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Sydney, 5 April 2023 – The newly released 2023 Salary Guide, from specialised recruiter Robert Half reveals almost two-thirds (63%) of Australian employers have had a candidate accept a job offer because of their company’s benefits package, even when they were unable to meet the candidate’s salary expectations. This further highlights the importance of benefits to employees in today’s hiring market.

The most commonly offered benefits include flexible work schedules (60%), mental health programs (55%), remote work options (52%), extra paid parental leave (50%) and wellness programs (48%). To continue to attract and retain talent in 2023, the Salary Guide reveals 70% of employers plan to increase their benefits in 2023 and 67% plan to allow employees to swap a proportion of their salary in return for (a) non-financial perk(s), including holidays.

“With many companies focused on cost management, businesses might not be in a position to award pay rises or higher starting salaries amid economic uncertainty, said Nicole Gorton, Director at Robert Half. “While salary is a prime motivator and the main incentive of a remuneration package, offering a competitive salary is just one piece of the puzzle. Businesses are increasingly recognising the power of benefits to land, motivate, engage and keep their top performers.”

“Australian companies benefit from diversifying their incentives offerings beyond the purely financial aspect as professionals seek the complete package and place added emphasis on quality of life,” said Gorton.

What companies are currently offering

Australian businesses have already embraced a range of benefits to enhance their employee experience, with the majority currently offering flexible work arrangements, and benefits relating to lifestyle and health.

Independent survey commissioned by Robert Half among 300 business leaders, including 100 CFOs and 100 CIOs in Australia.

The wave of new perks and benefits for employees

Employers are now considering how to go beyond what is currently being offered to stand out as an employer of choice. Flexible work arrangements are not only among the most common benefits currently offered, they are also part of the most popular perks and benefits to be introduced in 2023, in line with employees’ priorities when evaluating a job. An early finish on Friday afternoons is the most popular initiative being planned, with 30% of employers planning to implement this perk in 2023. A compressed work week, in which employees work the normal number of hours in fewer than five days, is the second most-popular option planned by 29% of employers.

Employers are also planning to bolster their employees’ leave entitlements. Some Australian employers are planning to extend the provision of commonplace leave entitlements, such as extra paid annual leave (27%), paid parental leave (27%) and a leave of absence or sabbatical (25%), while others intend on offering paid domestic violence leave (27%) and paid menopause leave (25%) to employees.

Allowances and assistance programs are also planned to be offered more commonly, with Australian employers intending to provide a remote work business allowance (28%), a car allowance (26%) and subsidising meals (25%) at work. Further modern perks such as wellness programs (25%), the ability to make extra superannuation contributions (24%) and childcare assistance (24%) are also on the cards for more Australian employees.

However, in 2023, employers are also looking at how they can support their employees’ lifestyles more broadly, such as offering reproductive health benefits to support IVF treatment (22%), health insurance (25%) and financial planning assistance (27%).

Training and development opportunities also remain a focus of employers this year. More than one in four (28%) plan to provide a training allowance to help employees upskill. International secondment opportunities are also planned to be offered by 27% of employers now that Australia’s borders have opened.

“To empower their employees and elevate their organisation as an employer of choice, business leaders are upping the ante when it comes to their benefits program. Australians are actively seeking out job opportunities that not only satisfy their monetary ambitions but also their lifestyle needs, such as financial and mental health support being offered on top of the highly sought-after flexibility benefits.”

“A company’s perks and benefits structure is reflective of their wider corporate culture, so innovative and comprehensive packages not only help attract and retain top talent, but they can also support a long-term talent pipeline of employees and help build staff engagement overall,” concluded Gorton.

Robert Half - benefits - April.pdf

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Notes to editors

About the research

The study is developed by Robert Half and was conducted online in November 2022 by an independent research company, surveying 300 hiring managers, including 100 CFOs and 100 CIOs, from companies across Australia. This survey is part of the international workplace survey, a questionnaire about job trends, talent management, and trends in the workplace.