Did you know that top candidates are picked up by recruiters within 10 days? More so, one in five talent-acquisition specialists admit they cannot meet the demands of the deserving candidates. 

These recruitment statistics shared by Workonic confirm what most HR professionals already know— the search for talent has become increasingly competitive.

As we move into 2020, companies need to have strategies in place to stand out. It’s essential for employers to review existing benefits offerings and find creative ways to incentivize prospective employees who check all the right boxes. 

Because higher pay alone won’t always seal the deal. And what worked 5 years ago, won’t work today for talent whose values are progressively shifting towards better work-life balance and less stress. 

So, what perks can businesses use to lure and retain the best talent on the market in 2020?

Holistic wellness strategies are the way to go, says the Workforce Institute at Kronos Inc’s global workforce predictions for the year ahead. Below, we’re outlining some key strategies you can use to stay competitive in the war for talent.

3 wellness strategies to attract top talent in 2020

• Focus on mental health benefits – Whether it’s fighting anxiety and depression, or having resources available to help reduce stress, workers today are prioritizing their mental wellbeing. This means that employers that promote mental health coverage and offer additional support resources are in a better position to win over top talent. 

Want to learn more?Read our recent article about mental health benefits here. 

• Include financial wellness programs – Managing debt, planning for retirement, or just managing day-to-day finances can put a strain on employees who don’t have the skills to handle it alone. That’s why employers who want to attract the best of the best should consider offering financial support services. This can range from basic financial literacy programs to offering cash contributions to pay down student or home loans. 

Not sure where to start?Check out how our employee assistance programs can help.   

• Consider flexible working arrangements – Finding the right balance between work and life is difficult. Long drives into work and traditional 9-5 office hours don’t help. It’s the main reason why so many employees are seeking flexible workings arrangements. Employers who allow for at-home or remote work can differentiate themselves from a pool of other businesses who might dismiss the idea completely. 

Not convinced it’s worth it? Explore the benefits of the remote workplace here. 

Ready to win over top candidates in 2020?

We’re here to help. If you’re looking to make changes to your current benefits offering or would like some feedback on what you’re doing today to attract the best hires, our team at BenefitDeck is one call away. No matter what your goals are, we can assist you in implementing benefits strategies that will catch the attention of top candidates, for good.