As a result of the Covid-19 pandemic, work life balance is now the standout reason candidates will be attracted to a potential new employer, according to a report conducted by search firm HRM. Of the 1,882 people surveyed, nine in ten (97%) respondents say a work life balance is influential in their decision on whether to engage with a new employer.
When deciding on whether to engage in an interview process with a new employer, seven in ten (72%) said a better work life balance would be top of their agenda. Six in ten (67%) said they would accept an offer if the workplace allowed flexibility and over half (54%) of respondents would like to commute less. Only one in ten (10%) respondents want to return to their offices or sites full time.
The experience candidates have with an organisation during the hiring process, is the number one factor determining whether they continue with a process with nine in ten (96%) describing it as influential. Main deterrents during a selection phase included 8 in 10 (89%) referring to a lack of rapport with the hiring manager during the hiring process.
In terms of reasons for refusing an offer, six in ten (67%) citied ‘lack of flexibility offered’. Four in ten (44%) said they would refuse a job if the company didn’t offer any remote working.
Employees have raised the bar on standards of behaviour they expect from their organisations. Seven in ten (78%) said adverse publicity would impact their decision on whether to interview with or join a firm. A public scandal involving a senior executive of a firm would influence six in ten (63%) candidates for the same decision.
Other key elements that would impact a decision on whether to accept a role include financial gain and culture. Nine in ten (97%) said they would be influenced by leadership culture while nine in ten (98%) said they would be influenced by total cash compensation including bonus.
When deciding whether to engage in an interview process with a new employer, nine in ten (94%) said they would be influenced by financial gain while nine in ten (93%) said they would be influenced by career advancement and opportunities.
Michael O’Leary, CEO of HRM, said;
“Understanding the key motivations for candidates is essential to organisations who wish to attract the best talent. We undertook this research knowing that the pandemic has had and continues to have, a profound impact on shaping these. The first challenge is for organisations to align their employee value propositions (EVP) accordingly and the second, is to ensure that these EVP elements are authentically promoted in the right talent pools and demonstrated throughout a hiring process.
We know as a consequence of the pandemic period, that people’s values have increased influence on many aspects of their lives, including their career decisions and that we have all become even more addicted to news through social media. This presents a further challenge for organisations in managing their employer brands, particularly when bad news from one side of the world now reaches the other in seconds.”
View the full report here