Not all employers can offer competitive salaries. Budgets aren't always big enough and companies aren't always flush with cash. So how can a company compete?
Recently, a study by CareerBuilder found that employers focus on satisfying employees' work-life balance needs when they are unable to meet salary requirements. In fact, one third of companies will offer flexible schedule options, and nearly twenty percent will provide more vacation time when they are unable to meet a candidate's asking price.
What are some other benefits companies can offer employees?
Work from home at least once a week.
Pay for mobile devices.
Paid-for happy hours or "Free beer Fridays."
Pets in the office.
Offering PTO for volunteer work.
A small yearly technology stipend-- for example, a few hundred dollars a year to buy and try new gadgets.
Offering workers' children summer internships.
Providing yoga or other fitness classes at work.
While not every company can pay like Apple or Google, each employer can make their company a great way to work by adopting some of the inexpensive creative perks offered by big-budget mega corporations.
Most of the top talent that companies work to attract wants to feel valued at work-- so be sure that you not only provide your employees with benefits that make them feel valued, but that you also spotlight each employees' successes and help each individual feel like he or she is an important part of the team.
This, in combination with creative benefits, will help your company attract and retain top talent, even if you don't have the budget to compete with other salaries.