Workers looking for better pay and benefits

A new survey has revealed that job seeker confidence is at an all-time high with nearly half of workers looking for a new job.

The Robert Half Candidate Sentiment Survey found that 43% of those job hunting are doing so for a better salary. Other motivations include better benefits and more flexibility.

Twenty-eight per cent said that their current employer’s benefits system wasn’t competitive with others in their field, while 72% believe that companies need to offer more flexible working arrangements in order to retain them.

Matt Weston, Senior Managing Director UK & Ireland, at Robert Half, commented, “Candidate confidence is at an all-time high which, in a recession, is unheard of. However, following a year of skills shortages that have yet to be rectified and with a cost-of-living crisis a key concern for workers, it’s clear that candidates are very aware that they hold the power.

“And with so many people looking for a new job with better pay, employers are going to need to seriously rethink their attraction and retention strategies to contend with the changing wants and needs of today’s workforce without breaking the bank.

“This should include reviewing training & development offerings, ensuring there are tangible career development opportunities and that Diversity, Equality and Inclusion and ESG strategies are appealing to today’s workers.

“Employers are already facing a mass talent exodus and to avoid this worsening, more needs to be done to ensure existing staff are retained. And while we know from our Salary Guide data that counter offers are seen as a short-term fix to retain talent, simply throwing money at a problem is never going to help employers’ talent woes long term.

“The Candidate Sentiment Survey clearly shows that, while salary is king for candidates in the current climate, flexibility and other benefits are also important for workers and must be an integral part of companies’ retention strategies in what will be a tough hiring landscape this year.”

To find out more about contracting please contact Jaime on 01442 795 100 or email jaime.thorpe@dolanaccountancy.com.