Here’s what I know: professionals want more than a good salary

  • Recruitment
Peter Done

Peter Done, Group Managing Director and Founder

(Last updated )

It’s everywhere in the news. Headlines screaming out ‘cost of living reaches all-time high in 30 years’. The situation is bad, and it’s only getting worse. So, it’s no surprise to see staff looking for pay rises and bosses looking for pay cuts…

Still, it’s crisis after crisis as the Great Resignation trend totters on. Competition for talent is high – as are expectations. Post-pandemic, job hunting is on the rise. Now, lots of workers are re-evaluating their career choices as they try to find the right fit for them.

Yes, they might strive for higher salaries to compete with higher costs of living – but that’s not all they’re looking for, and it’s not the only thing that keeps them in a job.

Flexible working has become not just a desirable – but a must-have for some. Staff want to cut back on commuting costs and research has found that 31% of workers reject jobs that don’t offer flexible hours.

In the same vein, companies are considering pay cuts for remote workers. Which isn’t a wise move if your goal is to retain staff. You might not be in a position to offer staff a pay rise but there might be other ways you can support them financially. What about offering free lunches? Childcare options? A commuting loan?

In times of uncertainty, professionals are looking for support. It’s not just about money. Workers want to know their well-being matters to you.

Mental health is always a concern and after a tumultuous couple of years, you need to have support in place for staff. If you have an Employee Assistance Programme (EAP), this is a great way for staff to access advice on money-saving tactics and a safe space for them to talk about their anxieties.

Financial stress can easily lead to mental health issues, so making counselling accessible to staff is likely to make them feel more at ease and more valued.

This is the time for you to adapt your approach to attract - and retain - the best talent. Get in the mind of your ideal candidate. If you were looking for a job in the current climate, how would you be feeling? What matters most to you? Maybe it’s work/life balance. Maybe it’s flexibility. Maybe it’s a positive work environment. Generally, people are looking for a combination of things.

And it’s up to you to show why you’re the company for them.

You don’t have to figure it out on your own. With Peninsula, you have access to unlimited 24-hour advice from HR experts who’ll give you practical tips on how to support and retain your staff.

You can also get your contracts and policies crafted and updated for you. Your advisers are there to rid you of the burden and keep you safe and successful,- no matter your situation.

To get instant professional HR advice today, give us a call on 0800 029 4392.

Related articles

  • Recruitment Guide

    Blog

    Britain's biggest businesses are being urged to recruit prison leavers

    Government has launched a national campaign to encourage Britain’s biggest businesses to recruit prison leavers in order to reduce re-offending and expand the economy

    Peninsula TeamPeninsula Team
    • Recruitment
  • sick leave

    Blog

    Prime Minister sets out reform measures to tackle 'sick note culture'

    Almost 11 million fit notes were issued last year, with an overwhelming 94% of those signed “not fit for work”. And that, Prime Minister Rishi Sunak has said, is a problem that must be tackled with more help for people to get the appropriate support they may need to remain in work.

    Peninsula Team Peninsula Team
    • Leave and Absence
  • Sickness leave

    Blog

    Reform to SSP and fit notes proposed

    Given the high rates of sickness absence in the UK, there have been recent calls for reform of both the Statutory Sick Pay (SSP) system and the fit note process.

    Peninsula TeamPeninsula Team
    • Leave and Absence
Back to resource hub

Try Brainbox for free today

When AI meets 40 years of Peninsula expertise... you get instant, expert answers to your HR and Health & Safety questions

Sign up to our newsletter

Get the latest news & tips that matter most to your business in our monthly newsletter.