June 11, 2013 Leave a comment
A recent study conducted by Australian company Randstad shows that many working and job seeking candidates this year are looking for higher remuneration and perks in their jobs, as opposed to favouring employment benefits and long term job security.
Despite similar research conducted last year – where employer financial health and job security were both considered highly important – 1 in 5 Australians are now looking for more competitive salaries and rewarding and relevant benefits when seeking employment.
“Working through challenging economic conditions, people have had to deal with smaller budgets, less resources, increased workloads, higher performance expectations and limited or no employee benefits,” said Deb Loveridge, the Managing Director of Randstad, Asia Pacific.
“Aussies are starting to evaluate what’s important to them within a work context, and then placing these issues at the top of their list of requirements when looking for a job. This is good news for businesses, and highlights while salary is important, employees will be open to other benefits if a pay rise is still not a possibility in the short term.”
In addition to this, a healthy work-life balance is also at the top of Australian employees’ priority lists, with a reported 11% of Aussies possessing the desire to create more equality between their personal and professional lives.
Are You Job Seeking?
While this evidence reveals some important lessons and thinking points for recruiting organisations, these trends also have significance for current job seekers: Executives looking for employment in their respective industries may want to rethink their priorities or perhaps consider negotiating higher pay or better benefits.
With businesses facing tough financial times over the past few years, employee attraction and retention has become an increasingly significant issue and job seekers may be able to leverage this to secure better rewards for themselves, whether in terms of salary, benefits or more balanced work hours.
Negotiating More Pay
For those who have found the ideal job, negotiating salary is an important step and candidates should keep the above trends in mind. Further tips for a successful salary negotiation can include:
- Making sure your resume is up to date, clear and convincing – this is the one document that will essentially get you more money or more benefits, so make sure it is impressive!
- If you have not secured a new job just yet (or if you are in the interview process), ensure that you do NOT reveal any details about your past or present salaries to the employer
- Be realistic. Don’t ask for outrageous amounts of money without the competencies to back up your request. Make sure your negotiations are based on your actual skills, talents and value, not on what you “think” you deserve
- If you are unsure of how to negotiate or if you are applying for an executive or senior role, hiring a salary negotiator on your behalf can be extremely beneficial, as they will know how to obtain your desired level of pay using smart and professional negotiation techniques
Wondering how much you’re really worth? Resumes Australia offers salary negotiation, resume writing and career coaching services to executive candidates throughout Australia. Reward yourself and get in touch!