not take advantage of the preventive benefits built into company health plans. By offering employees a one- or two-month incentive, where they do not have to pay their portion of the medical premium, it creates a win/win situation for everyone.

Learning Challenges: Create wellness offerings that engage online critical thinking and brain health application. Employees can be encouraged and reminded daily via email to log on for 10 minutes and solve puzzles, take quizzes, play games and even draw.

Employee Bonus Plan: Establish bonus plans that aim to motivate, thank and compensate full-time employees annually. Assign employees a target bonus of their annual pay. If the company results exceed profit goals, the employee bonus is adjusted up by the same percentage as the exceeded company profit.

Work Hard, Play Hard: Many companies are creating a work environment that is anything but typical. Break rooms include game tables, musical instruments, virtual reality play stations, access to a grill and a stocked refrigerator. This facilitates valued relationships for both the employees and management. And, at some forward thinking companies, they don't just give their employees a bonus or time off, they take a weeklong cruise together ... All of them.

Some businesses are even paying big bucks to reward employees that stay put. With research showing employee loyalty is at an all-time low, offering a bonus check is well received and can be incentive for every employee from the receptionist to the chief officer.

Best practices do not have to be expensive however. Often employers simply need to listen to their employees and act on what they hear. Encourage employees to share what they would like to learn and the company can then schedule speakers based on those topical requests.

Lastly, take time to go for a walk with an employee and engage in a real conversation. Often spontaneous departures from a routine day can spark innovative discussions that can lead to productive outcomes and better collaborations. The best way to attract talent in 2017 is to ensure your current team is happy and engaged.

• Nicole Martin, is a speaker and author. She is the CEO and Founder of HRBoost LLC based in Libertyville.