The Great Renegotiation

The pandemic has left many changes to the world, with a notable mark on perfecting a work-life balance.

The pandemic highlighted things people were unhappy with within their careers. Leading to many people quitting their job, changing careers, seeking an early retirement or reducing to part-time hours.

Employees now have higher expectations which is the driving force behind the great renegotiation.

We have used information from the following methodology:

The Great Renegotiation report was commissioned by Talos360 and carried out online by Censuswide between 16th March 2022 and 22nd March 2022. The sample comprised 1,011 employees working in organisations in the UK with 10+ employees, who had been looking for work within the previous 12 months. All research conducted adheres to the UK Market Research Society (MRS) code of conduct (2019).

Salary Transparency

Salary transparency is key to keeping employees happy, with the majority wanting to work in a company where pay was openly discussed. Salary transparency has helped to close the gender and diversity pay gaps within some organisations.

Flexible working

Working from home during lockdown was a huge adjustment and stressful for some, however, employees have become accustomed to the additional time they had from not commuting to work. Lockdown saw a surge in pet ownership, another reason for the increased desire to work from home as well as juggling childcare. People also enjoyed having more opportunities to keep on top of household chores. Remember during the pandemic when loungewear was sold out everywhere online? The study found that many, mainly females, preferred less formal and more comfortable work attire.

Hybrid

Hybrid working is on the rise, giving employees the “best of both worlds” Employees can reap the benefits of working from home (hooray for furry friends) and being in the office.

New hiring processes

Recruiters, like us, need to be on the ball at every stage of the hiring process to secure the best talent, ensuring salary, benefits and any flexible work patterns are communicated clearly.

There is an array of job-seeking recourses candidates can use, this means recruiters need to ensure adverts are well written and attention-grabbing to draw top talent in.

• 36% of job seekers use recruitment agencies
• 32% use LinkedIn
• 31% social media
• 29% go to industry-specific job sites
• 11% of jobseekers still use good old job adverts in newspapers.

and it is important to note that 55% of candidates are deterred if the salary estimations are not advertised.

Our own LinkedIn poll found the following:

Where do you look for jobs?

Linked In 82%

Use a recruiter 12%

Go to the company website 3%

Other (please comment) 3%

Simplify...

People are now busier than ever so candidates want a shorter and more streamlined application and interview process.

They need to know who they're applying to work for, their reputation, the salary, and other benefits that are on offer.

To sum up, here is what employees are considering with each opportunity

• Better salary
• Flexible hours
• Good Reputation
• Benefits
• Clear progression
• Work close to home
• Upskill opportunities
• Work from home
• Better job title

There has been a culture shift in the working world and employee expectations have changed. Employers who recognise and demonstrate this in their offers will more easily attract and retain the best talent. Employees are in a strong position to negotiate with many new business practices coming into play such as flexible, hybrid, and remote working, upskilling opportunities, and more recently the 4-day work week. Employers need to be transparent in their salaries, values, and benefits for working for them to attract top talent.

If you would like some no-obligation advice on how to navigate through negotiations, do not hesitate to get in touch. We are always happy to help and
are with you every step of the way; Recruiters for life.