Perks or Salary? What’s More Important?

There are many aspects and factors to consider when searching for a new job, and one of the main discussions focuses on perks and salary.?People wonder?which is better?and what they should prioritise, but?what is better: perks or salary?

In this blog, we will explore the advantages of these two topics so you can have a better perspective on what to choose for your next professional step.?

The Importance and?Advantages of Salary

One of the main factors to consider when you?get a new job is the salary; the?advantages of a salary?are important because it will define what you earn in exchange for time, skills, and labour.?

For most people, the salary is the primary reason why they work. The income enables them to meet their basic needs and support their lifestyle choices.

With the pandemic and the rise of the cost of living in Australia, salary has become a more important factor for people, so workers now expect more fair and competitive wages depending on the industry. That’s why it is now vital that employers research and negotiate for a salary that reflects the employees skills, experience, and the value they bring to the company.

The?benefits of salary?and earning a good amount of money is that this allows employees to feel more financially stable, as they can overcome the basic expenses of their lives but can also save and have more security economically.?

In addition, when employees feel they are being compensated fairly for their work, they are more likely to be engaged and productive, overall salary is always going to be an important factor when it comes to a new position.?

The Role of Perks

On the other hand, having good perks at work is essential for both employers and employees. It can help to attract and retain top talent, increase job satisfaction, improve work-life balance, enhance productivity, promote positive company culture, and improve health and wellness.?

Nowadays, for employees having benefits at work is a vital part of the work-life; some of the most popular benefits for employees?in Australia and ones you can consider when looking for a job are:?

Healthcare

Medical coverage is an essential part of people’s life; having a company that invests in the well-being of employees and their loved ones can attract people.??

From regular check-ups with doctors and hospital stays to mental health support and specialised care for dentistry, vision and prescription drugs, all these are important for medical care.?

And despite health insurance policies may differ between companies, it’s a great factor to consider.?

Paid Leave

Although work is important, having time off is also important for people to enjoy time to rest and spend holidays with family and friends.?

Consider the time and weeks the company offers you. Additionally, as part of the paid leave option it is important to keep in mind maternity leave, as moms need to be protected and cared for when they give birth.?

Retirement Savings Plans

It is important to have a retirement plan for the future. Companies that offer saving plans can be more attractive as they provide a safe option for retirement savings.?

Employees can contribute to a retirement plan and receive employer contributions, which can help to build a nest egg for their future.

Remote Work and Flexible Schedules

With the arrival of the pandemic, workplaces have had to adapt to new ways of working so now home office and hybrid work methods are more attractive for employees.?

A report published by?Adaptavist on Reinventing Work Report? revealed that Australia had the highest percentage of hybrid workers, with 34%, compared to the global average of 29%. Meaning that now companies choose this type of work system.?

By having a more flexible schedule and options like?home office days, employees will most likely feel more productive and will enhance how people perform their job.?

Culture and People?

Findings of the State of the?Global Workplace 2021 Report, ?reveal that a mere 20% of employees in Australia and New Zealand feel truly engaged in their work, while a staggering 45% experience daily stress. That’s why companies should invest in organisational culture strategies.?

A good organisational culture can improve productivity and job satisfaction; it can attract and retain top talent, improve teamwork and increase innovation.

Ask about what the company is doing to have a better workplace culture, their strategies to improve collaboration and teamwork, and overall what they do to keep the well-being of the employees.?

Professional Development

Finally, another great benefit that employees should consider is professional development; having a company that helps and invests in this topic will result in acquiring new skills, knowledge, and competencies to help individuals grow and advance in their careers.

This is essential because companies that encourage and invest in professional development opportunities for their employees to improve their skills and knowledge can lead to a more productive and engaged workforce.

Perks vs Salary: Which should I Choose???

In the end, both?salary benefits?and perks at work will have their own positive elements, and it will be up to the employee what they want to prioritise.?

A good strategy will always be to balance both, leading you to find a workplace where you’ll find a salary that is according to your expertise but also with a focus on the well-being of the people.?

Working should be a gratifying experience, but?also should be challenging so you can grow up as a professional. Wherever you choose should be in benefit of your needs.?

At Gough Recruitment, you can find different job opportunities that can fit what you are looking for,?contact us? so one of our team members can help you find the right job for you.