Work Life Balance Overtakes Money as Employees' Top Priority

WORK LIFE BALANCE TRUMPS MONEY AS EMPLOYEES’ TOP PRIORITY FOR THE FIRST TIME

New Zealand – 21 January 2015 – Work life balance has surpassed salary as the primary motivator for New Zealand professionals for the first time, according to The Hiring Report: The State of Hiring in New Zealand 2015[1].

More than two-thirds (69%) of professionals were motivated by ‘work life balance, including flexible arrangements’ when looking for a new role,with both men (48%) and women (52%) near equally valuing work life balance as their top priority.

This was followed by higher salary (68%) and cultural fit (63%), career progression and/or training opportunities (56%), better benefits (48%) and better alignment with a company’s values (38%). Only 10% were motivated by a better job title.

The results may, in part, be driven by the stagnation of salary levels in recent years. While it remains to be seen if this represents a permanent cultural shift, it clearly shows that employees want more than just a pay cheque and that the importance of understanding what motivates people has never been more critical to ensuring organisational success.

Roman Rogers, Executive General Manager, Hudson New Zealand said: “Most of us want to do a decent day’s work, make our mark and achieve in our jobs – but more and more we want to do so with balance in our life and with like-minded peers in an environment where we feel valued.”

“A common purpose, shared beliefs and united vision can make the difference between a disengaged employee who works to live, and a passionate one who loves to work. We especially see this come through at higher levels of organisations, where cultural fit was rated the number one priority by 69% of senior executives,” said Mr Rogers.

Sourcing and attracting talent a complex game

Sourcing and attracting top talent continues to be challenging, and the rise and evolution of the digital landscape has created an increasingly complex job market.

“Effective hiring is two-way. It starts with what the employer wants – mapping the skills and experience, roles and responsibilities, aptitude and traits they need. From there, the focus needs to shift to understanding what the ideal candidate wants, to develop a compelling employee value proposition,” said Rogers.

And, this is particularly important as digital media gives unprecedented access to candidates.

“What we’ve found is that three-quarters (77%) of the workforce, whether actively looking for a new role or not, is open to being approached by recruiters. It’s human nature to be curious about new opportunities, yet what begins as curiosity could lead to a more serious issue for employers: retention.”

“Again this highlights the importance of understanding what makes employees tick in order to retain them. We’re seeing the realisation of this reflected in more rigorous hiring practices and the rise of psychometric testing in driving the creation of a more cohesive, engaged and ultimately more productive team environment.”

Other key highlights of the report include:

90% of hiring managers acknowledge they need to look beyond active job seekers to find the right candidate

Almost 1 in 2 hiring managers look to social media when evaluating a candidate. This should not bother most: 80% of professionals are comfortable with their online footprint

Psychometric testing is on the rise as the risks of a mis-hire become more serious. 55% of senior executives value it as part of the recruitment process

The nature of writing job ads has changed forever. 75% of hiring managers are now using keywords to ensure their ads have the best possible chance of being found

“Organisations cannot afford to take a vanilla approach to hiring. Instead they must tailor their tactics to navigate the plethora of channels available, finding the right ‘mix’ of strategy, digital, contacts, and networks nurtured over many years – it’s part science, part networks, part art. With the new year upon us, now more than ever organisations must think smarter in order to define, find and secure the great talent they will need to help them succeed in 2015,” Rogers said.

In addition to job-seekers’ demands, the Report also examines the impact of the digital age on hiring practices, who is headhunted, how to connect with talent and developments in candidate screening, and can be requested from nz.hudson.com.

1 Hudson canvassed the views of 763 professionals and hiring managers across New Zealand during October-November 2014

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Methodology

For this report we canvassed the views of 763 professionals and hiring managers across New Zealand. We asked them their views on all aspects of hiring, from what they think of cover letters and how confident they are with their own social media presence to whether they use psychometric testing in their recruitment practices. From these results we collated this report, a combination of the survey findings and our own knowledge, learnings and insights into best practice hiring in 2015.

About Hudson

Hudson is a global talent solutions company with expertise in leadership and specialised recruitment, recruitment process outsourcing, talent management and contracting solutions. We help our clients and candidates succeed by leveraging our expertise, deep industry and market knowledge, and proprietary assessment tools and techniques. Through relationships with millions of specialised professionals in 22 countries, we bring an unparalleled ability to match talent with opportunities by assessing, recruiting, developing and engaging the best and brightest people for our clients. We combine broad geographic presence, world-class talent solutions and a tailored, consultative approach to help businesses and professionals achieve higher performance and outstanding results. More information is available at Hudson.com.

Forward-Looking Statements

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