Satisfaction more important than salary, Xing survey finds

More than half of the companies surveyed (52 per cent) said they have faced greater recruitment challenges since the pandemic. Every fifth company said that employee turnover had increased during the pandemic. Four out of ten Germans are open to a new job or have already taken concrete steps to find a new position. The findings indicate greater willingness to change and endorses Xing's January survey of employees. 

More competent leadership, an improved work-life balance or a more exciting job are the main motives for leaving a company, the Xing survey found. However, many companies rate employees' motives for changing jobs differently and believe that financial incentives or competition from other employers are the main reasons. Although salary continues to play the main role in job interviews (83 per cent), financial incentives are the decisive factor in only one in five job changes. "We are experiencing a turnaround in the labour market," said Frank Hassler, Board Member of New Work SE with responsibility for the Recruiting and Employer Branding units. "Today, companies are the applicants and have to find talented people - not the other way around. This shift in power will change the labour market permanently."

The reversal could also be the reason for jobseekers' increased expectations. Apart from salary, job requirements, work-life balance, job security and flexible working hours, employees also value a good corporate culture and management. Around 37 per cent of respondents prioritise sustainability, the survey found.  Thus, soft factors are becoming increasingly important when deciding for or against a company. 

Companies should focus not only on an applicant's qualifications, but also whether the person is a good cultural fit in terms of corporate culture. "Corporate cultural factors are far more in focus than before and have an enormous impact on recruiting. Acknowledging jobseekers' needs and being appropriately positioned opens up huge opportunities for companies vying for talented professionals on the labour market and may prove decisive," Hassler pointed out.

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