What to look out for in a job: It’s not just about the salary

NewsOctober 28, 2021 10:56

Do you often feel that you are so busy that you can’t even take a breather? Well, you are not alone.


Official statistics from the Organisation for Economic Cooperation and Development (OECD) reveal that the average time individuals spend on leisure has dropped since the 1980s. In the 2010s, leisure time decreased in 8 out of 13 countries while the number of people in time poverty (share of the time devoted to leisure and regenerative activities is less than 60 percent of the median) has increased since 2000.


Alarmingly, since the start of the pandemic, more than 15 million US workers have left their jobs from April while 40 percent of employees in the US, Australia, the UK, Canada as well as Singapore reporting that they are “somewhat likely” to resign within the next half a year, according to a McKinsey report in September. Close to two-thirds of this forty percent were even ready to leave with no new offer in hand, a cause of concern for many companies.

What do these numbers suggest about our attitude towards working life? It’s not just about the salary that makes people stay in their jobs.


If it’s not just about the salary, then what do employees want?

If it’s not just about the salary, then what do employees want?
Of course, pay is important, but there are other factors at play now that may matter more to employees.
From the McKinsey report above, pay was not even the top three reasons why people decide to quit. Rather, it was feeling undervalued by their companies or by managers or the lack of belonging to their companies that made them leave.
More employees are now looking for higher autonomy, greater recognition and flexibility in working hours, improved holidays, and generally anything that makes them feel that working life is more enjoyable.
A career opportunity should be rewarding, challenging, and cater to your career interests. Before deciding on a job change, here are some considerations you should be looking out for (other than the salary package):

 

1. Start with Skills
You should first evaluate your current skills and capabilities - What can you bring to the table at this point in time? Are you utilising your current skillsets in your current job? What are skills do you think you need to cultivate in your career? 


Consider your value-add, and the potential to add value to your career skillsets.
 

2. Opportunities to Grow
Other than skills, look for a company that invests in the growth of its people and provides opportunities that will help you progress to a more senior role, management role, or whatever brings you to your long-term career goal. Make sure you are clear on what the company can offer in terms of professional development and how you can eventually attain your career advancement.

3. How your Work is Recognised
We all like to be recognised for our efforts at work, but sometimes the line drawn can be unclear. Ensure that your next company has clear guidelines on how they appraise and reward performance.

 

4. Work-life Harmony
Maintaining work-life harmony is not only important for your personal relationships, health, and wellbeing but it can also improve the efficiency of your work performance. In today’s fast-paced, volatile job landscape, the ability to achieve work-life harmony is increasingly difficult, so it is more important than ever for you to find a job that respects and encourages balance.

 


Do you think salary is the most important factor in a job? What other factors would make your stay in a job other than the pay?