Does Money Still Talk?

The Future of Skilled Worker Availability in Alberta
January 6, 2016
Manpower Acts of Kindness Campaign
April 5, 2016
Show all

It’s not just about making money – what matters to job seekers across the globe.

With the global economic picture looking uncertain once again, for the second time in a decade, is our personal relationship with money really changing? When it comes to our employment selection and how we are compensated it would seem so and, as with many trends, GenYers are leading the charge.

New research from ManpowerGroup Solutions found that nearly six out of ten candidates believe that what they do is as important as how much they get paid. With increased value placed on work-life balance and more employees being “logged-in” or accessible 24-7, today, it’s important for a job to seamlessly integrate into one’s daily life.

Does Money Still Talk

Yet, when it comes to switching jobs, our research shows that an increase in pay is twice as powerful as type of work.

More than half of candidates who identified “opportunity for advancement” as a top three motivator when making career decisions were GenYers. More than half of GenYers identify themselves as continuous candidates, or “always looking for the next job opportunity,” but even they don’t call out pay as the highest motivator…or are they simply achieving the same outcome by switching?

Today’s current thinking around employment is that staying with the same company for 2+ years will result, on average, in your lifetime earnings plummeting by about 50%. While the parents of GenYers believed staying loyal to an employer would lead to reward, the paradigm seems to have shifted.

One thing looks certain: with a reported third of workers looking to change jobs at any time and GenYers rapidly becoming the most influential population in the market, employers need to prepare to pay for the right talent, as three quarters of job switchers earn more in their new jobs. Maybe money does still talk, after allå-nett.

Victoria Bombas

RPO Director
ManpowerGroup Solutions, Europe

Randy Upright
Randy Upright
Randy is Manpower Alberta's CEO who inspires his team to success. He is committed to assisting our clients, candidates, and employees to win in the changing world of work. Please contact him @randyupright or if you would like to discuss anything with him.

Comments are closed.