Salary vs Benefits
Around 60% of employees have said they would accept a job with a lower salary if it had better benefits, with only around one in ten employees saying they would move to get a big pay rise. On top of this as many as seven in ten in some regions would move in order to have a better lifestyle. Presumably, getting both would not go amiss either!
Add to this the four in ten UK professionals who would consider a temporary or contract position if it gave them a better work-life balance and the picture for employers gets even more confusing. Do you offer a high salary package to attract candidates, or do you offer lots of lifestyle benefits to motivate candidates to join?
If you want to offer some unusual perks then a recent survey by Adzuna could help. They have compiled a list of job perks that are not seen as the norm. These are their top ten:
- Hangover days
- ‘Pawternity’ leave
- Netflix subscriptions
- Nap rooms
- Hair and beauty discounts
- Christmas shopping days
- Free food
- On-site medical care
- Language lessons
A key requisite of candidates, once they have joined you, is that they want to feel valued and appreciated and can see a clear career development path, although it seems only a few employers are tuned into this. Retaining your talent is a key business driver in todays’ candidate driven market where they tend to hold all the cards.
For employers it can be a difficult and tough task to substantially change your offering, particularly if it has a knock-on effect across your entire workforce, but with a lack of available talent and a challenging business climate it could be time to wake up and smell the coffee for some.