700 Australians job seekers* and revealed that work-life balance continues to beat out salary/compensation in what attracts Australians to new job opportunity – but only just…in 2024, there is an increasingly complex balance of cost of living pressures, a new generation of jobseekers’ career ambitions, and a continued desire for flexibility that are all coming into play.
SEEK’s Laws of Attraction data portal breaks down what attracts job seekers most to a role based on gender, generation, industry, location, income and more to paint a timely picture of what is making workers tick in 2024.
KEY TAKE-OUTS
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The top 5 drivers of attraction for Australian workers when considering a new job opportunity are:
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Work-life balance (15.4% importance score)
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Salary & compensation (13.9%)
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Working environment (11.5%)
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Management & management quality (10.1%)
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Career/development opportunities (9.4%)
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It’s now more about when, not where: While 36% of office workers still consider working from a ‘must-have’ when considering work-life balance in job opportunities, workers across the board are increasingly favouring offerings that give greater flexibility in their time at work. In fact, time in lieu, additional leave, flexibility working hours and the ability to work part time all rank slightly higher as a ‘must-have’ for Australian workers over working from home.
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Reducing the pay gap: A commitment to gender pay equity ranks in the top 5 biggest ‘must-haves’ for Australian job seekers when it comes to salary/compensation, with almost half (44%) considering it a ‘must-have’. This is unlikely to go anywhere anytime soon as Gen Z continues to join the workforce, with 56% considering it a ‘must-have’.
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Ensure Insurance: Wider salary perks have climbed in importance over the past two years, including health/income insurance (23% of workers consider a ‘must-have’ in 2023/4 from 16% in 2021), as well as a clothing allowance (13.8% in 2023/4 from 8% in 2021) and company car/car allowance (11.7% in 2023/4 from 10% in 2021).
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More super? Super: Australian workers have grown increasingly mindful of superannuation and the financial support and security this can provide in the future. For instance, only 8% considered additional superannuation a ‘must-have’ pre-pandemic, while this has climbed to 21% in 2024.
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Ambitions on the rise: After taking more of a backseat amongst the disruption of the pandemic, career/ development opportunities are climbing back up the ranks in importance for NZ job seekers, and joins the top 5 drivers. This could be a testament to workers going after progression and pay rises, as well as the next generation joining the workforce in full strength.
SME INSIGHTS
- The top 4 drivers of attraction for these workers who would consider working for an SME are:
- Work-life balance (14.6% importance score – this is ranked slightly lower for those who are looking to work for a small organisation in comparison to the total respondents)
- Salary/compensation (13.1% importance score)
- Working environment (11.5% importance score)
- Career development opportunities (10.9% importance score – this is ranked higher for those who are looking to work for a small organisation in comparison to total respondents)
