Employers can’t buy love - money is not the main motivator for professionals

Australia

The main motivation for professionals seeking new employment is not the lure of more money but career progression, according to a recent survey by specialist professional recruitment consultancy Robert Walters.

The 2011 Remuneration Expectations survey quizzed over 1,100 employees to gauge market sentiment surrounding salary and bonus expectations as well as employee motivation. The findings revealed that the main motivation for professionals seeking new employment was career progression (42%), followed by a pay rise, work/life balance, stability/job security, all equally important at 16%.

In addition, the overwhelming majority of respondents (63%) answered they were satisfied with their current remuneration package. This was despite the fact that 30% of candidates said they would look to move jobs post bonus pay out, with a further 33% being open to it, depending on the job market.

According to Robert Walters’ Managing Director – Australia, James Nicholson, these figures indicate that although remuneration and bonuses are important, employees are looking for the opportunity to progress their career.

“The findings are important for employers to note, especially when looking at how they attract and retain employees. The days of throwing more money at the problem have gone. Organisations need to focus on offering professionals career development, training and sufficient work/life balance in order to secure and retain top talent.”

In other findings, 71% of respondents are expecting a pay rise at their next pay review, with the majority of respondents expecting a rise of between 4-6%, while 61% are not expecting a bonus.

-ENDS-

For more information please contact Lillian Hafez on +61 2 8289 3237 or lillian.hafez@robertwalters.com.au.

To learn more about the current job market, please visit the Employment Trends section of our website located at http://www.robertwalters.com.au/employment-trends.html