Robert Half’s newly released 2018 Salary Guide shines a light on the rising number of Australians that would take a lower salary in order to establish a better work-life balance.
Of the survey of 1,000 Australian office workers, 84% of respondents are willing to accept a lower salary for more benefits.
The report identified the top three preferred benefits as - flexible working hours (47%), option to work from home (40%) and increased annual leave (37%).
Director of Robert Half Australia, Andrew Brushfield, says while salary is a prime motivator and the main incentive of a remuneration package, it is just one component.
“Flexibility is increasingly becoming one of the most in-demand workplace benefits and Australians are actively seeking out job opportunities that not only satisfy their monetary ambitions but also their lifestyle needs, such as flexible working hours, the ability to work from home or additional holidays.”
Brushfield adds, “In a market characterised by slow wage growth, Australian companies might not be in a position to award pay rises or higher starting salaries.”
“In such cases, employees should consider negotiating for benefits other than more pay, such as training and professional development opportunities or more leave.”
“Employers are fast realising these non-monetary benefits help to build a satisfied, motivated, productive and loyal workforce.”
“In a candidate-short employment market, Australian companies benefit from diversifying their incentives offerings beyond the purely financial aspect in order to attract and retain high-calibre professionals.”