When it comes to searching for the most desirable employment package, are employees’ expectations always realistic, or are many destined to place themselves on an eternal path searching for something that does not exist?
The end of the year can be a time of reflection, as individuals assess what they have achieved over the previous 12 months and evaluate what they would like to change in the coming year. With the cost-of-living crisis continuing to affect so many, it is perhaps unsurprising that the desire for a higher salary and, with it, greater financial stability, is a goal in many households. The importance individuals place on their desire for a wage that keeps pace with inflation and helps them to achieve a better standard of living has been demonstrated by the numerous strikes that have taken place over the past few years, some more successfully than others.
But, despite the headlines given over to it, a higher salary isn’t the only item on employees’ wish lists for 2024. Research published by PR agency Unhooked Communications this week found nearly half (46%) of the more than 2,000 employees surveyed said working for an ethical employer was more important to them than a higher salary. In addition, just under two-thirds (62%) said they valued a better work-life balance over getting paid more, while 53% preferred to work for an employer that enabled remote work at least some of the time.
Other priorities included: corporate social responsibility and working for an employer that gives back to local communities through fundraising, donations and volunteering (cited by 52%), working for an organisation that has an environmental, social and governance policy (46%), and working for an employer that champions diversity and inclusion (57%).
Separately, PIB Employee Benefits’ Mind the gap research, also published this week, found more than half (53%) of British employees would move to the same role at a different employer for better benefits.
Such demands do not appear to be going unnoticed by employers. Research published by Barnett Waddingham earlier this week, for example, found that employee demands were the most significant issue for the HR directors surveyed. Just over three-quarters (78%) said greater working flexibility was a top concern, followed by a stronger value and purpose, and more hybrid working opportunities.
But, with catering for each individuals’ wishes a near impossible task, no matter how extensive an organisation’s employment package, some employees will inevitably look elsewhere. Although with 51% of respondents to Barnett Waddingham’s research claiming employees’ demands are unrealistic, are some destined to be searching for an unobtainable ideal?
Debbie Lovewell-TuckEditorTweet: @DebbieLovewell
