Recruitment and workforce trends are constantly changing as technology and society continue to rapidly evolve, and new data raises the bar on how to attract talent as culture catches up to compensation as an influencing factor.
Procom surveyed 1, 740+ contingent and permanent workers across the United States and Canada to uncover what’s most important to them amidst heightened expectations, competition and uncertainty.
Company culture is catching up to compensation as a top talent priority
Conventional wisdom maintains that pay rate and salary are primary factors in determining whether someone accepts a contract or permanent position. As monetary compensation increases have spread across the market, however, cultural factors such as collaborative work environments, meaningful work and flexibility have begun to show increased influence on talents’ decisions to accept an assignment – or to end one early.
Top 5 Factors influencing talents’ acceptance of assignments in order of importance
The following factors are very or extremely important to talent:
1. Maximum compensation (68%)
2. Collaborative/supportive work environment (66%)
3. Minimal commute (66%)
4. Meaningful work (65%)
5. Schedule flexibility (65%)
Statistically speaking, the top 5 responses are very close; however, the culture and experience elements of an assignment are clearly catching up to compensation as a driving factor in accepting or rejecting an opportunity.
Talent also lists the following factors as very or extremely important:
6. A positive interview experience (62%)
7. Up-to-date tools and technologies (56%)
8. Company stability (55%)
9. Hybrid-work opportunities (51%)
10. Professional development/upskilling opportunities (50%)
11. Company commitment to Diversity, Equity and inclusion (48%)
12. Potential for health/wellbeing benefits (47%)
13. Frequency of pay (34%)
14. In-person work opportunities (33%)
Gen Z seeks the bigger picture
When accepting an assignment, our data indicates Gen Z workers are more interested in opportunities with companies that:
- Advance their professional development and upskilling opportunities.
- Are accountable on their commitment to Diversity, Equity and Inclusion.
- Provide a positive interview experience.
More experienced workers consider current environment
Millennials, Gen X and Baby boomer workers are more interested in opportunities with:
- Collaborative work environments
- Meaningful work
- Most up to date tools and technologies
- A minimal commute
In the New World of Work, organizations can improve worker engagement by focusing on the overall talent experience, rather than pay.
The Re-Imagined Recruitment Playbook
We have captured hard won lessons learned across thousands of worker hiring engagements by our team of professional recruiters and distilled them into practical ideas that you can start using immediately. The Re-Imagined Recruitment Playbook is a step-by-step guide to help source, screen, select, onboard and retain talent in the New World of Work.