- Work-life balance and job satisfaction trump salary as THE most important aspects of working life
- HR is developing a bonus culture with 28% of the workforce receiving a bonus in the past 12 months, higher than the national average of 22%
With research revealing that HR workers rate work-life balance and job satisfaction as more important than salary, recruitment specialist REED is urging employers to give consideration to their recruitment and retention strategies.
The poll of over 1,600 workers by YouGov, in association with the launch of the REED 2015 Salary Guides, questioned Brits on their attitudes to work, career aspirations and regrets. With 38% of HR workers claiming that good job satisfaction is the single most important aspect of working life, followed by the need for good work-life balance (25%), it’s no longer just about the salary package.
Results revealed – what matters most across the ages
18-24 Salary and benefits (38%)
25-34 Job satisfaction (31%)
35-45 Work-life balance (31%)
45-54 Salary and benefits (25%)
55+ Job satisfaction and work-life balance (joint top – 32%)
Career carousel
The poll also revealed more than one in five (21%) of those in HR are unsatisfied at work, with a quarter (27%) actively looking for a new job over the course of the next 12 months.
While slightly more than one in ten HR workers (13%) have stayed loyal to the same employer throughout their career, almost a quarter (23%) have changed employer more than seven times. When asked why they changed role, workers reported better prospects or promotion elsewhere (51%), better salary (38%) and the search for a better work/life balance (27%) as the top three motivators.
Tom Lovell, group managing director at REED, said:
“In a candidate-led market such as this, employers need to think hard about how they attract and retain staff. The HR industry has been more prolific than others in rewarding its staff with bonuses, 28% of those asked said they had received a bonus, showing it is taking action to keep staff. However, what this research shows is that although salary is very important, now we’re out of the recession it’s no longer just about pay – employers need to consider many other factors, such as flexible working and how they can offer the greatest job satisfaction.
“Our research shows that in the last 12 months, 43% of HR workers received some form of pay rise, and 28% received a bonus. However, with 20% having received no benefits, the fact that 27% are planning to look for a new role over the next 12 months is hardly surprising. Employers need to start taking action and think wider than just the salary package.”
The REED 2015 Salary and Market Insight report can be obtained www.reedglobal.com/salaryguide
Charles Staples is an editorial assistant at HRreview.
