Salary or Satisfaction?
Whilst ensuring salary expectations are managed, there are other factors that employers and hiring managers need to consider.
New research has found that a typical worker’s priorities change depending on their age and life situation.
What matters most across the ages?
18 – 24 – Salary & Benefits – 38%
25 – 34 – Job Satisfaction – 31%
35 – 45 – Work–Life Balance – 31%
45 – 54 – Salary & Benefits – 25%
55+ – Job Satisfaction & Work–Life Balance – 32%
The research indicated that it is in the early years of work (18 – 24) where salary is the priority as young people attempt to get their foot in the door. But, once settled into their chosen career, it is the desire for job satisfaction that comes into play as workers enter their late 20s and early 30s (25 – 34).
The most important factor to those aged 35 – 45 is work–life balance; this is likely due to wanting to spend time with children, however, as people enter their late forties and early fifties (45 – 54), thoughts turn back to salary expectations. In the last period of working life (55+), job satisfaction and work–life balance become more important again – making those final years in employment count.
As en employer, it is important to consider all factors that create an environment that workers enjoy being part of. The desire for job satisfaction and work–life balance is more important than ever, and companies that can offer flexibility as part of remuneration package will be very attractive.