“The number one question we’re [now] asked by employers? How to stand out as their preferred candidate’s first choice.”

The survey found that professionals know their worth and are generally comfortable about asking for a pay rise, with over half surveyed having already secured a salary increase, new job or both. But salary increases are still restricted, with 51 per cent of employers planning to increase salaries by less than three per cent.

“The current skills-short environment requires a new equation in the world of work to be defined.”

Nick Deligiannis

This could create problems for employers wanting to retain talent because an uncompetitive salary is the top factor motivating 49 per cent of job searches – up from 39 per cent last year – and ranking ahead of a lack of promotion opportunities and poor management or culture.

But money is not the only factor in the equation. Organisational purpose remains a strong driver for professionals deciding where to work, with 51 per cent of employees saying they will only consider a role with an organisation whose purpose reflects their own. Just six per cent say organisational purpose is not a consideration at all.

“Employees are motivated when they feel valued and can create impact – and they want to bring their authentic selves to work,″⁣ Deligiannis says. ″⁣Remote work has meant that many employees feel not seen and out of touch with their company’s values, purpose and culture. The employee experience needs close attention.”

The most popular benefits employees want are more than 20 days’ annual leave, and ongoing training and learning development. While 81 per cent of employers offer training, only 23 per cent offer additional annual leave, meaning employers that do could gain a competitive advantage.

The disruptions of COVID-19 continue to have an impact. Two-thirds of employees say they want an adaptive hybrid environment and flexible schedule rather than set in-office and remote workdays.

Yet 38 per cent of employees also report that it is difficult to switch off outside work hours when working from home.

Only 12 per cent say workplace mental health support would have the biggest impact on improving mental health and wellbeing.

Far more impactful are flexible working hours (52 per cent), hybrid and remote working (46 per cent) and an improved office environment or culture (43 per cent).

Overall, the survey results paint a picture of a market where skilled professionals can increasingly take charge of their careers. But the value exchange between employer and employee still requires both sides coming to the table, Deligiannis says.

“Now more than ever, employees are seeking personal value and purpose at work, and employers need teams that can work with ambiguity and have the capacity for continuous upskilling to meet future capabilities needed. Both sides need to come together to solve today’s increasingly complex problems.”

To download the Hays Salary Guide FY22/23, go to hays.com.au/salary-guide