With starting salaries set to rise by just 1.4% in the year ahead, research by recruitment specialist, Robert Half UK has revealed half (50%) of UK employees are satisfied with their salaries and feel they are paid fairly given their efforts and achievements at work. In a sign that it’s not just salary that’s important in the workplace, over a third (37%) would be open to re-evaluating their salary expectations in the hunt for their ideal job. More than three in 10 (31%) would also be willing to take a pay cut in order to secure their dream role.
Alongside pay, increasing numbers of employees are seeking a purposeful career. Overall, workers expect to be happy in their roles (84%), to get on well with their teams (68%), to find their jobs interesting (66%), and to have friends at work (62%). The majority also want to feel a sense of accomplishment (63%), have a good work-life balance (63%), be proud of their organisation (60%), and to feel appreciated by their bosses (50%).
As the war for talent emerges most strongly in areas like accounting, finance and technology, businesses are looking at alternative ways to reward and motivate employees. Some organisations are introducing flexible working policies (17%), early finishes on a Friday (14%), additional annual leave days for well-being (14%) and sabbaticals (7%) to create a happier working environment for staff, whilst fulfilling their expectations.
“Rather than just competing on salary alone, many businesses are looking beyond pay and at the full remuneration package they can offer to keep staff engaged,” said Phil Sheridan, Director, Robert Half UK, South America and the Middle East. “When attracting candidates to work for their organisation, businesses are increasingly needing to sell the career potential, the employer brand and the organisations culture at the same time. Alongside offering competitive salaries, there is also a focus on rewards that contribute to creating a happy, blended workforce and a greater sense of satisfaction at work.”
Paul Gray is an entrepreneur and digital publisher who creates online publications focused on solving problems, delivering news, and providing platforms for informed comment and debate. He is associated with HRZone and has built businesses in the HR and professional publishing sector. His work emphasizes creating industry-specific content platforms.
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