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Offering staff a work-life balance the key to retention

Offering staff a work-life balance the key to retention

Research finds Kiwis consider more than money when choosing a job

26 May, 2015: Companies looking to entice new talent by placing another zero at the end of their salary offer may have to re-think their strategy. work-life balance is the main consideration for Kiwis when deciding whether to stick with their current job, according to New Zealand’s most significant employment survey.

More than 53% of New Zealanders surveyed for the annual Randstad Award employer branding research said that having a good work-life balance would be the most important factor to make them stay with their current employer, with flexible working arrangements rated second.

The importance of work-life balance when choosing a potential employer also appears to be increasingly influential for New Zealanders, with 50% saying it was in their top five most important criteria, compared to just 39% in 2014.

Country Manager of Randstad New Zealand, Brien Keegan, says he’s not surprised by the findings.

“We are increasingly finding employees are placing a higher importance on qualitative factors, such as work-life balance, working atmosphere and company culture when choosing an employer.

“Whilst traditional factors such as salary and employee benefits remain important, Kiwis are looking for a job that can provide them with a full spectrum of benefits. Put simply, this research shows as far as New Zealanders are concerned, there is more to a job than money.”

Keegan says the need for employers to provide employees with the kind of working environment they desire is even more important when they consider that 20% of the 7,975 working aged New Zealanders polled say they would change their employers in the next 12 months.

“This survey is a timely reminder to employers about the importance of providing staff with a range of benefits and incentives.

“A company’s most important asset is their staff and insights provided by the Randstad Award employer branding research enable employers to understand what their current and potential staff are seeking in a job. In New Zealand’s tight labour market the ability to attract, inspire and retain a team of talented and skilled individuals will give a company a competitive edge.”

The survey, which polled potential employees aged between 18 and 65 years, found that a lack of career growth opportunities was the most important factor Kiwis take in to consideration when deciding to change employers, followed by not feeling interested in their job and low compensation.

Five years since the first Randstad employer survey was undertaken, the most important criteria for New Zealanders when choosing an employer continues to be salary and employee benefits, according to 21% of respondents. This was followed by pleasant working atmosphere (10%), good work-life balance (10%), long-term job security (12%) and interesting job content (11%).

The search for New Zealand’s most attractive employer in 2015
The Randstad Award, reveals the most attractive commercial and government employers in New Zealand.

The Award is totally unique in this market as it’s based on public perception – 7,975 New Zealanders of working age. Organisations are unable to nominate themselves or determine categories or criteria for entry as it’s based on the largest 150 employers in New Zealand, by employee size.

First launched in Belgium in 2000, the Randstad Awards will be hosted in 23 countries around the world including, Australia, New Zealand, Canada, France, Spain and the Netherlands capturing the perceptions of 225,000 potential job seekers.

The top five most attractive factors for New Zealand job seekers in 2015 are:

RankMost important factor2015 (%)
1.Salary & employee benefits21
2.Long-term job security 12
3.Interesting job content 11
4.Pleasant working atmosphere10
5.Good work-life balance10


ENDS

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