In a recent study conducted by Gallup, their team asked over 13,000 employees across the United States from all different industries and demographics what was most important if and when they were to consider a new role – here is what you need to know.
Employees across Canada and the US today look much different than they did at the start of 2020. The pandemic and many other significant worldwide events like Black Lives Matter have made many employees reconsider what is most important in their lives and how their careers can support their lifestyle. Gone are the days when work sculpted someone’s identity. Many employees today want to work for organizations that support what they love to do, that have a mission and values that they stand behind and believe in, and that grant them opportunities to enjoy a life outside of the 9-5.
In the competitive recruitment landscape that we are currently seeing, here are some of the things that employees consider most important when deciding whether to explore opportunities or take a job with a different organization:
1. Increase in Income or Benefits
It is no surprise that pay is one of the most crucial factors for employees when considering if they should accept a new job offer. Since 2015, total compensation has risen to a #1 priority for workers, with 64% of employees naming it as a critical factor when deciding to take a new job. With compensation becoming more transparent through social media, and many workers recognizing their worth, there is no surprise that this is front of mind for job seekers. Wages are rising significantly due to the competition to secure strong talent, and job seekers know there are opportunities for them to make more money. Competitive compensation and benefits ensure employees know that their company values them and acknowledges the work they do. More companies are also moving to clear communication around compensation fairness. If you will not pay your employees fairly for the work and value they add, in today’s market someone will.
2. Wellbeing and Work-Life Balance
Work-life balance and wellbeing have also increased drastically in value since 2015 with 53% of employees citing that these are “very important” compared to 61% today. For many of us, when we were sent home to quarantine at the start of the pandemic, it really set in how burnt out we were. The long commutes into the office and an overall lack of control of our schedule and workload had taken a long toll. As many employers return to the office on a full-time basis, employees are more aware than ever before of job flexibility options, so it is not a surprise that a key factor that candidates are taking into consideration when looking at a new opportunity is flexibility and the option for remote or hybrid work. If your organization is open to offering one of the two, you will have a strong competitive advantage in the marketplace.
As we have discussed, many things have changed over the last few years due to the pandemic and another is the opportunity for autonomy. Many employees packed up their desks and moved home to work. In cases this shift drastically increased autonomy in their roles and schedules. Workers who are not able to use their strengths or are micromanaged by their supervisors are more likely to look at other opportunities. People want to enjoy work that is meaningful, interesting and stimulating to them or they will seek that out elsewhere.
4. Job Security and Stability
What security means and what security feels like for employees has changed a lot since the pandemic. Employees seek opportunities based on industry, prospects, growth, and future expectations. Although this data in the Gallup survey remained unchanged since the last survey in 2015, this will be a defining factor for employees as they consider and entertain new opportunities moving forward.
5. Diversity, Equity, and Inclusion
Many employees, especially Gen Z and Millennials, want to work for organizations that are in line with their values, and that make a conscious effort to work towards becoming a more equitable and inclusive workplace. The Gallup survey discovered that many workers today want to see substantial and concrete change when it comes to diversity, equity, and inclusion. Your organization should be able to answer questions from prospective job seekers about how diversity, equity and inclusion is a priority in with the company, and how the organization’s culture or brand reflects a commitment to DEI to continue to secure top talent. Today, a commitment to DEI in the workplace is non-negotiable for many job seekers.
Recruiting in today’s climate is difficult, and if you are not prioritizing some of these items and ensuring a strong, quick candidate recruitment experience, you will fall behind. Logic Executive Search and Workplace Solutions can partner with your organization to not only help find the best talent, but help review your candidate experience, review your DEI commitments, and much more. Reach out today to learn how we can help your organization stay competitive as we all continue to navigate the continuous, and much-needed change in our workplaces.
Written By: Melina Grande