Higher pay at the top of finance workers’ wishlists, survey shows

Getting higher pay this year is a top-3 priority for 59 per cent of finance workers surveyed by recruiter Robert Half.

Employers that did not meet their workers’ expectations may see consequences in their ability to retain talent, the survey warned.

“Cash has always been king, but it is especially so since flexible work hours, remote working options and professional development have become more commonplace as pay alternatives in the modern workplace,” Nicole Gorton, director at Robert Half, said.

“At the end of the day, employees want to feel valued and appreciated for their contributions. Competitive pay and benefits are a tangible way for employers to demonstrate that they care about their employees' wellbeing.”

Flexible work hours and getting a promotion also ranked high on workers’ lists, each being top-3 priorities for 35 per cent of workers.

While 77 per cent of workers were confident they would get what they wanted from their job this year, 42 per cent said they would address their concerns with their manager if their priorities were not fulfilled. Twenty-eight per cent would actively search for a new job.

Furthermore, over a third (36 per cent) reported they would passively look for a new job, and 35 per cent would pursue training or certifications to improve their marketability and future prospects if their expectations were not met at their current job.

“Top talent know their worth and they're not afraid to ask for it,” Gorton said.

“They're looking for employers who offer not just a job, but a comprehensive package that supports their personal and professional goals.

“In a competitive job market, employers need to be aware that denying employee requests, such as pay rises and other high-priority requests could result in them accepting job offers from competing organisations that are willing to invest in their professional growth.”

When workers’ pay requests could not be fulfilled, the report recommended employers focus on delivering other benefits, including increased flexibility and professional development opportunities.

The report also stressed that intangible benefits were important for retaining talent, such as fostering a positive, supportive and enjoyable work environment for employees.

“Beyond salary, workers are looking for benefits that support their overall wellbeing, such as enhanced healthcare, mental health support and flexible work arrangements,” Gorton said.

“Employers will need [to] keep up with changing times and employee interests and respond appropriately to hold on to their workers.”