In addition to the basic salary, respect for privacy and a good, supportive environment are important
when choosing a job – this is revealed by PwC’s eighth Labor Market Preference Survey, in which more than 90,000 experienced workers, university students and students in public education or vocational training participated this year.
This year it is Most Attractive Workplace of the Year Award a Mercedes-Benz received, it is in second place Audi Hungary, and in the third place it is OTP Bank finished
More and more people want to switch
The pressure caused by continuous economic and social changes encourages employees to look for opportunities elsewhere. According to the results of PwC’s 2024 Global Hopes & Fears research, more than a quarter of those surveyed plan to change jobs in the next 12 months, which is a much higher rate than the wave of resignations in 2022 (19 percent). Therefore, it is extremely important to know the factors that can be used to ease the pressure on them and thus to retain them more effectively. The main motivator is still money, but in addition to financial benefits, this year other factors also play a prominent role.
Good salary and good company
In recent years, employee preferences have undergone a significant transformation as people have sought to adapt to an ever-changing and unpredictable economic and social environment. Two years ago, due to the energy crisis, the stability of the workplace, while last year due to the outstanding inflation, money and financial benefits dominated, almost relegating all other aspects to the background, he said. Márta Reguly, head of the HR consulting team at PwC Hungary.
This year, it is clearly visible how much the social environment and workplace frameworks, as well as flexibility, have increased in value in the eyes of the employees, he added.
The strengthening of human factors started last year, but this year it became even more pronounced. The importance of a supportive, cooperative team (3rd place) and the role of a prepared, supportive leader (4th place) indicate that employees increasingly value a positive workplace atmosphere, where the community and management support them both professionally and personally .
Respect for privacy was also prominent among the preferences (2nd place). It is crucial for workers that their employer respects their personal boundaries and allows them to create and maintain a healthy work-life balance. The need for flexibility has also increased: the amount of work that can be done within working hours is in 5th place (7th in 2023), and working from home is in 12th place (21st in 2023) on the list of preferences.
University students want development and predictability
The values brought by the younger generation are extremely important for organizations. Their digital skills, fresh world view and innovative problem solving are indispensable for the growth and survival of companies. Career building (Career opportunities: 6th place) and continuing education opportunities (12th place) are particularly important for university students compared to older generations. They are looking for a workplace where they are not only given challenging tasks, but also support for their professional development, even in the form of a coach or mentor. Instead of flexibility, more emphasis is placed on predictability (Predictable schedule: 7th place, Amount of work that can be done within working hours: 8th place), which they expect adequate compensation for overtime to protect (Overtime payment: 2nd place).
Diversity and transparency as a competitive advantage
Although they are not in the top 10 among employee preferences, the biggest positive shift compared to 2023 is the employer’s vision and strategy (14th place; 11 places improved compared to last year), diversity and equality (22nd place; an improvement of 10 places) , as well as the transparency of decision-making (18th place; an improvement of 9 places). The demand for diversity is even stronger in the case of the younger age group: it ranks 17th among university students (an improvement of 15 places), while among high school students it ranks 12th (an improvement of 6 places), which indicates that these factors are increasingly important for the new generations of the labor market they can
Transparency, diversity efforts and conscious future planning are not only ethical or social responsibility issues, but also represent a concrete competitive advantage for companies. Companies that are at the forefront and focus on these areas are more attractive to talented employees and are more likely to retain them in the long term. Transparent decision-making strengthens employee trust and commitment, while a diverse and inclusive workplace culture promotes innovation and creative problem-solving. An organizational culture that provides stability, respects the values of employees and creates an inclusive environment can also contribute to market success, the expert said.
PwC 2024 Most Attractive Workplace Award industry category winners
Image: PwC
The focus of future-proof employers
Employers can strengthen their employer brand and increase retention by taking the following three steps:
- Respecting privacy and supporting work-life balance: A
it is crucial for employees that their employer respects their personal boundaries,
provide flexible working hours and the amount of work that can be done within working hours. - Creating a supportive workplace environment: A cooperative team and the prepared, supportive one
the presence of managers strengthens employees’ attachment to the company. Development of leaders and teams
building and strengthening the corporate culture can also contribute to this. - Emphasis on values beyond financial benefits: In addition to the competitive base salary, a
employers should also focus on factors such as career development opportunities, a
diverse and inclusive workplace culture and transparent communication.
Source: www.economx.hu
