Attracting talent begins with pay transparency in job postings

While renumeration may not the only factor for organisations to attract and retain talent, almost half of jobseekers do not apply to job roles if wages are not disclosed, found a survey by Gartner.

However, more than half of job candidates said they would choose better work-life balance and a more interesting career path or more opportunities to learn new skills, over a higher salary.

86% of survey respondents who can work either in a full or hybrid remote arrangement also prefer to work remotely more than 50% of the time and would be willing to forgo 10% higher pay for flexibility in where they work.

The survey also found that 59% of candidates who recently accepted a job offer would still make the same choice now, falling from 83% in 2021. On the other hand, 28% said that if they had to make the same choice again, they would stay with their previous company.

The survey, conducted in June 2022, sought responses from jobseekers across 14 countries, 23 industries and 20 functions. Some 11% of respondents were from Australia and New Zealand.

“Not only are candidates keeping their options open, but they are more likely to back out of offers after accepting,” said Jamie Kohn, director in the Gartner HR practice.

The survey also highlighted that 44% of respondents had backed out after accepting an offer, compared to 36% in 2019.

READ: Why compensation is vital in the Great Employee Reset

Over one quarter of jobseekers sought new roles as they were feeling unappreciated in their current job. Some 25% of respondents also said they started exploring new job roles as they believed they could command better compensation elsewhere.

“Job changes appear to be motivated more by negative experiences with the current job than by the perception of opportunity elsewhere,” said Kohn.