Why people are looking for more than just a paycheque from their current and/or future employer

For those seeking new employment opportunities, there’s usually a set criteria for what they will look for in their next role, including the big one… salary. And for those who are current employees at your organisation, they’ll want to be financially rewarded for their hard work and progression but also know that they’re looked after.

Both scenarios impact businesses as you want to attract and retain the best talent in order to help your organisation deliver year-on-year business goals and reduce hiring costs. Although we know salary plays a big part in an individual's decision to join or stay at a company, others value additional perks and workplace culture which will ultimately contribute highly to their workplace experience.

According to a study from Glassdoor, 77% of adults would consider a company’s culture before applying for a job there and over half of the respondents said that company culture is more important than salary when it comes to job satisfaction. So why are people looking for more than just a paycheque from their current and/or future employer?

Cost of living is rising

It’s been well documented throughout the media that the cost of living has continued to rise across energy, food and gas which has a direct impact on people and businesses worldwide.

Although there is a demand for a higher salary to combat the cost of everyday living expenses, what else are you doing to help your team? Employees will value your company for adding useful benefits to their perks package which can help them with purchasing goods and services but also improve their physical, mental and financial wellbeing.

According to Sky News, food prices rose at their fastest rate since 2008 in August - up 9.3% after a 7% increase in July. With more and more people having to cut back on their spend on food in general, could you help reduce the burden on food inflation? Our clients find offering workplace meal allowances a great way to help ease the burden of food inflation prices on their employees.

Find out how you could offer your employees a meal allowance from Deliveroo for Work here.

Help with goods, services and wellbeing

According to the CIPD, around one in eight (12%) say their pay is not enough to support an acceptable standard of living. During a time of inflation, it’s important you are offering additional benefits as part of your employee value proposition - wondering why?

When your rewards programme is competitive you immediately show current and future employees you care and want them to have the best employee experience during their tenure at your organisation. Benefits don’t always have to be extravagant, as not all businesses will have the budget to fulfil this, but there are options out there to make your offering competitive.

Aside from the basics like a pension scheme, life insurance, health insurance, charity volunteering, you could personalise your own rewards package. This could include hybrid working, a wellbeing allowance, catered team social events, birthday day off, financial support, healthcare discounts, meal allowances and more.

Learning and development

Another big perk that goes under the radar is your learning and development offering for your employees. According to Team Stage, an online project management software company, 86% of employees claim they would’ve stayed at their jobs if they were offered training by their employer.

To reiterate, an overwhelming majority of employees say they would’ve stayed at their jobs if they were offered training by their employer. As a firm believer in having a competitive training and development programme here at Deliveroo for Work, we can confirm that this is not only appreciated by employees but it also broadens your team’s skillset.

Upskilling your staff can not only cut future recruitment costs but it also helps improve employee engagement, increase productivity, prevents gaps in skill sets and enhances quality of work to name a few benefits.

Create a place where your team wants to be

Nuffield Health reported that 80% of Brits feel working from home has had a negative impact on their mental health citing isolation and loneliness as major factors. A stunning statistic which highlights the need for more balance in working patterns but also the importance of your office space.

Whether your business is adopting a phased return to work, or embracing a hybrid approach, creating a positive and supportive company culture is more important than ever. According to LinkedIn’s global trends report for 2022 , if employees feel cared for at work, they are three times more likely to be happy in their job and 40% of job seekers consider workplace culture a top priority.

With 60% of our clients of our clients saying food is absolutely essential or very important to their current work environment, we know there’s plenty of opportunity for you to create a place your team wants to be. Whether that’s through food or other face to face initiatives, turn your workplace into a fun and productive haven for your employees.