Why money is only one motivator for today’s jobseekers
Jody Fazldeen and Dionne Sharp, directors and co-founders of Talentpath
These days offering the highest salary is no guarantee of securing the best talent in any field. We look at what motivates candidates today and how businesses can attract them.
In the world of recruitment a decade ago the expectations of clients and candidates alike were pretty straight forward; employers wanted the right person for the job at the right price and candidates wanted a job which gave them a career trajectory and good salary.
While these remain the fundamentals of recruitment for many companies, there has been a significant shift in the past decade where expectations are changing and terms such as work-life balance, flexible working conditions and the internal culture of a company have become as much a focus for candidates.
To help employers understand this changing landscape and keep pace with it, an Australian recruitment firm, Talentpath, has developed the 2018 Talent Guide, which profiles high performers and top talent across a number of sectors to unearth what it is that drives their career decisions
The Talent Guide reveals that flexible hours, part-time work, work culture and professional development are proving to be the real enticements for quality staff and employers who want to remain ahead of the competition need to factor this into their recruitment processes.
The Talent Guide, also shows that those working in Human resources and sales and marketing are most likely to be attracted to workplaces and cultures where the health and wellbeing of staff is on the radar of management and where there were clear career pathways.
Staff working in the field of finance are as attracted to flexible hours and work location as well as a positive internal culture as they are to a competitive salary while those in engineering were drawn to projects which are large in scale and size, allowed them to use sophisticated technology and facilitated professional development.
For customer service roles where remuneration is traditionally a combination of base salary and incentives, the internal culture of a company was as important to candidates as wages when it came to accepting a position.
Candidates looking for administration and office support roles again were more likely to be enticed by a company’s culture and flexible working hours and arrangements than a higher salary alone.
Companies which recognise the need to reward employees with benefits which go beyond their payslips are rewarded with higher levels of engagement, input and staff retention.
Increasingly candidates are no longer prepared for their life to centre around their work as they chase a balance between earning an income and having the time to enjoy that with their family and friends.
And as a result, employees who feel their wellbeing is valued by their employers are likely to be more focused and productive when they are at work.
Employers need to understand what drives the candidates they are seeking and that is different depending on the role, the company and the candidate.
Smart employers are open to negotiating remuneration to include flexible hours and working arrangements along with the actual number that reflects their salary component.
Talentpath’s 2018 Talent Guide has been developed based on 11 years of business and information gathered from thousands of conversations with candidates and is becoming invaluable for employers wanting to understand how to attract and keep the best talent in their fields.