28 Mar, 2013

Employees Demand Good Pay

As the job market has improved UK workers’ confidence has returned, according to new research from Randstad. The survey of 7,000 UK adults reveals that competitive pay and benefits is back as the most important requirement of a new employer, while job security, the top factor for the past three years, has fallen to third place.  This reversal mirrors the improvement in the UK jobs market reported in the most recent Government statistics.

  • Competitive salary replaces job security as top employment requirement
  • People working in Utilities and Insurance happiest with jobs and pay
  • Retail employees and accountants least happy
  • But successful retailers John Lewis and Marks & Spencer are voted the UK’s most attractive employers in 2013 Randstad Award

In 2012, 27{6060b2de664e4eaa3e7b7e86961ce2c4bbd7a29b6c1097abf8257a4e5b07383e} of people said long-term job security was the most important factor in choosing to work for a specific company – more than any other issue.  But this has now fallen to 16{6060b2de664e4eaa3e7b7e86961ce2c4bbd7a29b6c1097abf8257a4e5b07383e}, the lowest it has been in three years.  Meanwhile, 18{6060b2de664e4eaa3e7b7e86961ce2c4bbd7a29b6c1097abf8257a4e5b07383e} of respondents said a competitive salary and employee benefits was the most important factor in picking an employer, compared to only 11{6060b2de664e4eaa3e7b7e86961ce2c4bbd7a29b6c1097abf8257a4e5b07383e} in 2012 and 12{6060b2de664e4eaa3e7b7e86961ce2c4bbd7a29b6c1097abf8257a4e5b07383e} in 2011.

However further research reveals strong variation in happiness with current job and pay across industry sectors. People working in the utilities sector are the happiest employees in the UK with 96{6060b2de664e4eaa3e7b7e86961ce2c4bbd7a29b6c1097abf8257a4e5b07383e} happy with their jobs and 62{6060b2de664e4eaa3e7b7e86961ce2c4bbd7a29b6c1097abf8257a4e5b07383e} happy with their pay.  They are followed by those in insurance (87{6060b2de664e4eaa3e7b7e86961ce2c4bbd7a29b6c1097abf8257a4e5b07383e} happy overall, 90{6060b2de664e4eaa3e7b7e86961ce2c4bbd7a29b6c1097abf8257a4e5b07383e} happy with pay), law, property, aviation and financial services. (See table 1).

At the other end of the spectrum are accountants and those in retail. Just 42{6060b2de664e4eaa3e7b7e86961ce2c4bbd7a29b6c1097abf8257a4e5b07383e} of accountants are happy with their job and only 35{6060b2de664e4eaa3e7b7e86961ce2c4bbd7a29b6c1097abf8257a4e5b07383e} happy with current pay.  In retail only 51{6060b2de664e4eaa3e7b7e86961ce2c4bbd7a29b6c1097abf8257a4e5b07383e} of respondents describe themselves as happy overall and just 32{6060b2de664e4eaa3e7b7e86961ce2c4bbd7a29b6c1097abf8257a4e5b07383e} happy with their pay.   People working in the education, health care, construction, engineering and automotive industries are also less happy than the general working population.

SECTOR {6060b2de664e4eaa3e7b7e86961ce2c4bbd7a29b6c1097abf8257a4e5b07383e} of Happy Employees {6060b2de664e4eaa3e7b7e86961ce2c4bbd7a29b6c1097abf8257a4e5b07383e} Happy with Pay
Utilities 96 62
Insurance 87 90
Law 79 55
Property 70 78
Aviation & Aerospace 69 61
Financial Services 67 51
Social Care 65 37
IT & Tech see below average 47
Rail see below average 50
IT & Tech 60 See above average
Education 59 35
Engineering 58 36
Health Care 57 35
Rail 57 See above average
Automotive 56 33
Construction 53 45
Retail 51 32
Accountancy 42 35

But while those working in retail are amongst the least happy overall, the general public perceives leading retailers who are also known to reward their staff well, as the best UK employers to work for. In the 2013 Randstad Award co-operative retailer The John Lewis Partnership triumphed as the UK’s most attractive company to work for.  53{6060b2de664e4eaa3e7b7e86961ce2c4bbd7a29b6c1097abf8257a4e5b07383e} of people who knew the company said they would like to work for John Lewis, which received the top award for the second year in a row.  Retailer Marks & Spencer took second place while a big three supermarket was also named as one of the twenty most attractive employers in the UK.

In addition to being recognised as the UK’s second most attractive employer, Marks & Spencer – which came third in last year’s survey – was also perceived as being the employer most concerned with the environment and society.

Automotive giant BMW came third, up from sixth last year.

The public’s perception was more in line with employees’ happiness at the other end of the spectrum.  Aerospace and defence featured disproportionately in the list of most attractive employers, with three of the top twenty entries from the sector.

Credit: onrec.com

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