Recently people2people and Frog Recruitment released it’s annual 2023 Employment and Salary Trends Report. This year's market report delves into the future of recruitment, job seekers' expectations and company culture, including the most wanted employee benefits for 2023.
In a competitive job market, job seekers are looking for more than just a good salary. By offering a comprehensive benefits package, a business can attract and retain top talent. It also can lead to an increased employee satisfaction and morale within the organisation. When employees feel that they are valued and appreciated by their employer, they are more likely to be engaged in their work and to be motivated to perform well.
The top 3 benefits that were made a priority by job seekers this year was package and allowances, flexibility, and learning development.
Package and allowances
In terms of package and allowances, 50% of job seekers ranked insurances as a top priority for them, followed by connectivity allowance and healthcare subsides at 46% and 42%. Package and allowances are important to job seekers because they directly impact their overall compensation and benefits for the job they are considering. These allowances can make a significant difference in the employee's overall income and quality of life, and boost morale.
Flexibility
Flexibility continues to be a high priority for job seekers with 76% of those surveyed ranking flexible working hours as their main concern. This was followed by flexible work location, and overtime payments at 71% and 60%. Over the last year 39% of job seekers have asked for more flexibility during job interviews, indicating that hybrid working introduced during the pandemic still proves to be a preferred model for people.
Learning and Development
Lastly, learning and development has emerged as a new priority for job seekers, with career development training ranking number 1 at 79%, followed by wellbeing support programs and study allowances at 54% and 31%. In some instances, job seekers ranked having the opportunity to progress and develop through a role and company, over having their desired remuneration at the time.
Want to ensure your business stays ahead of the Australian, New Zealand, and United Kingdom job market? The 2023 Employment and Salary Trends Report is ready to hit your desks now. For the sixth year running, this year’s comprehensive market report delves into the future of recruitment as well as exploring job seekers’ expectations and company culture alongside labour market trends. Get your copy today: www.people2people.com.au/latest-market-report
