Survey Reveals Financial Gain is Not Deciding Factor
In a survey undertaken by Electronics Weekly magazine and John Prodger Recruitment [part of the Jonathan Lee Group], respondents indicated that financial gain was not the prime motivating factor when considering a career move and that other issues took priority in their decision making process.
Divisional Manager of John Prodger Recruitment, Kay Alexander, believes that whilst not unexpected, it does reiterate an important point for HR teams to consider when looking to retain good staff or when recruiting into their organisations.
Kay explains: “Whilst financial gain is clearly a factor, the survey revealed that people are generally motivated to move for altogether different reasons. Challenging work, recognition and freedom to make decisions all ranked as more important than salary. It’s essential that companies recognise candidates’ motivations. A higher salary alone may not be a persuasive enough argument.” Career progression is listed as the most popular reason for leaving an employer in the survey, so Kay suggests that providing staff with a clear career plan is a good place for HR teams to start.
“In sponsoring this survey, we wanted to sharpen our understanding of the current trends in salaries and to explore the complex range of benefits that candidates are being offered. In addition, we were keen to investigate the motivations that lead candidates to leave one employer and attract them to the next. As 63% of our survey planned to change jobs in the next two years, the trends may indicate where successful HR professionals and recruiters should focus their efforts.”
The survey also revealed that respondents’ use of online job sites had dropped by almost 10% since the survey was last undertaken two years ago, whilst 36% indicated the use of recruitment consultants to find a new job. When taken in conjunction with the fact that over 50% of respondents indicated a preference for a personal contact from a recruitment agency, Kay believes this is good news for reputable recruitment consultancies across the country.
EDITORS’ NOTE
Research took the form of an on-line self-completion questionnaire emailed to contacts on the Electronics Weekly database. 1,361 electronics professionals completed responses. The survey was available for completion from 12th March to 2nd April. The results were analysed by an independent research company
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