5 factors more important to Aussie employees than a pay rise

In our recent research, Australian employees voiced their priorities loud and clear. It turns out that, for many, a substantial pay increase isn't their only concern. 

Instead, they value intangible benefits that contribute to their overall wellbeing and job satisfaction. Here are five factors that Aussie workers find more important than a 10% pay rise.

1. A manager who cares about wellbeing (62%)

A supportive and empathetic manager can make a world of difference in an employee's experience at work. This statistic highlights the growing recognition of the importance of mental and emotional wellbeing in the workplace. Managers who genuinely care about their team's welfare create a positive, nurturing environment where employees feel valued and supported.

2. Flexibility in work location (59%)

We all know that COVID-19 has forever altered the landscape of work. The demand for flexible work arrangements has surged as employees seek a better work-life balance. Whether it's the option to work remotely from home, a hybrid model or the ability to choose one's work location, flexibility is a crucial factor in job satisfaction.

3. Control over their schedule (58%)

Having control over one's own schedule empowers employees to manage their time more effectively. This level of autonomy not only fosters a sense of trust between employer and employee but also allows workers to align their work with their natural rhythms and responsibilities outside of the office.

4. A great relationship with their manager (57%)

A strong, positive relationship with a manager is foundational for a healthy work environment. Effective communication, mutual respect and clear expectations contribute to a sense of trust and camaraderie. When managers invest in their employees' growth and development, it fosters a culture of continuous learning and improvement.

5. A feeling of belonging at work (56%)

A sense of belonging is essential to job satisfaction and overall wellbeing. When employees feel like they're part of a community that values their contributions, it enhances their motivation and engagement. This can be fostered through proactive recognition, team-building activities, diversity and inclusion initiatives and creating spaces for open dialogue and collaboration.

HR’s response to employee needs

In light of these insights, HR leaders are reevaluating their strategies to meet the evolving needs of their workforce. According to the survey, an impressive 68% of HR leaders are planning to increase investments in hiring, onboarding, communication, recognition and rewards, benefits and learning and development.

While a pay rise is undoubtedly appreciated, it's clear that Australian workers value a holistic approach to their work experience. 

From supportive managers to flexible work arrangements and a strong sense of belonging, these factors play a pivotal role in job satisfaction and overall wellbeing. As we step into 2024, it's encouraging to see HR leaders recognising and investing in these critical aspects of the modern workplace. What investments is your HR team planning to make in the coming year?

Check out our infographic below for a handy summary of these findings or scroll to the bottom for the full research report.

Want to discover more employee engagement tips? Download The Australian Talent & Engagement Report now for exclusive data and insights.