Perks over Pay – What benefits candidates REALLY want in a new role.
Perks over Pay – is it a thing?
We’re super stoked to roll out our fresh Salary Indicators document for 2024. It’s an insider guide to what’s up in terms of salaries in London’s design and branding industry. This is always a much-anticipated document for our candidates and clients alike, but we have also realised, especially over the last couple of years that “money doesn’t maketh the person” …
With over 30 years partnering up with design and branding agencies, we have a good idea what we are talking about – we have enjoyed the ups and downs of UK economics and industry blips, hiring aplenty, new agencies cutting their teeth and thriving. We have also had front seats to the recession and experienced the Covid epidemic first hand. Bearing this in mind, we can confidently say that candidates look for so much more than a high salary when changing roles today.
So, what’s really happening here?
Sure, salary is the “bread and butter” of any role, however today’s candidates are seeking a much more rounded existence and experience when committing to a new role. This includes company culture plus what the company stands for. B Corps, and “agencies for good” that promote high standards of social and environmental performance, sustainability, transparency, and accountability are making waves… candidates want to know that their time and contributions are being utilised for a “greater good”. Inclusivity and diversity are other major draw cards… yet we also have the great work / life balance debate… – cue the rise of killer benefits packages, where perks and privileges take centre stage.
Perks & Benefits – the lowdown
We could wax lyrical about every perk and benefit out there, from the “deal breakers” to the “nice to haves” and there are also those perks that are unique to different agencies and their culture. We have outlined the benefits below which are currently striking a loud chord:
- Hybrid / Flexible working hours – mix of remote working, or earlier or later starts etc. The average now is 3 days in the studio, which also really helps culture & learning & collaboration
- Early leaving on summertime Fridays
- 9 day working fortnights i.e. you don’t work every other Friday
- Holiday days – and more specifically 25 days and ideally Christmas – NYE as extra
- Professional development opportunities – and properly managed, not just lip service
- Clear career path – key objectives
- Maternity / Paternity packages
- Private Medical / Dental
- Pension
- Memberships i.e. gym, or culture, museums, etc.
- Wellbeing initiatives
What do candidates REALLY want?
We are currently running a poll on LinkedIn, and although it’s still running, hybrid working is still “king of the castle”. It’s having your cake and eating it. When you are in the office, you are soaking in the awesome office vibes, brainstorming and collaborating with colleagues and making the most of being together and getting things done! When working from home, people can work in a way that suits them best and according to studies, this can lead to higher engagement levels, improved performance & productivity and an increase in job satisfaction. If a business offers flexi hours, the early birds and night owls are working at times where they feel they are most productive and efficient.
Flexibility appears to be the key trump factor here! It satiates the candidates’ need for the perfect work-life balance and it also opens the candidate pool as the role becomes less about location and more about the right/best person for the role.
Looking at both sides of the coin, we do understand why some agencies are a little hesitant to adopt this flexible / hybrid approach – being in the studio is where they thrive, collaborate, brainstorm and learn from each other. It creates a connection between colleagues that is not only productive from a business standpoint, but it also encourages teamwork and the feeling of belonging.
We see both sides and there is definitely merit to both, even so from a candidate standpoint, hybrid-working is often the deal breaker when weighing up different job offers.
What are your thoughts?
As much as we have “been around the block” we are always interested to hear our clients and candidate’s views – So what is YOUR deal-breaker? What will sweeten one job offer over another and why? Email us on hello@gabriele.couk – we want to hear from you!