Monetary compensation is no longer the only aspect that Colombian employees take into account when they decide to take a new job, according to a recent survey.

Nowadays companies have the great challenge of knowing how to retain their employees. According to the opinion of various experts, this understanding is what determines the success and profitability of the organization. However, the task is not easy, since it is becoming increasingly common for workers to be seduced by other companies within the first 90 days of employment.  

According to a study by Acrip and  the Ministry of Labor in Colombia, cited by Forbes magazine, more than 22% of Colombian companies require between four and six months to  fill key vacancies, while 12%  can even take up  to 12 months to achieve it. Therefore, an early departure of the employee translates into a lost investment, either in economic or human terms.

Employment in Colombia: what benefits are employees seeking?

This difficult scenario has made many companies re-consider the details that employees look at most when opting for a new position.

In that sense, a survey by the firm Bain & Company revealed that 56% of the employees consulted continue to prioritize benefits associated with salary. However, other areas are gradually gaining ground, such as flexibility (42%) and making it an interesting job (39%). Healthy interpersonal relationships (36%) and the opportunity to learn and grow (27%) also score strongly.

The growing trend of benefits other than merely salary benefits is no coincidence. This was evident by the Talent Trends Report 2021 of the LLYC consultancy, in which it was detailed that the greatest concerns of workers are physical and mental health and  balance between  private and work life.

This was a consequence of the Covid-19 pandemic, which resulted in a harsh psychological impact on the population. Now it is more common to see companies, not only in Colombia but globally, embrace a hybrid work schedule. 

While there is obviously no one perfect list of employee benefits, experts referenced by Bain indicated some good practices to consider. These, say specialists, are in line with current trends in the labor market.

1. Move from attracting talent to creating talent. This, in other words, involves investing frequently in learning and cultivating a growth mindset in the company.
2. Know the staff and the work team. Helping people reach their full potential should be a priority. To achieve this, you must know the issues that motivate employees to be part of the organization.

Offer flexibility to build a career within the company. The accumulation of experiences in the company will encourage workers to acquire new skills. In this way, the employer must support the personal development of each member to lead him to deliver the best of himself.

In our company we are constantly looking for Colombian talent to help match them with an organization where they can have growth and professional development along with benefits, opportunities and much more. If you have yet to consider hiring Colombian professionals to expand your business, this can be your chance! 

At TCA – The Colombian Advantage, we have one of the most valuable resources: the talent of our people. For more information on how to recruit Colombian talent to join your team, contact us!