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Employees seek job security over money

LONG-term job security means more to Australian workers than a competitive salary, especially in ...

Lau Caruana
Employees seek job security over money

The research found men are more likely to seek out employers that offer better long-term job security, strong management, career progression opportunities and are more financially stable, while women are more likely to seek out employers that offer flexible working arrangements, who promote diversity in the workplace, have a pleasant working environment and offer better work life balance.

When 7000 people were asked to rate the most important factor influencing their decision to work for a company, 26% rated long-term job security as most important, with the company's financial health rating as second most important (19%).

Competitive salary and benefits was a distant third with 11% rating it as the most important factor.

Randstad chief executive Fred van der Tang said the research was a further sign that uncertain economic conditions were having a telling effect on the labour market in Australia and around the world.

Van der Tang said the research represented a significant shift, when the economic outlook was much more optimistic and there was greater certainty in the job market.

"When we conducted the same research in 2011, 25 per cent of jobseekers told us salary was the ultimate determinant in the attractiveness of an employer, with only 11 per cent electing long-term job security. This year, we have seen a complete reversal," Van der Tang said.

"In early 2011, we were emerging from the GFC and there were green shoots emerging everywhere. Business and consumer confidence was strengthening, employees were on the move and there was pressure on salaries. Clearly, jobseekers were more concerned with better pay than ensuring they have a secure job."

This year, we've seen the pendulum swing back towards employers, which has somewhat eased salary pressure and forced jobseekers to be more conservative in their remuneration expectations, Van der Tang said.

"A lot has happened in the last year. We've had the threat of a double dip recession, the collapse of the US economy, the eurozone crisis and slowing growth in China," he said.

"When you combine this with the recent spate of highly publicised large-scale redundancies at some of Australia's largest employers, it doesn't paint a very positive picture for jobseekers."

But Van der Tang said the nature of Australia's patchwork economy meant jobseekers' priorities varied from industry to industry.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

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