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Pay less important for UK workers

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British employees are less likely than their global peers to rank pay as their top priority when looking for a job, according to research from member-based advisory company CEB.

According to the CEB’s global labour market survey of 18,000 people, almost half (46%) of global workers said pay was the most important factor when job hunting.

In comparison, less than a quarter (24%) of UK workers said the same.

More than half (53%) of British workers ranked having a good work-life balance as the most important factor, followed by location (46%), stability (36%), respect (33%) and future career opportunities (29%). Pay was ranked sixth.

In the UK, pay dissatisfaction was cited as the eighth most important reason for leaving a job by 25% of respondents, behind factors such as future career opportunity, people management and respect.

However, the report also found that UK workers were the most dissatisfied with their current pay packet, with only 21% saying they were fully satisfied.

CEB executive director Brian Kropp said although money is still important, people are clearly “not just chasing the biggest pay cheque”.

He added: “At a time when few companies can afford dramatic salary rises, the focus for many will be on getting the non-financial aspect right.

“Even those with the biggest and most flexible recruitment budgets have to adapt to the new environment. Just throwing money at talent management is no guarantee of getting the best people in and keeping them. Stimulating work and a good manager are every bit as – and often more – important.”