As the war for talent continues across the globe, companies are reviewing their hiring and retention processes to find new ways to gain the attention of job seekers and their own current employees.
While many believe the go-to answer is to offer enormous pay cheques, according to a survey from PwC, this isn’t the only thing Australians are paying attention to when scoping out their employment options. In fact, employees are willing to sacrifice up to 20 per cent of their pay and take a cut in return for other appealing facets of a job role.
With talent in control more than ever before, here are a few things they are looking for in their next position, especially amidst the Great Resignation.
1) Flexibility
Currently, more than 40 per cent of employed people regularly work from home, according to data released by the ABS last August, up from around 30 per cent before the pandemic.
But would people be less reluctant to take a job or continue working in a job that forces employees to work from the office indefinitely, rather than allow for at least a hybrid arrangement?
The answer is generally yes, especially when some companies are even trialling four-day work weeks with uncompromised pay.
While there are benefits to working back in the office such as watercooler moments, maintaining culture, brainstorms and collaboration, the pandemic has allowed workers to realise the pitfalls that also come with it, including the cost of commute, reduced productivity and work-life imbalance.
Employers need to reevaluate the function of the office in the post-COVID environment in order to get the most out of workers and gain the attention of potential hires.
2) Impactful perks
And as the lines between work-life and personal-life continue to blur and top talent becomes harder to find, employees and jobseekers are requesting more from companies.
While free pizza, company-branded merchandise and ping pong tables might have cut it pre-pandemic, workers now are looking for perks that will provide real value and benefit them for the long-term.
These “essential” perks often come in the form of growth and health initiatives, such as learning and development opportunities, mentorship, mental health and wellness programs and the chance to develop and nurture their out-of-work passions, such as maintaining a fitness routine.
3) Supportive culture
According to a FlexJobs survey, nearly one-third of employees are considering quitting their jobs and one-quarter resigned over the past six months, citing toxic company culture as their top reason for leaving.
The reality is Australians are no longer wanting to slug it out at jobs that they hate waking up for, instead opting for workplaces with healthy company cultures, strong management and supportive employees.
Although it can be difficult for companies to admit they have a toxic workplace culture, it is essential for leaders to do their due diligence and get to the root of the problem before their entire workforce packs up.
4) Diversity and inclusion
Workplace diversity and inclusion, whether it is cultural, gender, sexual orientation or neurodiverse, is a vital part of company culture.
At a time when employees and job seekers have the upper hand, companies that prioritise diversity and inclusion are much better placed to win top talent.
Having a strong diversity and inclusion policy (D&I) also helps to improve employee satisfaction and retention, as employee turnover happens most often when they don’t feel that they belong or feel safe in their work environment.
5) Strong onboarding
A survey by BambooHR found that more than 80 per cent of employees who gave their onboarding experience a high rating consistently hold their organisations in an inflated regard, have greater clarity in their roles, and are more committed to their jobs.
Employee onboarding is a company’s opportunity to showcase what a culture of mutual support and well-being looks like to new recruits. A good onboarding procedure may boost or break an employee’s desire to stay with the company. If done in a lacklustre way, a new employee may start to regret their decision of accepting the role at the company in the first place.
As companies try to find ways to give themselves the upper hand when it comes to recruitment, they can get one step closer to finding the right fit by ensuring they tick all these boxes and are ultimately creating a welcoming environment.
