January 22, 2018
More than one-third of hiring managers (35%) in the United States and United Kingdom expect their employees to quit over the next 12 months, based on results of a study by recruitment site Glassdoor released on January 10.
The reason? Nearly half (45%) of the 750 hiring decision-makers interviewed for the poll identify salary as the top motivator for leaving, followed y career advancement opportunities, benefits and location.
While two-thirds (64%) of respondents believe that their organization is either “satisfactory” or “very satisfactory” at clearly setting salary and benefits expectations within job postings, salary ranges still remain an enigma, Glassdoor reveals.
Indeed, more than one-third (37%) of hiring decision makers say retention rates would increase significantly if new hires were better informed during the hiring process.
In addition, a separate Glassdoor survey, conducted during 2017, found that nearly all job candidates and employees (98%) say it would be helpful to see pay ranges included in open job listings.
“Pay can be a big motivator for employees to take a job, however, very few job listings actually include pay information, even if this is overwhelmingly what job-seekers want,” stated said Glassdoor Chief Human Resources Officer Carmel Galvin, adding, “If candidates were better informed about how their pay and career could progress during the initial job search and recruiting process, they would be less likely to take a job that turns out to be a bad fit,” .
Half (48 percent) of hiring decision makers note salary and compensation is the most influential factor for a candidate decision on where to work. Pay offers from rival firms are a significant consideration for employers. Fully two-thirds noted that competing offers were a major challenge in attracting and hiring informed candidates.
“There is almost always going to be a rival firm that could potentially pay your best people more, but Glassdoor research and other third-party studies confirm that company culture matters more than pay as a driver of long-term employee satisfaction and engagement,” Galvin explained.”
employer pay realities, Glassdoor introduced salary estimates in job listings last year. In the majority of U.S. job listings on Glassdoor, job seekers will see an estimated pay range based on recent employee-provided salary reports for similar job titles at the company, its competitors and other employers in a specific location. Glassdoor expects to include coverage outside the U.S. in the future.
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