Salary and pension are less important to prospective and existing employees compared to 12 months’ ago, with flexibility and wellbeing benefits now of
Salary and pension are less important to prospective and existing employees compared to 12 months’ ago, with flexibility and wellbeing benefits now of the most importance. This is according to employee experience expert WorkBuzz’s ‘The State of Employee Engagement 2021’ report, which delivers the latest insights from over 300 organisational leaders, HR professionals, and industry experts.
The research reveals that just four in 10 HR professionals (43 per cent) highlight salary as being more important to existing and prospective employees compared to 12 months ago, with pensions even less important – cited by just 28 per cent of respondents.
This is in sharp contrast to flexible working, cited by nine in 10 HR professionals (92 per cent) as being more important to employees and jobseekers compared to a year ago. Wellbeing support – a close second – is mentioned by 90 per cent of HR professionals as being an employee and jobseeker necessity.
“The pandemic has led to many employees reconsidering their priorities,” says Steven Frost, Founder and CEO of employee engagement expert, WorkBuzz. “Salary and traditional employee benefits such as a pension scheme, are hygiene factors. With work-life balance now front of mind, greater flexibility over where and when people work has become key, and wellbeing support has quickly moved from being a ‘nice to have’ to a ‘must have.’”
A great company culture is also of more importance to employees and prospective employees compared to 12 months’ ago – mentioned by seven in 10 HR professionals. This is closely followed by an employer’s diversity and inclusion (D&I) policy, and opportunities for personal development and growth, each mentioned by 66 per cent of survey respondents.
Frost says, “The employee landscape has evolved considerably since the start of the pandemic, and workers are now demanding more lifestyle and employee experience benefits, such as a thriving workplace culture. Businesses must adapt to what employees want, and quickly, to attract talent and prevent their best people walking out the door. To support this, leaders should look to implement an employee listening strategy, which focuses on gathering regular insights on employee expectations and priorities.”
To read the full ‘The State of Employee Engagement 2021’ report, download it here.