In 2024, one the challenges we came across was companies setting expectations that just didn’t match up with the salary they were offering. A lot of businesses were expecting candidates to take on critical roles, but the salary they offered just wasn’t the right salary for the job.
This wasn’t a small problem, it had real consequences. In fact, in our searches last year, 22% of candidates who had the right experience, skills, and values didn’t move forward because the salary wasn’t competitive enough.
What Does That Mean?
It meant those candidates were either already making more, were offered the same, or just didn’t see a big enough increase to make a change.
22% might not sound like a lot, but that’s still a pretty significant group of people who could have been a perfect fit and helped push the business forward. And while money isn’t the number one reason people look for new opportunities, most people expect at least a 10% increase when they move into a new role, especially those who are not actively looking.
Why the Right Salary Still Matters
While it’s true that money isn’t always the top reason someone looks for a new job, salary does play a big part. Most people expect a 10% to 20% increase in salary when they make a change. It’s a reflection of their experience, skills, and the value they bring, and it’s important that the salary reflects that.
It’s Not Just a Job; It’s a Career
People aren’t just looking for another job, they’re looking for a career. They want to grow with the company, make an impact, and be part of something bigger.
As an employer, it’s important to show candidates that your company is a place for long-term growth, not just a stepping stone. But for that to happen, you need to recognise their value and offer the right salary. When employees feel valued and are paid what they’re worth, they’re more likely to stick around and put in the effort to help the business succeed.
Investing in Employees: A Win-Win
When you invest in your employees, by offering the right salary and giving them opportunities for growth, it benefits everyone. Employees who feel recognised and well-compensated are more motivated, loyal, and dedicated. They’ll be the ones helping your business grow and succeed year after year.
So, if you want to keep people around for the long haul and build a strong future, make sure you’re investing in them in a way that makes sense. Pay them the right salary, show them you care, and they’ll give that back to you in a big way.
If you want people to invest in your company for the long haul, you need to invest in them too.
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The success of any company is dependent on the happiness and engagement of its employees. An enjoyable employee experience is not something that happens by chance; it can be developed and maintained by conscious efforts.
Here are six essential methods for ensuring a positive employee experience at your workplace:
Cultivate a Positive Workplace Culture:
The foundation of a successful employee experience is a strong and positive workplace culture. It establishes the tone for how employees communicate, collaborate, and engage in their job. Establishing and communicating core values, as well as leading by example, will assist in creating a culture of respect, collaboration, and mutual support.
Invest in Onboarding and Training:
The first stage in the employment journey is onboarding. A comprehensive onboarding process makes new employees feel welcomed, informed, and prepared for their roles. After the onboarding process, provide ongoing training and development opportunities to assist individuals improve and succeed in their professions.
Empower and Recognise Employees:
Give employees autonomy and decision-making opportunities within their roles to empower them. Encourage creativity and innovation. Additionally, recognise and reward employees for their contributions on a regular basis. This not only raises morale but also encourages positive behaviours.
Clear Communication and Feedback:
Effective communication is essential. Create open and transparent channels for employees to share their thoughts, concerns, and ideas. Provide regular feedback and performance evaluations to guide their professional development.
Work-Life Balance and Well-being:
Prioritise the well-being of your employees. Encourage a healthy work-life balance and support mental and physical health initiatives. Flexible work arrangements and wellness programs can go a long way in ensuring employee well-being.
Career Growth and Opportunities:
Show a clear path for career advancement within the organization. Offer opportunities for skill development and progression. Employees are more likely to stay engaged and motivated when they see a future with your company.
By focusing on these aspects, you can guarantee a successful employee experience in your organisation. A satisfied and engaged workforce is not only more productive but also more likely to stay loyal to your company, contribute to its growth, and enhance its overall success.
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