Attracting (and keeping) talent is one of the great concerns of HR departments in recent times. It is not something easy, especially in some sectors, where the offer is scarce and there is more and more demand. But professionals have certain allies to Make your job offers more attractive. An example of this is flexible remuneration, the benefits of which multiply in difficult times, such as the present.
In fact, the work environment has changed so much in recent years that receiving a salary at the end of the month for the work done It is not enough for the workers. For this reason, Cobee has published this ebook where they tell you how to improve the links between the workforce and the company. In addition, to delve deeper into this topic we have spoken with Borja Aranguren, CEO & co-founder of Cobee.
MuyPymes: Is it possible to attract talent in times of inflation?
Borja Aranguren: Spain closed 2022 with an inflation rate of over 8% while wages only rose by around 2.4% on average. In this environment, and with great difficulties in finding financing in the markets, companies may have more problems getting paid for the most qualified talent, since these profiles have much higher salary bands than the labor market average.
For this reason, it is important to work a very clear employer branding strategy so that, in addition to offering a competitive salary, the company is able to attract this talent with compensation plans that go one step beyond monetary salary. Physical and emotional well-being strategies are basic, in addition to having a corporate culture and values that can seduce the most demanded profiles.
MuyPymes: What are the main claims of employees in difficult times?
Borja Aranguren: According to the latest Cobee Employee Benefits Report, workers have varied their interests significantly in recent years. If in the middle of the pandemic, health issues were the ones that interested them the most, now problems related to emotional health or financial well-being are their priorities.
In other words, companies must have tools in their compensation plans that give a clear response to these new concerns that are closely linked to the current economic and social situation.
VerySMEs: How is it possible to increase the salary without incurring more expense?
Borja Aranguren: One of the most useful tools for improving the wages of workers without incurring high labor costs is flexible remuneration. For example, with the benefit plans offered by Cobee, a company can be able to raise the net salary of its staff by up to 15%, an amount that represents an extra payment per year and that, in addition, the employee notes every month on your payroll by reducing the tax burden on your personal income tax.
In addition, the company does not have to worry about administrative procedures thanks to the ease of having a unified platform and a single provider, something that also considerably reduces operating costs.
VerySMEs: What advice do you give SMEs in times of economic uncertainty?
Borja Aranguren: In times of economic uncertainty it is very important to take into account growth forecasts, expenses and have contingency plans to solve eventualities quickly and without weighing down business figures. With compensation plans, SMEs can have a more reliable and accurate control of how their personnel expenses will evolve, at the same time that they can offer their staff a salary increase without having to undertake new expenses that they cannot later meet due to changes in the economic cycle.
Furthermore, in the case of Cobee, the platform allows without major complications to register or cancel users and users without having to compromise the rest of the staff. In the same way, you can segment the benefits chosen for different groups of people and customize the experience to the maximum, adapting it to both the needs of the company and the team.
MuyPymes: How can the purchasing power of the workforce be improved?
Borja Aranguren: In addition to the already mentioned flexible compensation plans, there are other methods that can help the workforce to improve their purchasing power. Social benefit plans also help teams in the same way as flexible remuneration, since it allows them to have economic endowments to cover expenses derived from their work, such as transportation, food or training.
In this way, the company can schedule deliveries that are also exempt from the payment of personal income tax, allowing the net salary of workers to be substantially improved. Another of the decisive factors is the possibility of having benefit plans that have discount coupons, through which the templates can access commonly used products and services (fashion, travel, entertainment…) at more competitive prices.
And another of the most important elements to take into account for any of the examples mentioned is the importance of having financial training courses in companies so that staff know How do all these mechanisms really work? that help them drastically reduce their tax bill by making much smarter use of their salary.
