Job Offers For The Long Run
“Want to hire professionals that stick around? Then raise their pay and give them more time off.” – Bryce Ward 4/3/2022
If you haven’t heard, Amazon workers in New York City have voted to unionize for better wages and safer working conditions. The new Union aims to raise wages to a floor price of $30 an hour. Compared to my home state of Washington’s hourly pay of $15 an hour, that is a considerable move away from minimum wage. The Union’s push for $30 an hour has gotten me thinking. What would be the best long-term job offer for a young professional like myself?
What Do I Offer Employers?
Professionally I am a Digital Marketing Specialist or, as I like to call myself, a one-person marketing department. I can build websites from the ground up, edit footage into high-quality videos, design graphics, and write copy for emails, websites, & social media. Suppose your company is looking to add a skilled Digital Marketing Specialist to build the foundation for your marketing department or aid an existing marketing team. In that case, you will need to beat your competition’s offers. So what will make your company’s job offer stand out?
A Base Rate Of $30 An Hour
As you may be aware, prices have been steadily rising across the board in many sectors. In recent years, housing and rent prices alone have priced many out of their homes. To cover one’s cost of living, you would need to be earning at least $25 an hour on a 40-hour work schedule. For Digital Marketing Specialists, $30 an hour or $62,400 a year before taxes would be the ideal starting point as many companies have a habit of lowballing potential hires at around $18 to $21 an hour. In addition, offering regular raises that keep pace with inflation will help to retain your all-star employees. After all, no one wants to work for a company that can’t pay enough to keep a roof over their heads, let alone put food on the table.
Work From Home Remotely
As Covid has taught, remote work has been a blessing for many. That is because transportation to and from work can be costly both in time and money. In fact, for my current in-office seasonal job, rising gas prices have increased my monthly gas budget from $60 to $100. Also, as a bonus, you, the employer, save money on having to rent out office space for your employees. Money that can be reinvested into your business and the team that keeps it moving.
A Full 30 Hour Work Week
Reducing the average working day from 40 hours a week to 30 hours a week can be very appealing if you compensate your employees appropriately. Fewer hours spent at work can be more time spent with friends, family, hobbies, and developing new skills. Time for me to bust out the canvas and get painting! Having more time outside of work can help relieve stress and allow your employees to be more productive at work.
Mondays Are Optional
Now here is an exciting idea having Mondays as an optional working day. Now, what do I mean by an optional working day? Occiansly, you or your employees manage to complete their portion of that week’s project ahead of the scheduled deadline. So instead of sitting at the computer on Monday waiting around for Tuesday’s tasks to roll in, employees can choose to take the day off as a reward or use the day to get ahead on other projects.
A Better Retirement Plan
Job hopping has become the norm for employees. Whether seeking a change in their career path or joining a different company for better pay, you will have some job hoppers in your employ at one point or another. As a result, I recommend changing the traditional company retirement plan. Instead of having employees buy into a company’s retirement plan, give the option to have the employer buy into the employee’s retirement plan. For example, I invest in an IRA every year for my retirement. That is a maximum of $6,000 a year. To keep the math simple, an employer can offer me $1 towards my IRA for every $1 I put into my IRA. That cuts down on my monthly expenses, and the company has a cap of $3,000 a year that they can invest into me as their employee.
Hey, thank you for reading this week’s post! This post was a bit longer than usual, but I hope you enjoyed it. Really when it comes down to making the best offer giving employees more money and time is the best way to go. What do you think? Was there an offer I missed you would like to see on your next job offer? Let me know in the comments below!