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Australia – Less than a third of employees are happy with their current benefits: Hays

08 June 2021

Less than a third, or 28%, of employees in Australia are satisfied with their current benefits, according to research from Hays Australia.

Hays found that regular flexible work practices, career progression opportunities and training are the top three non-financial benefits employees want when looking for a new job.

According to Hays, the value of salary increases this year will be less than skilled professionals believe their performance is worth, creating a salary expectation gap between employers and employees.

“With the value of salary increases set to be minimal, reviewing and rolling out additional benefits can help bridge the salary expectation gap, allowing employers to reward staff when they don’t have the salary budget to do so,” Nick Deligiannis, Managing Director of Hays in Australia & New Zealand, said.

“The challenges of the past year prompted many skilled professionals to pause and consider what they truly value in their life and career,” Deligianni said. “As a result, certain benefits have become increasingly important to staff attraction and can help an employer stand out from others to secure the top talent. With most employees dissatisfied with their current benefits, there is also an urgent need for organisations to review packages to retain top talent.”

Research from Hays showed that regular flexible working is the top benefit employees now want, nominated by 79% of respondents. This includes flexible working hours, location of work or working practices.

Meanwhile, 52% want career progression opportunities and 50% want internal or external training. Ongoing learning and development (44%) over 20 days of annual leave (30%) and mental health and wellness programs (20%) are also valued.

More than half, or 57% of office workers say they’ll look for a role offering hybrid working the next time they look for a new job.

Less than half, or 43%, of employees who are currently looking or planning to look for a new job in the next 12 months say a lack of promotional opportunities is the main reason behind their job search.

Employers have offered new benefits to employees over the past year in response to the Covid-19 pandemic. Providing hardware to support remote working, such as headsets, computer monitors and printers, was at the top of the list, offered by 58% of employers.

Meanwhile, 53% of employers provided staff with laptops, 32% provided a desk and chair for use at home, 22% gave additional days off work for wellbeing and 21% allocated budget for staff to buy their own home office supplies, while 18% paid or contributed towards the cost of WiFi.