With starting salaries set to rise by just 1.4 per cent in the year ahead, research by recruitment specialist, Robert Half UK reveals half (50 per cent) 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, more than a third (37 per cent) would be open to re-evaluating their salary expectations in the hunt for their ideal job. More than three in ten (31 per cent) 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 per cent), to get on well with their teams (68 per cent), to find their jobs interesting (66 per cent), and to have friends at work (62 per cent).
The majority also want to feel a sense of accomplishment (63 per cent), have a good work-life balance (63 per cent), be proud of their organisation (60 per cent), and to feel appreciated by their bosses (50 per cent).
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 per cent), early finishes on a Friday (14 per cent), additional annual leave days for well-being (14 per cent) and sabbaticals (seven per cent) 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,’ says 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.’