Work-life balance and job satisfaction trump salary as the most important aspects of working life – according to recruitment specialist REED.
Breakdown across the ages reveals changing priorities when it comes to work and play.
With research revealing that workers in procurement roles rate work-life balance and job satisfaction as more important than salary, recruitment specialist REED is urging employers to give consideration to their recruitment and retention strategies.
The poll of over 1,600 workers by YouGov, in association with the launch of the REED 2015 Salary Guides, questioned workers on their attitudes to work, career aspirations and regrets.
What really matters at work
Within the findings, REED identified key trends which indicate how UK workers’ priorities change over the course of their career – which could have a significant effect on the talent management strategies of many UK firms.
With 36 per cent of workers in procurement claiming that good job satisfaction is the single most important aspect of working life, followed by the need for good work-life balance (28 per cent), it’s no longer just about the salary package.
Results revealed – what matters most across the ages
18-24 Salary and benefits (38%)
25-34 Job satisfaction (31%)
35-45 Work-life balance (31%)
45-54 Salary and benefits (25%)
55+ Job satisfaction and work-life balance (joint top – 32%)
The poll revealed that one in eight workers (13 per cent) in procurement are unsatisfied in their role, with one in five (20 per cent) planning to look for a new job over the next 12 months.
While slightly more than one in ten workers (13 per cent) have stayed loyal to the same employer, twice as many (23 per cent) have moved workplaces more than seven times. When asked why they changed employer, procurement and supply chain workers reported better prospects or promotion (43 per cent), better salary (41 per cent) and boredom with their current role (28 per cent) as the top three motivators.
Gert Nzimiro, executive divisional director at Reed Procurement & Supply Chain, said: “In a candidate-led market such as this, employers need to think hard about how they attract and retain procurement staff. What this research shows is that although salary is very important, now we’re out of the recession it’s no longer just about pay – employers need to consider many other factors, such as flexible working and how they can offer the greatest job satisfaction.
“Our research shows that in the last 12 months, 29 per cent of procurement and supply chain workers received some form of pay rise, and almost a quarter (24 per cent) received a bonus. However, with 22 per cent having received no benefits, the fact that 20 per cent are planning to look for a new role over the next 12 months, is hardly surprising. Employers need to start taking action and think wider than just the salary package.”
The Reed Procurement & Supply Chain 2015 Salary & Market Insight report can be obtained at www.reedglobal.com/salaryguide