Online employment marketplace SEEK has released the latest edition to its Laws of Attraction portal, which reveals what attracts Australian workers most to a job, based on updated insights from a survey of over 14,700 Australian workers.
SEEK’s research revealed that compared to other generations, Gen Z workers (those born in 1997 or later) place the greatest importance on working for an SME in comparison to a large or enterprise business.
Overall, those looking to work for an SME place a great deal of value on work-life balance (14.6 per cent), salary/compensation (13.1 per cent), working environment (11.5 per cent), and career development opportunities (10.9 per cent)
With regards to career development, the research found that workers who prioritise working at a small business place greater value on career development opportunities than the total working population. Compared to other employees, SME employees are more focused on career development opportunities such as promotion opportunities (53 per cent), in-house training (17 per cent), sponsored study (31 per cent), mentoring programs (39 per cent). Gen Zs in particular rank career development higher in priority than any other generation, with their key priorities include in-house training programs and on the job training.
SME workers are also seen to place greater importance on the social and environmental responsibility of a prospective organisation. Compared to other workers, SME workers give importance to THE organisation’s values and how it manages its impact on the environment (45 per cent consider a ‘must-have’) and how it provides staff with volunteering/charitable opportunities (29 per cent).
In addition, more than one in three workers looking to work for an SME consider a potential employer offering additional super in a role as a ‘must have’. This is prioritised 15 per cent higher than those who are looking to work in a larger organisation in their next role.
The research also found that unlike their counterparts who are looking to work in larger organisations, individuals looking to work for SMEs place greater value on offerings that provide greater flexibility in their time e.g. flexible working hours (46 per cent consider a ‘must-have’) and the ability to work part-time (42 per cent consider a ‘must-have’).
Location is also important for these workers. A workplace being close to home and easy to ride/walk to is top of mind for these workers, with 51 per cent and 40 per cent considering it a ‘must-have’ respectively. It must be noted though that Gen Zs place less importance on work-from-home arrangements when it comes to work-life balance, and instead prioritise offerings that give them greater time, such as additional leave, flexible working hours, and time in lieu as compensation for overtime/additional hours worked.
Salary review periods offered by an employer is also of particular importance to these workers, with over 60 per cent considering it a ‘must-have’ when evaluating a job opportunity. Gen Zs place the most importance on benefits such as insurance (31 per cent consider a must-have), equity in the business (30 per cent) and other business discounts/offers (e.g. gym memberships and movie tickets) (15 per cent).
Gen Zs in particular are actively on the lookout for organisations that are supportive of current or upcoming life changes. For instance, they consider the likes of relocation allowance (22 per cent) and company paid parental leave (44 per cent) as must-haves.
Gen Zs also lead the charge amongst generations when it comes to expecting organisations to be committed to gender pay equity, with over half of workers from this generation considering it a must-have when on the job hunt.
