When it comes to recruiting, are you selling the whole enchilada? Competitive compensation is a key factor in attracting talented employees. But there's a whole lot more to compensation than just salary and health insurance.

Sit down and make an exhaustive list of all the benefits you can offer a candidate.

Do you offer a yearly budget for the purchase of work-related software, books and magazines? Does the boss take everyone out to lunch once a month? Do employees get a training allowance they can spend on courses of their choosing? Do you provide car or clothing allowances? Interest-free loans or subsidized computer purchases? Season tickets to a box seat? Time off to care for family members or volunteer at a favourite charity? Free coffee and juice in the lunchroom?

The possibilities are endless. Just make sure you know each and every benefit that you offer. Clearly articulate these benefits - and their value - during the recruiting process.

You should also review the compensation package during orientation and throughout the employee's tenure. Compensation that attracts is also compensation that retains.