Question: We are competitive with our peers on pay, but that isn’t enough in this tight labor market. What else can we do to attract and keep the best candidates without breaking the bank?

A: Once compensation is right, consider expanding your view of rewards to include elements that can differentiate the employee experience in a way that other employers can’t easily replicate, say Laura Mason and Mary Anne Sardone of Mercer Health & Benefits. Some ideas:  

make it easier for employees to seek opportunities within the company expand development, and training to help employees build critical skills. …