Like the Kardashians or a Super Bowl quarterback, the superstars of workplace perks make headline news. Unlimited vacation policies, free food, games and napping rooms may be enviable, but not every employer either can or may even want to offer these types of enticements to lure great employees. The good news is that employees are okay with that. In the absence of over-the-top perks, what else do employees want? Spherion has been asking that question for nearly 20 years. The findings of its Emerging Workforce® Study tell us that what employees really want is fair compensation, career mobility, flexibility and integrity.

Money Tops Every Wish List

Employees expect to be fairly compensated. They also expect their financial health to continuously improve through periodic bumps in salary. Changing economic conditions and a strengthening job market have led more employees to believe they have leverage to demand higher salaries from their employers—or to seek these improvements elsewhere. Nearly half (49%) agree that “my ability to find a new job has increased significantly over the past 12 months, and more than one-fourth (26%) said they are at least somewhat likely to look for a new job in the next 12 months. 

Career Growth Opportunities Are Important Too

Growth and earnings potential is another top factor influencing employees. Approximately one-third of workers are concerned about falling behind in both the skills needed to do their job today and what they need to learn to get ahead tomorrow. Despite increased investment by employers in training and development programs to help their workers prepare for the next step in their careers, employees are not especially happy with the quality or results of those investments. 

Why is that? Many organizations don't take the time to first analyze what their training needs are. Others don't evaluate how well employees have learned. Some companies believe technology will solve all training problems. They think a mobile app or computer games are the solution to learning. A simulation by itself isn't enough. You also need very clear and precise learning objectives, clear feedback, a form of measurement or assessment and regular opportunities to practice and get feedback.

Time Is Golden

Of the top five factors with the greatest impact on a candidate’s decision to work for a company, two underscore the desire for greater work/life balance: the location/commute and the ability to work from home at least some of the time. At the same time, employees are largely dissatisfied with formal work/life balance programs. Only 35% are extremely/very satisfied with their ability to maintain work/life balance. When employees ranked the reasons to stay in a job, time and flexibility was #4 out of 8 options. Employers ranked it dead last, showing a clear disconnect about retention drivers.

Where Does Integrity Fit?

Mission, vision and values are key drivers in a candidate’s decision to work for a company. Almost all candidates want more fulfillment and meaning from their jobs, beyond just a means to earn a living. Not only is the company’s mission important to them, how effectively the company follows through on that mission is equally vital. They also want to have pride in their company and trust in senior leadership to do what’s best for the organization and employees. This is particularly true for younger generations.

Money Isn’t Everything, But…

Salaries have risen by an average 2.5% in the past year, but is that enough of an incentive (or reward) to retain good employees? Not necessarily. With unemployment sinking to its lowest rate in years and continuing skills shortages driving demand for those with the right knowledge and experience, employers face ongoing challenges in both attracting and retaining their most critical differentiator. While few candidates would be averse to catered lunches and more free days, employers can offer other incentives to attract and retain great employees. Start by recognizing―and accommodating―an employee’s need for flexibility to better manage personal and professional obligations. Ask employees how they want to learn and then make it happen. Working for a company that appeals to the heart and the head more than the stomach can be a powerful motivator for dedicated employees. It can also be a powerful differentiator in an increasingly competitive job market.

Local Spherion owner Michael Chalmers leads a team that has been serving the recruiting and staffing needs of Georgia employers for nearly 20 years. Founded in 1946, Spherion is staffing leader with more than 150 offices nationwide. Individually owned, each Spherion office offers clients and candidates the personalized service of a local business, along with the resources and expertise of a national workforce leader. To find out more about how Spherion connects people and jobs, call 478-956-1700 or visit spherion.com.