Recent research by Robert Walters suggests a shift in what employees deem most important to their job in 2024. The study surveyed over 2,000 white-collar professionals in Australia and found that flexibility and work-life balance have become the top priority for employees.
Out of those surveyed, 45% stated that work-life balance is the most important factor when considering a new job, while only 26% emphasised a competitive salary. 19% prioritise career growth opportunities, and 10% mentioned other factors.
The research also revealed that 63% of respondents consider flexible working arrangements as the primary non-monetary perk they seek in a new role. Additionally, 28% considered a four-day work week to be the most important perk, and 9% highlighted training and development opportunities.
The research comes following the end of the financial year as mid-year salary reviews are underway. The research questions whether employers should focus solely on salary or consider enhancing other benefits.
CEO of Robert Walters Australia and New Zealand, Shay Peters noted that “In the past, salary used to be the main driving factor when people considered new roles. However, the focus has now shifted to work-life balance, with candidates increasingly valuing other benefits aside from salary.”
The study also found that 59% of individuals prioritise finding an employer who values work-life balance when searching for potential employment. Additionally, 21% consider an attractive salary to be crucial, while 17% prioritise career growth opportunities. Only 3% focus on attractive benefits when evaluating potential employers.
It’s particularly interesting that despite the current economic challenges and cost of living crisis, individuals are prioritising work-life balance. The importance of office culture has also gained prominence in recent years. When asked which part of office culture employees find most important, 68% of respondents considered flexibility and work-life balance as the most appealing aspect. Meanwhile, 16% highlighted teamwork and collaboration, and 15% mentioned recognition and appreciation.