Less than one-fifth (13%) of employee respondents would be tempted to consider a new job if it offered benefits that were more aligned with their needs, according to research from Hays.
Its What workers want report 2017, which surveyed 13,650 UK employers and employees, also found that 36% of employee respondents would accept a pay cut in order to secure more annual leave.
The research also found:
- 61% of employee respondents would consider taking a pay cut to achieve elements outside of pay that are important to them when looking for a new job, such as their ideal benefits package.
- 58% of employee respondents would take a pay cut of over 10% in order to work for an organisation that offers a diverse and engaging culture.
- 84% of employee respondents always look at an organisation’s flexible-working policies when considering whether to apply for a job, and 31% will always take into account an organisation’s diversity policy.
- 15% of employee respondents consider maternity and paternity policies when searching for a new job, and 19% consider social responsibility.
- 49% of employee respondents rate their work-life balance as average, poor, or terrible, and 67% would like to work for an organisation that restricts out of hours working, for example overtime, checking emails or taking calls.
- 51% of employee respondents state that performance-related bonuses are either demotivating or have no impact.
- 55% of employer respondents discuss employee benefits with potential candidates during the interview process, and 28% of employee respondents recall this being discussed.
- 21% of employer respondents rarely or never discuss health and wellbeing policies with potential employees, and 28% think that flexible working is not important to their organisation.
Nigel Heap (pictured), managing director at Hays UK and Ireland, said: “It’s encouraging to see the majority of our workforce is ambitious, with many desiring to reach board level during their career, and they also expressed a strong propensity to be loyal. However, employers need to ensure they are looking for ways to nurture this and providing the work-life balance and positive career experience that their employees want.
“While pay remains the focus for employees considering staying in a role or moving jobs, employers need to be aware of other factors influencing employees’ decisions. Culture is important, and employees want to feel their career development is being approached on a personal basis in an organisation where they are a strong cultural fit.
“It is worth remembering that a little can go a long way; above all employees want recognition and respect from a promotion and to be empowered to make choices that best suit them, from what benefits they can take to the types of training they can access.”