Perks & pay: for employees earning less than £30K.

What’s more important, perks or pay for employees earning less than £30,000 a year? 

If you keep your eye on the jobs news, you’ll spot a common theme. Researchers always want to know more about your working values and how these compare to each other. The perennial question tends to include ‘what matters more to you, your salary or your…!’ (As a case in point, we recently reported on the topic of company culture versus salary level.)

Today’s source specifically explores the parity of the work benefits package and salary for the ‘under £30,000 workforce’.

Perks or pay?

In this instance, the title suggests that they’re ‘just as important’ as each other – and many of the employees surveyed place more weight on other work-life benefits.

  • 45% of respondents are happier when offered learning and development opportunities
  • 36% value flexible working hours, including ‘leniency in start times and/or breaks’
  • 26% already enjoy non-typical work schedules
  • ‘Frequency of pay’ is briefly mentioned as an additional motivator
  • Candidates are also eager to source jobs local to home (27%)

The income issue:

This sample explores the ‘Hidden Heroes’ workforce: those who earn an average salary of £16,403. This comprises employees in multiple sectors and across a variety of working ages.

So, from the above findings, you may think this group just isn’t as reliant on their income. However, many of the respondents express financial concerns.

  • Over 1/3 are ‘unsure or worried’ about covering their general bills
  • While 72% do not think they’d be able to fund ‘a large unexpected’ payment
  • Alongside this, 54% of this employee group report feeling ‘underpaid’
  • Millennials most often relate to feeling ‘overqualified’ (45%) for their roles
  • And the hospitality and catering industries contain the greatest number of workers who feel overqualified (54%)

What this tells us…

Employers looking to attract candidates for openings of this salary level would be smart to explore their wider benefits packages. What else could be offered to motivate and incentivise employees? Small changes could prove invaluable to professionals.

Naturally, extending benefit schemes across the entire workforce helps companies to maintain a competitive advantage.

For further recruitment advice, please call the office on 01225 313130. 



Money worries at work

Are money worries affecting your work? You might not associate financial concerns with recruitment discussions, however, this very topic has become an increasing news theme over recent months…

Most employees experience money worries.

But what does this all have to do with recruitment?

Working towards solutions…

  • This issue presents both a challenge and an opportunity. The more that these discussions take place, the more likely employers are to find ways of supporting their team. While the most innovative companies can make this another staff attraction and retention differentiator.
  • Professionals will also feel less alone in their money worries. Anyone who has concerns that they are unable to discuss with their employer would be wise to contact the Money Advice Service. This is a free, impartial service.
  • On a separate note, if you’ve never really got to grips with your payslip and tax code, this post should help.
  • If you’re wondering whether you could earn more for your career experience and skill-set, speak with your Recruitment Consultant. Regularly researching jobs in your industry can also improve your knowledge of the going market rates.