Money is not everything for candidates
Many of my placements in the last few years share the same experience that candidates make decisions on other factors that are not related to money.
The latest report from Tower Watsons also shown the same facts that employee experience or as in the report called the EX-factors has played the key roles in the job selections and performances. Ex factors in the report include inspiration, drive, trust, growth, market focus, voice, inclusion, capability, collaboration, support, organized work, organized structure, understanding, and fair pay (which is the last thing at the bottom of the graph).
One of Mr. Candidate has rejected the high offer and selected lower paid as this job served him more in the EX-factors that he can gain more experience in the new business sector, opportunity to drive the business, and believe in the organization that he will gain high support from the team, being trusted and open to hearing his voice.
The report and my own experience have shown that candidates shift their interest from monetary-related to a more meaningful and employee-centered approach. The organization that can serve these EX-Factors cannot only guarantee the best success in hiring but can also ensure the high-performing organization. As we knew, when people are engaged, performances and retaining are undoubtedly successful.
The report also suggested organizations design human-centric HR Programs by gathering data and insights that attract their current employees. I recalled that one of the International Company in Bangkok has set up a working group, to create new policies to improve employee engagement and well-being. Most of the requests are not money-related such as flexible working hours, one day work from anywhere program, casual outfit, etc. It is surprising to hear from the HR Director of the organization that they did the research every quarter after changes and found that the performance is not dropped but delivered in the opposite direction. The team had increasingly performed and engaged.
For Senior Executive candidates, I believe that there are more high-level factors involved such as the trend of the business, Executives’ visionary, or overall picture.
Everyone must define their motivation and drives as they could be your reasons to select the best place to work and motivate your daily works. Everyone has always been driven by multiples factors. If the organization failed in one factor, there might be other factors that motivate certain employees.
Everything has a certain value although it is not financial value, it could turn into something more sustainable for your career path and well-being.
The article was written by Nina Phinnipha Suriyong
Technical Recruitment Consultant at RLC Recruitment, RLC is expert in Technical Recruitment and helping clients to optimize your HR and Operational Cost from our various solutions such as recruitment, payroll, outsourcing, leave application, training, coaching, visa & work permit, 1-day recruitment campaign, recruitment project, outplacement, and etc.