Employers need to understand what workers value beyond pay
One in three workers in Canada (32%) loses interest in a job offer if the company refuses to include nonmonetary incentives in the offer, according to a new study from staffing firm Robert Half.
The research sheds light on the importance of employers offering perks – apart from a good paycheque – to attract top talent to their organization.
Almost all (99%) of the CFOs surveyed say they are open to negotiating with potential hires on their job offer. The following are some of the points companies are willing to discuss with candidates:
- Compensation (62%)
- Benefits (48%)
- Professional development and training reimbursement (44%)
- Remote work or scheduling arrangements (43%)
- Job title (37%)
Meanwhile, workers were asked whether they have rejected or lost interest in a position because the employer wasn’t willing to discuss nonmonetary incentives, such as job title, benefits, and professional development.
A third claim to have lost interest because of this, but nearly as many (35%) say they haven’t. The rest of the participants say they have never negotiated with the employer after receiving an offer.
David King, senior district president of Robert Half Finance and Accounting, explained why it may be beneficial for employers to know what nonmonetary perks candidates are interested in.
“To attract and retain the best, organizations need to understand what workers value beyond pay, and remain open and flexible when reviewing all aspects of their compensation package,” King said.
“A robust offer that includes the things that matter most to employees, such as work-life balance options, competitive benefits and career advancement opportunities, is key to keeping them engaged and motivated.”
On the other hand, King advised candidates not to shy away from negotiating with employers. Such discussions should be viewed as an opportunity to showcase the value of their talent.
Having a good idea of what they want and coming prepared with talking points will give candidates the confidence to make the meeting more positive and productive, King said.
Robert Half surveyed more than 500 employees aged 18 and older, as well as more than 300 chief financial officers at organizations with 20 or more workers.