As employers face headaches with a global talent shortage, a new survey from Ceridian reveals most employees in North America value salary, work-life balance, and job location as major factors when pursuing a new opportunity and considering a job offer.
Ceridian, a global human capital management technology company, today released a new report called The Optimal Recruiting Experience to better understand the motivations that influence an individual’s career choices. The survey, performed on behalf of Ceridian by Hanover Research, targeted more than 1,500 recent hires and employed individuals who have turned down a job within the last year.
Motivations for changing jobs
The survey found job candidates cite salary as the single most common reason (40 percent) for pursuing a new opportunity, and the feeling is shared across all generations, from young workers to older workers.
While salary remains pivotal, a complete compensation package that supports a good quality of life is increasingly important to candidates, especially if they see more value in the long term. Notably, when respondents were asked to select the factors important when considering a job offer, 68 percent were influenced by job location. This was closely followed by 66 percent pushing for work-life balance and salary, and 57 percent attracted to the company offering growth opportunities. (Respondents could select multiple answers.)
“The truth is, every individual is at a different stage of their life and career. For some, work-life takes precedent, and for others, home life is the priority,” said Lisa Sterling, Chief People and Culture Officer, Ceridian. “Our data shows organizations that want to attract world-class talent have an opportunity to better understand today’s worker preferences and tailor the recruiting and workplace experience to meet a wider range of employee needs.”
Communicating brand value
Just as people consult with friends and family for big, life-changing decisions, for all age groups, word of mouth by far trumps any online resource when candidates evaluate companies. The data also reveals that while 38 percent of job candidates turn to friends, family, and colleagues to research potential new jobs, 68 percent consider the same sources very important when determining a good fit with a prospective employer.
The survey showed candidates also search online for information about their prospective employer. Not surprisingly, salary (69 percent), job location (45 percent), and information on benefits (36 percent) rank high, correlating with the top reasons candidates seek new employment or accept offers. Millennial workers aged 18-34 are particularly keen (36 percent) – more than any other group – on researching details around growth opportunities with an employer.
“In a job seeker’s market, candidates have room to be more selective,” said Sterling. “A strong employer brand shapes the perceptions people have of your organization and what it’s like to work there. To foster employee advocacy, businesses need to better communicate the ‘what’s in it for me,’ to candidates – things like inclusiveness, professional development, wellness, and workplace flexibility.”
Refining the recruitment experience
According to those interviewed, the actual length of time required for the recruiting process was “just about right” when compared to employee expectations. The majority of individuals (55 percent) expected a two-week recruitment process. Employers, for the most part, are delivering on that expectation, with 52 percent of those surveyed reporting that their actual recruiting experience was two weeks or less.
“While digital tools may have transformed the job market forever, organizations should strive to create a ‘human’ environment for candidates – from the first email or call, all the way through to selection or rejection,” said Sterling. “The golden formula is to treat people how they want to be treated, sustaining a candidate’s excitement and providing a positive experience with the company throughout the recruiting process.”
To download The Optimal Recruiting Experience report, visit Ceridian.com/Resources.
About the research
Ceridian partnered with Hanover Research to conduct a quantitative online survey of 1,678 U.S. and Canadian workers (1,383 in the U.S. and 295 in Canada) between May and June 2018. Respondents represented a mix of full-time and part-time employees aged 18 years and older who had been offered a new job in the last year.