Topic: Uncategorized

TotalRewards Software to Help Businesses Attract New Hires With a Free Version

Online Platform Showcases Full Value of an Employment Offer to Give Businesses the Upper Hand Amid Talent Shortage

ROCKLIN, Calif.  – Dec. 1, 2021 – TotalRewards Software, the first online total rewards marketing platform, is providing their digital offer experience feature set, CandidateRewards Xpress (CRX), at no cost to users for their hardest-to-fill position.

CandidateRewards Xpress allows companies to customize an interactive candidate portal that goes beyond a traditional offer letter to present a comprehensive picture of cash and non-cash rewards, benefits, company values, and more. On the backend, real-time data and behavior analytics accessed through the employer dashboard provide actionable insight that can help close candidates faster.

According to a recent article, 54% of companies globally report talent shortages—the highest in over a decade. This shortage is also causing a shift in the relationship between employee and employer. Employees are now in a position of control, leaving companies with a greater need to understand changing priorities of their job candidates to be competitive.

With the “Great Resignation” seeing nearly 4 million people leaving their jobs each month, companies must do more to showcase the breadth of compensation, perks, and benefits they offer to stand out.

“There are many factors at play in the talent shortage, including generational shifts, skills gaps, the post-pandemic workforce awakening,” said Ray O’Donnell, president of TotalRewards Software. “In the aftermath of this unprecedented gap between job openings and available talent, companies are favoring a digital offer experience over the bland, static offer letter to win top talent.”

To aid in the quest to demonstrate the importance of digital offer experiences, companies are now able to get a free trial of Total Rewards’ digital offer experience platform at no cost for their hardest-to-fill role. Through the process of creating a digital offer with CRX, companies can prove the value of the platform before making the full investment of time and resources away from manual offers.

Learn more at https://totalrewardssoftware.com/candidate/

About Total Rewards: Total Rewards has been communicating total rewards using their web-based platform since 2007. Their principals, however, have been communicating total compensation since 1991. Though the terminology has changed over the years – from hidden paychecks, employee benefit statements, and total compensation statements to the more recent total rewards statements – their goal remains the same. Provide fanatical customer support with a product that communicates an organization’s financial value proposition to their employees, new hires, candidates and executives.

Press Contact: Joy Milkowski, joy@accessmarketingcompany.com

Digital Offer Experiences: The Sudden Shift of Focus

 

It would be a major understatement to say that nearly every aspect of hiring has changed in the past two years. In-person roles are now fully remote or hybrid, benefits packages are expected to contain provisions for professional development and coaching, and even the way new candidates are discovered has become increasingly more about your network than on who a recruiter can headhunt.

But there’s one aspect that hasn’t changed: offer letters.

Even amid so much advancement in other areas of the hiring process, the offer letter remains static, stagnant and wholly uninspiring. In fact, it’s almost become a hindrance to the hiring process for a variety of reasons:

  • Outdated company brand or values: By the time the offer letter template is downloaded, filled in with the candidate’s information and sent, the company brand, values, structure, etc. may have undergone updates
  • Limited by the print-scan-sign process: Traditional offer letters often require an actual signature, meaning candidates have to print the letter, sign it, scan it and attach it to an email response
  • Versioning becomes a nightmare: When negotiations begin and the offer letter is changed, you might have several versions attached to emails circulating all at once
  • Higher chance for human error: More manual edits to the letter mean more chances for typos or other mistakes that could be detrimental to the hiring process

Combined, these things factor into what ends up being a terrible candidate experience, often causing prospective new hires to jump ship altogether and move on to the next offer.

With a sophisticated and shrinking talent pool, it’s time to pull out all the stops and deliver an offer letter experience that’s far superior to a static PDF. Even the digitized offer letter with its once-revolutionary e-signature upgrade can’t compare to a live, interactive web platform where candidates can view every facet of the employment offer.

A true digital offer experience would be a dynamic one that had real value – not only for the candidate but for the company that extended the offer in the first place. It would be a hub, tailored to each candidate, with detailed information on everything from the true value of their salary to health and wellness benefits to their projected career trajectory with the company.

On the back end, HR teams would gain real-time insights on the candidate’s browsing history, which tab of the offer did they stay on the longest, with which benefit did they interact with the most, and when did they leave their site so that a follow-up email could be perfectly timed down to the second.

Web-based digital offer experiences, like the kind companies can expect with CandidateRewards Xpress, are a boon to the hiring process because they:

  • Ensure consistent and up-to-date company branding: With a web-based hub, you can easily swap out any updated company branding and changes are incorporated globally
  • Eliminate versioning and chance for manual errors: No more emailed PDFs that need to be manually amended, edited or “saved as,” eliminating the opportunity for errors
  • Cut down negotiations: When candidates can see the full value of their employment offer spelled out in benefits, career milestones and salary, there is less need for back-and-forth negotiating
  • Speed up time-to-hire: Real-time analytics enable HR teams to follow up and close the loop faster on prime talent

Have a candidate in mind for a hard-to-fill role? Try CandidateRewards Xpress free right now and see how a digital offer experience can help you seal the deal.

The Standout Remote Offer

 

Remote work.

Even five years ago, the concept seemed a distant hope for the sleeping majority of the workforce. But after 2020 showed corporations of all sizes that remote work wasn’t just possible, but profitable, there’s no going back.

One by one, companies across the globe closed their offices and brought remote work from pipe dream to mainstream. A study by Growmotely (featured in Forbes) last year revealed that 74% of professionals expect remote work to become standard. And with the precedent that’s been set by companies like Twitter, Slack and Salesforce, business leaders are running out of excuses not to offer fully remote positions.

But now that remote is becoming the norm and professionals on the hunt have had a year or more to narrow down their must-haves in a new remote position, how can companies ensure they land their dream candidate?

We’ve compiled the top three things your remote offer needs to land top talent in 2021.

1. Fully remote or hybrid work option

Professionals coming from fully in-person roles may prefer a hybrid work option to help transition to remote work. Meanwhile, those who have already been fully remote may find it jarring to have to return to in-office work. Offering one or a mix of these two models ensures you’re attracting the most (and best) talent.

2. In-demand benefits

Surveys conducted in the last year reveal an array of in-demand benefits that job seekers have their eye on. Topping the list are healthcare for prospective hires and any dependents, professional development to hone current skills and develop new ones and coaching from mentors within your company to learn leadership techniques. Other important benefits rising in popularity in 2021 include childcare, home office expenses and mental health support.

3. Flexible work model

People are looking for more flexibility in their workday to allow for hobbies, childcare and a better work/life balance. In fact, some industries have taken this flexibility to a whole new level (or what some would argue is the next level of the new normal) and begun implementing a four-day work week with alternating Mondays and Fridays each week to allow for more time to unwind.

If your business is looking to land that perfect candidate, the three key ingredients above are a necessity for your remote offer. Professionals seeking a new role in 2021 are expecting a seamless hiring experience and they’ll keep looking if their must-haves aren’t met.

One of the easiest ways to deliver on that seamless hiring experience and sign those perfect candidates faster is by extending offers through an applicant tracking platform like CandidateRewards Xpress. This enables employers to send prospective new hires an offer letter experience that’s far and away better than the outdated, static PDF attachment.

On a dynamic candidate tracking platform, the employment offers candidates a way to view not only their salary, but the full value of your offer. From health benefits to 401k matching, even career path models, it’s an immersive, interactive experience for candidates.

And that experience isn’t only an improvement for the candidate – it also provides a wealth of invaluable data and analytical insights for the HR team. With real-time information on when the candidate visited their personalized offer letter on the platform and detailed stats on what they interacted with most, HR teams can perfectly time follow-up responses and seal the deal faster on prime candidates.

The talent pool in 2021 is sophisticated and shrinking. Don’t miss out on your perfect candidate because of a lackluster offer.

Ray O’Donnell is the founder and CEO of TotalRewards Software. To learn more about effectively marketing total rewards to employees, executives and candidates, get a free trial of TotalRewards Software today.