Pay is no longer the driving factor when looking for a new job, say Optimus Recruitment as it examines job satisfaction in the Jersey finance industry. Instead, the importance is shifting towards a healthy work/life balance, with employers introducing programmes to address mental health and staff wellbeing.
Jamie Guyer, Managing Director of Optimus Recruitment, said: “As we celebrate International Happiness Day, a recent survey* has found that only one in four employees are unhappy at work, compared to one in three a year ago. We believe employee satisfaction is on the rise due to a change in working cultures, with employers recognising that happy staff are good for business.
“We are seeing a lot more wellbeing benefits being offered to candidates as part of their packages. These range from the more common gym memberships and free fresh fruit, to massages at your desk, meditation classes and dedicated mental health support during working hours.
“With such fierce competition for talented individuals, offering these types of benefits can really make the difference between which job offer an employee chooses and demonstrates that these companies really do care about their employees. Pay is no longer the overriding factor in choosing a role, it is more to do with a firm’s environment and culture.”
Unemployment is at the lowest it has been in Jersey for eight years, with the number of those actively seeking work having dropped by 330 during the last year. Despite job satisfaction levels having increased, the survey also found that 47% of employees would still be looking for a new job in 2018, a statistic which Optimus feel would be echoed in the Jersey finance sector.
“This is less to do with job dissatisfaction and more to do with a change in culture. Younger employees are more ambitious and career-driven than ever before and willing to make the move to achieve their goals. It is also not unusual to see people move through several jobs or to switch careers during their working life nowadays.”
The survey revealed that the most popular reason for leaving a role was attributed to poor management, with career progression and feeling undervalued also being closely tied to employees’ happiness. Through its recruitment services, Optimus has learned that offering flexible working arrangements, providing staff with challenging work and maintaining a good work/life balance are the most important factors when people look to move roles.
*Survey was conducted by Investors in People, as part of their 2018 employee sentiment poll.