Australian Employee Insights
report yesterday, which showed that although male workers are more inclined to ask for a pay rise, women are more likely to receive one if they ask.
The research had over 1500 participants, all of whom were Australian workers, and covered a range of topical issues with a focus on remuneration, engagement and retention
The report also revealed that just 12% of Australians are expecting to receive a bonus this year, with the average bonus expectation being $5005.
However, there was a large discrepancy in expectations between states; people in New South Wales expected to receive a bonus of $6286, while those in South Australia expected a comparably small $2891.
According to Sunsuper’s customer experience and insights executive GM Teifi Whateley, the disparities did not end with interstate differences.
“Women said that if they do get a bonus this year the average they’d expect is $4286, whereas men said they’d expect an average of $5460,” she said.
Whateley added that there were also intergenerational differences when it came to bonus expectations.
“Interestingly though when you look at the results by age and gender, female Baby Boomers and Gen Ys expected higher bonuses than their male counterparts,” she explained. “Gen Y women expected an average of $3781, compared to $3462 for Gen Y men, and female Baby Boomers expected an average of $6008 compared to $5867 for male Baby Boomers.”
Whateley expressed some concern about the report’s findings in regards to women’s plans for their bonuses.
“If they do get a bonus, most women said they’d put it into savings,” she said. “Only 3% said they’d put it into super which, given everything we know about women earning less, having less super, retiring with less and living longer, is concerning.”
“The earlier women start thinking about their super the better,” she added. “Even small things like checking how their superannuation is tracking, ensuring they have their super in the most appropriate investment option and combining their super accounts are three really simple things that don’t cost a thing, but could make a big difference to a woman’s super balance in retirement.”
Researchers also found that 41% of workers have asked for a pay rise in the past, while 39% have previously received a cash incentive to stay with or join a company.
But in the end, it seems money is not enough to keep employees happy: the report revealed that one in five Australians left their last job because of a workplace relationship problem.
One of Australia’s biggest superannuation funds, Sunsuper, released its