The salary ceiling, it’s not just about the money

(Money and Life)

Thinking of a new job? With wage growth staying low, better benefits and work-life balance could be something to look for in your next role. Find out about the latest workplace trends for supporting employees with their health, finances and work-life balance.

The salary ceiling

While the wage growth rate in Australia for 2018 may be up on last year, it’s still very low with second quarter figures putting the wage price index at 2.1%. What this means is we’re seeing salaries rising only a fraction faster than inflation, with just 0.3% growth in real wages. If you’re in the market for a new job, this doesn’t bode well for pay negotiations with potential employers.

That doesn’t necessarily mean a new job has no new rewards to offer. Perhaps you’re looking for the challenges and opportunities to learn that a different role could bring. And at a time when companies are under more pressure to innovate and grow, it’s becoming more common for employees to look at new ways to attract top talent and keep their workforce engaged.

Flexibility is key

When it comes to choosing a place to work, flexibility is something many people value. Whether it’s the option to choose their hours, work remotely or more variety in the type of work they do, employees are often on the look out for an arrangement that suits their lifestyle better than working nine to five in the same office every day. According to the Mercer 2018 Global Talent Trends report, 51% of employees would like their company to offer more flexible work options and 71% of people who are thriving at work say their employer provides flexibility at work[1].

It’s good news for Aussies that the flexible working trend seems to be catching on. In their latest report summarising five years of data collection, the Workplace Gender Equality Agency found more employers are making a commitment to flexible working arrangements.

Almost a quarter of employers (70.7%) now have a policy or strategy for flexible working, compared with just over half (57.5%) in 2013-14.

By the time a job offer is on the table, the topic of flexible working arrangement may something you’ve already discussed. But if it hasn’t and it’s something you’re looking for, be sure to bring it up, particularly with your future boss. The Mercer report also found that while flexible working may be more common these days, it often happens in an ad hoc way and at the discretion of a manager[2