Attracting and retaining great talent has never been more competitive. For employers, the challenge isn’t just about hiring new people – it’s about getting the balance right between competitive pay and meaningful benefits. There’s no doubt that salary remains a key factor for new hires. In a market where skills are in high demand and cost of living keeps increasing, candidates expect pay that reflects their experience, the role, and the wider market. Offering a competitive salary is often the first step in getting candidates through the door, and falling short can quickly remove your business from consideration. However, pay alone is rarely enough. Benefits still play an important role in how a role is perceived, particularly when candidates are comparing multiple offers with similar salaries. Benefits help tell the story of an organisation’s values – whether that’s a focus on wellbeing, flexibility, family life, or longterm security. Pensions, healthcare, flexible working, and learning opportunities can all make a real difference to how attractive an offer feels. One area that frequently comes up in conversations with prospective hires is holiday entitlement. While statutory holiday allowance sets the legal minimum, it is often one of the first benefits candidates look to negotiate, especially if they have been in their current role for an extended period and have earned enhanced holiday. Additional days can be highly valued, particularly by those seeking a better work-life balance and can sometimes be more appealing than a small salary increase. For employers, this can be a relatively low-cost way to enhance an overall package while meeting candidate expectations. Ultimately, getting the balance right means understanding what matters most to your workforce. Competitive pay gets attention, but a wellconsidered benefits package builds loyalty and engagement. By taking a holistic view of reward – rather than focusing on salary alone – businesses are far better placed to attract the right people and keep them for the long term. Getting the Balance Right – Salary vs. Benefits www.HenleyExecutive.co.uk If you need advice on recruitment or would like help with Salary and Benefits Benchmarking, give Max Levenger or Lynsey Arnold a call on 0333 567 4888 or scan the QR code in the image.
RkJQdWJsaXNoZXIy NDUxNDM=