Celebrating its 17th edition globally, the Randstad Employer Brand Research is the most representative and inclusive employer brand research in the world. One of the key criteria covered in the Randstad Employer Brand Research study are the attractiveness factors. This section breaks down the most important aspects that jobseekers look for when selecting a new organisation.
It is no surprise that the top five attractiveness factors have not changed drastically over the past few years - candidates’ expectations and motivations have remained pretty much the same every year. However a more in-depth analysis uncovered some interesting facts.
Salary has been consistently ranked the number one most important factor since the start of the Randstad Employer Brand Research in Singapore in 2012. Each year, between 63% to 71% of respondents have voted salary as a Top 5 most important aspect.
Work-life balance gaining traction
Work-life balance has risen significantly in terms of ranking, from 32% to 57% between 2012 and 2016, to take the second spot in the Randstad Employer Brand Research Top 10 Attractiveness Factors. According to the Bureau of Labor Statistics, Millennials are now the largest generation in the workforce. This generation of employees tend to have their own perspective of what office life should look like and our Attractiveness Factors ranking reinforces this mindset shift with the increasing focus on work-life balance.
Job security and company financial health deemed less attractive
The growth of Millennials in the workforce may also have led to a decreasing focus on attractiveness factors such as job security (dropped from 61% to 42%) and financial health of the organisation (dropped from 55% to 39%). This could be due to the fact that the average tenure of Millennials is typically around two years, which means they are essentially placing less importance on these factors.
Salary reigns supreme
Hong Kong candidates regard salary as one of the most important attributes when looking for a job, but not always. In the inaugural Randstad Employer Brand Research for Hong Kong in 2013, long-term job security (score of 65%) outranked salary (score of 63%). However, since then, job security as an attractiveness factor has plummeted from 65% to 43% in 2016, highlighting the evolving preference of Hong Kong job seekers to place more emphasis on salary and benefits.
Pleasant work atmosphere and work-life balance essential
Pleasant work atmosphere has been ranked the second most important attribute for four consecutive years, with a score of 50% in 2016. Work-life balance similarly tied for second place at a score of 50%. Companies that invest in creating a strong corporate culture and comfortable working environment tend to be rated more favourably. However, with the emergence of the Millennials in the workforce, employers should equally regard work-life balance as an important factor in attracting talent.
Interesting job content on the rise
Whilst interesting job content has not ranked in the top five in the past years, it has been on the rise gaining a few percentage points at each Randstad Employer Brand Research. Since 2013, it went up from 31% to 35% in 2015. While many expected to see job content take a Top 5 position in 2016, it in fact dropped to eighth place at 32%.
The inaugural Randstad Employer Brand Research for Malaysia in 2016, unsurprisingly, revealed that Malaysian employees had the highest preference for salary and benefits when looking at companies with a score of 69%.
A healthy company over a healthy company atmosphere
Interestingly, the financial health of an organisations was considered much more important in Malaysia than Singapore and Hong Kong. Malaysia employees scored financial health at 50%, beating out pleasant working atmosphere at 41%, an attractiveness factor much more desired in Singapore and Hong Kong.
Value in job safety
Malaysian employees considered long-term job security as one of the top three attractiveness factors for companies, drawing a score of 44%. With job security and organisational financial health coming in the top three attractiveness factors, it showed that Malaysian employees valued finding job prospects that were rock solid - with little risk of being retrenched or being shut down. Despite this, work-life balance came in a close 43% score.
About Randstad Employer Brand Research
Celebrating its 17th edition globally, the Randstad Employer Brand Research Award is presented each year to the most attractive employer in 26 countries across the globe. It is based on the outcome of the most representative and inclusive employer branding research in the world.
The outcome of the Employer Brand Award is based on public perception and focuses on three main areas: overall brand awareness, absolute attractiveness and relative attractiveness. This creates a level playing field for all competing companies instead of giving an advantage to large multinationals with higher name recognition than smaller companies. This award is not open for nomination and the results are based solely on the opinions and votes of the local workforce – making it the only award that is truly representing the people’s choice.
The 75 largest companies are selected in each participating country, usually with more than 1,000 employees. This list is presented to a representative cross section of relevant respondents based on region, age and gender. Respondents were asked to identify companies they recognise and indicate if they would like to work for them. This is then followed up with an evaluation of attractiveness factors, such as salary, benefits, work atmosphere and job content, for each of the companies.
The Randstad Group is a global leader in the HR services industry and specialises in solutions in the field of flexible work and human resources services. Our services range from regular temporary Staffing and permanent placements to Inhouse Services, Professionals, and HR Solutions (including Recruitment Process Outsourcing, Managed Services Programs, and outplacement). By combining our human touch with technology-driven solutions and tools, we aim to offer both clients and candidates the best tools and solutions for increased efficiency and engagement, connecting more people to more jobs. Randstad has top-three positions in Argentina, Belgium and Luxembourg, Canada, Chile, France, Germany, Greece, India, Italy, Mexico, the Netherlands, Poland, Portugal, Spain, Sweden, Switzerland, the UK, and the United States, and major positions in Australia and Japan. At year-end 2016, Randstad had 36,524 corporate employees and 4,752 branches and Inhouse locations in 39 countries around the world. In 2016, Randstad generated revenue of €20.7 billion. Randstad was founded in 1960 and is headquartered in Diemen, the Netherlands. Randstad Holding nv is listed on the NYSE Euronext Amsterdam, where options for stocks in Randstad are also traded. For more information, see www.randstad.com.hk.