Company cultures thatenable employees to pursue a passion like volunteering instantlystand out from the competition.

Historically low unemployment puts talent in the driver's seat.To attract and retain the people you need to growyour business, start with an open mind and ask yourself: how can wegive workers more flexibility? Adding flexibility to your workplaceis a powerful incentive for job candidates and can ultimately helpwith retention efforts.

1. Work arrangements

Can your organization offer flexibility in when, how and wherework can be completed? Many companies struggle crossing into theterritory of remote work or 'work from home' culture, fearing aloss of control or productivity. While there will always be jobsthat require a fixed schedule or workplace, many jobs can offerflexibility, especially when enabled by today's collaborativetoolset.

Start by trying flexible work arrangements, such as work fromhome, 4x10s (four 10-hour workdays) or summer hours. Engageemployees to help HR codify best practices. Give employees anopportunity to co-create the standards and expectations and they'llfeel a sense of ownership.

2. Paid volunteering

Employees want to make a difference not just on the job, butalso in their communities. Consider offering paid time off for volunteering during the workday.Company cultures that enable employees to pursue a passion likevolunteering instantly stand out from the competition. It can be assimple as a single corporate give-back day with all-hands on deck.It can informal, like a half-day for intact work teams whovolunteer together at a charitable organization, like a food pantryor disaster relief organization.

Paid volunteering is a win/win for employers because your teamswill bond over their common experience and carry that with theminto the workplace. You might also look into empoweringemployee-led groups that sponsor events like a school supply driveor a raffle to raise funds for charity.

3. Debt counseling

Many employees struggle with student loan repayment. Employerswho offer financial assistance or provide financial counselingstand out from the crowd by providing the flexibility that comesfrom peace of mind. Employees may not be aware of debtconsolidation or refinancing options. Retirement account providersoften offer counseling services free with their 401(k) plans. Paidadvisory services like Vault offer a benefit that stands out andmeets employees where they are.

Abbott Laboratories recently tested the idea of a 401(k) match of five percent to employeesthat pay at least two percent of compensation toward student loans.Other companies are considering contributing to 401(k) planswithout an employee contribution for those employees who are payingdown student loan debts. These innovative approaches are bringingnew flexibility to traditional financial benefits.

4. PTO and leaves

Finally, paid time off (PTO) and leave policies provide anotheravenue for flexibility. Employers often constrain these policieswith wait times to accrue PTO, advanced notice for PTO andinflexible leave practices. In an era where employees are willingto leave and take a chance on the job market, it's easier and lessexpensive to provide the desired flexibility than replace atalented performer. For example, allowing a two-week unpaid leavefor the trip-of-a-lifetime might be the right choice for anemployee who has exhausted vacation and has more to contribute.Additionally, providing paid parental or family leave acknowledgesthe whole person—the parent, the caretaker and employee.

To be a top employer in today's labor market, it's important tostart from a place of flexibility. Start with yes or at least ask,“what can we do?” Demonstrating a willingness and openness to newapproaches shows flexibility—even if it does not result inimmediate and dramatic policy change.

Karen Crone is CHRO at Paycor.

Read more: 

• Are you prepared for job candidates to ask, “Whyshould I work here?”
• Why great company cultures rely on making greathires
• 10 most attractive employers for collegestudents