While salary is a key motivator, employees are increasingly valuing non-financial benefits that:
- cut their cost-of-living expenses,
- enhance their overall work experience, and
- enhance their well-being.
In addition to our own surveys, recent research has been done by the likes of Seek, PwC, Gallup, Deloitte, SHRM, Mercer, Willis Tower Watson, and Boston Consulting Group on the topic.
1. Paid Time Off and Leave Options
- According to Seek’s latest research, one of the most sought-after non-financial benefits among Australian employees is extra annual leave. In fact, 30% of employees indicated that additional time off would encourage them to stay with an organization if salary increases were not an option. Beyond standard vacation time, 10% of employees would appreciate an extra day off for their birthday, and 25% expressed interest in having a monthly rostered day off (RDO). These findings underscore the growing importance of time away from work for employees to recharge and maintain a healthy work-life balance.
- PwC, Gallup, and Deloitte all emphasize the importance of paid time off for preventing burnout and maintaining employee well-being.
- Glassdoor reviews frequently mention the importance of generous vacation policies, especially in high-stress industries.
- SHRM, Mercer, and Willis Towers Watson all report that extended vacation days, parental leave, and even sabbaticals are becoming increasingly common as employers recognize the need for work-life balance.
2. Flexible Working Arrangements
- Seek’s research also identified flexible working arrangements as one of the most appealing non-financial benefits, with 28% of employees highlighting its importance. The desire for flexibility extends to reduced working hours, which appeals to 27% of workers. This mirrors findings from other organizations:
- PwC highlights that flexible work arrangements are critical for employee satisfaction, particularly in the modern, post-pandemic workplace.
- Gallup emphasizes the importance of flexibility in boosting employee engagement and reducing burnout.
- Deloitte views flexible work models as a necessity rather than a perk, with hybrid work setups becoming the new normal.
- Glassdoor, SHRM, and Mercer all report that flexible work schedules, including remote work and compressed workweeks, are highly valued by employees, particularly those seeking better work-life balance.
3. Company Car (Seek)
Surprisingly, 17% of Australians surveyed by Seek indicated that having access to a company car would be a valuable non-financial benefit. For roles that involve frequent travel or long commutes, a company vehicle can significantly improve an employee's work experience. This benefit is more specific to industries where mobility is a necessity, but it nonetheless reflects the practical side of employee expectations.
4. Health and Wellness Programs
Across multiple surveys, health and wellness benefits consistently rank as one of the top non-financial perks that employees desire. With an increasing focus on both mental and physical health, organizations are expected to provide comprehensive wellness resources.
- PwC and Deloitte both emphasize the growing demand for mental health support and well-being programs that address emotional and physical health.
- Gallup points out that employees who feel supported in their well-being are more engaged and productive at work.
- Glassdoor reviews reveal that wellness perks like gym memberships, mental health support, and fitness programs are highly appreciated by employees.
- SHRM and Mercer also report that wellness programs, including on-site fitness facilities, wellness challenges, and mental health support, are essential for attracting and retaining talent in today’s workplace.
5. Professional Development and Career Growth
Opportunities for career development and continuous learning are critical for many employees. The chance to grow within the company is often more motivating than financial rewards alone.
- PwC, Gallup, Deloitte, and Mercer all highlight that employees want opportunities for career advancement, professional development, and mentorship.
- Glassdoor reviews frequently mention the importance of training programs, certifications, and leadership development as key factors influencing employee satisfaction.
- SHRM notes that tuition reimbursement, leadership training, and career advancement opportunities are becoming increasingly popular as employees seek to build long-term careers with their employers.
- Willis Towers Watson and BCG also emphasize that employees prioritize upskilling, continuous learning, and clear career progression paths.
6. Recognition and Purpose
Feeling valued and recognized for their contributions is a top priority for many employees. Recognition programs and purpose-driven work environments are highly sought after.
- PwC and Gallup highlight that recognition and praise are essential for boosting employee morale and engagement. Employees who feel appreciated are more likely to stay with their employer long-term.
- Deloitte emphasizes that purpose-driven work is increasingly important, with employees seeking roles that align with their values and allow them to make a meaningful impact.
- Glassdoor reviews indicate that employees value both formal recognition programs (awards, bonuses) and informal recognition (praise from managers and peers).
- SHRM and Mercer report that employee recognition programs, including public recognition, team celebrations, and awards, are important for creating a positive work culture.
- BCG also highlights that employees are drawn to purpose-driven organizations where they feel their work contributes to a larger mission.
Conclusion:
Employees today are not just looking for a pay check—they want to work in environments that support their overall well-being, offer opportunities for development, and provide the flexibility they need to maintain a healthy work-life balance.
