Honolulu, Hawaii 2021-06-08 14:00:00 –
College grants for children and spouses. Summer hotel employees have free rooms, and aspiring cooks have a set of knives. And an appetizer at home for those who are willing to sit down for a job interview at a restaurant.
Employers are determined to attract new employees and retain existing ones in the suddenly hot employment market, looking for new incentives that go beyond traditional monetary compensation. In some cases, you may be offered the potential to restructure your career path, such as university scholarships or guaranteed admission to management training programs.
The unemployment rate in May was 5.8%, but with the sudden resumption of much of the US economy, companies are struggling to find workers as the summer approaches, especially in the services sector. Moreover, incentives are often on the rise of hourly wages.
The result is a plethora of new benefits as HR professionals and employees rethink the terms of similarly attractive compensation packages. And as a breakthrough, some companies are expanding education benefits to their employees’ families.
Before the pandemic got stuck in early 2020, the labor market was relatively tight, with an unemployment rate of 3.5%, but the rise in non-cash commodities is a new wrinkle. Many large companies have similar types of skills. We want to stand out, especially in the rush to recruit staff after the pandemic, competing with other major companies in looking for experienced workers.
“We knew we had to do something radically different to make Waste Management attractive,” said Tamura Oats Forney, Chief Human Resources Officer at Waste Management. “There is a war over talent, so rewards are not a differentiator.”
“There are never too many drivers,” she said. “When we think of Amazon and Walmart, we’re targeting the same population.”
The company pays for employees to earn bachelor’s and associate degrees, as well as certificates in areas such as data analysis and business administration. As a significant expansion, Waste Management will offer these scholarships to employees’ spouses and children this year and will enroll in January.
Jim Fish, CEO of Waste Management, said: “For those with high school children, this is a big problem.”
JBS USA, the nation’s largest meat processor, began paying 66,000 employees and one child’s college degree per employee in March. According to Chris Gaddis, director of human resources at JBS USA, the move follows a 30% or more increase in hourly wages over the past year.
In a large beef processing plant, floor workers have an hourly wage of $ 21 and more highly skilled employees have an hourly wage of $ 30.
“There are more innovations in both wages and secondary incentives, but no one is doing what we are doing with the American countryside,” Gaddis said. I did.
Educational incentives for JBS and Waste Management are designed to reduce turnover and attract new employees. Each company pays the full tuition fee for the selected institution group. The JBS program offers a variety of majors and certificates. Careers can range from years to decades, as dependents are eligible for school education.
Every time an hourly employee leaves the waste management department, it costs at least $ 12,000 to find and hire a replacement, Fish said. In addition, 50% of safety incidents are associated with drivers who have less than three years of work experience.
“When it comes to safety, the longer you stay here, the better,” Fish said. And by paying for education, he added, “I have a real hook.”
Waste Management estimates that the cost of the first year of an employee program will be between $ 5 million and $ 10 million.
Following the pandemic, employers are beginning to think more comprehensively about their employees and their goals, including personal and family life, according to Indeed Employment Institute economist Ann Elizabeth Conkel. Extending benefits to spouses and children aims to address these considerations.
“You can’t hide your family life,” Conkel said. “Everyone had to make significant changes to what they did in the last 15 months.”
Incentives may seem generous, but they can be cheaper than a flat salary increase, said Daniel Zhao, senior economist at career site Glassdoor. Still, he said, “Committing to a new benefits program is a fairly important move, demonstrating a long-term commitment rather than a coupon or one-time bonus.”
Nataly Mendoza Yanez joined JBS four and a half years ago as an employee of the manufacturing floor in Tolleson, Arizona, and was transferred to the Human Resources Department. She plans to study international business in August at the nearby Glendale Community College with the help of the company.
“It feels like a chance has come down from the sky,” said Mendoza Yanez, who hopes to work for a JBS unit in Australia someday. “I’m really excited. I was going to go back to school, but it costs money.”
The leisure and hospitality industry, which has regained its vibrancy after being nearly completely closed last spring, is particularly competitive for new hires.
Applebee’s aims to hire 10,000 people this summer and announced last month that it would distribute free appetizer vouchers to those who booked interviews. According to Applebee’s President John Saiwinsky, the restaurant chain wanted 10,000 applicants, but won 40,000 as a result of the offer.
“Our best-selling category is appetizers, so we decided to offer an app for the app,” says Cywinski. “A lot of guests are coming back, but not all the team members we need.”
Omni Hotels & Resorts offers a variety of incentives to attract employees this summer. New employees can also stay at an Omni Hotel of their choice for three nights free of charge.
“We’ve made it possible to get this job separate from the hotel rooms so that employees don’t have to worry about where they live,” said Joy Rothschild, Chief Human Resources Officer at Omni. “I have never removed a room from my home inventory.”
Members of the culinary team will be provided with a free set of knives and will be able to leverage their expertise in weekly roundtable discussions with the executive chef in the kitchen where they work.
“We had to do something to get the attention of the culinary students,” Rothschild said. “I’ve seen a lot of people who offer financial incentives, but I feel that’s not enough. The college students who come are looking for more than a salary.”
Cash is not completely obsolete. All Omni summer hires will receive a $ 250 signature bonus and a $ 500 retention bonus at the end of the season.
Omni also raised salaries based on experience and created a new hierarchy for some jobs. At Omni Barton Creek Resort & Spa in Austin, Texas, beginner-level housekeepers earn $ 16 an hour, but housekeepers with more than two years of experience now earn $ 17 an hour.
Chuck E. Cheese, a chain of family entertainment centers, hired 5,000 employees this summer and recently expanded its scholarship program. We also offer a $ 1,500 bonus when employees refer managers.
Rothschild believes that additional incentives are needed to meet the ranks. If anything, she added, the new one is on the way.
“I don’t think the incentive is over,” she said. “I would like to see how much traction these products can provide, and I expect more products to come out.”
From appetizers to tuition, incentives to job seekers grow Source link From appetizers to tuition, incentives to job seekers grow