MILL VALLEY, Calif., Jan. 10, 2018 /PRNewswire/ -- Glassdoor®, one of the world's largest job and recruiting sites, today released new data1 which reveals that 35 percent of hiring decision makers expect more employees to quit over the next 12 months. The survey, conducted among 750 hiring decision makers (those in recruitment, HR and responsible for hiring) in the U.S. and UK, also finds that nearly half (45 percent) note that salary is the top reason for employees changing jobs, followed by career advancement opportunities, benefits and location.
While two-thirds (64 percent) of those surveyed believe their organization is satisfactory/very satisfactory at clearly setting pay and benefit expectations within job postings, salary ranges are still an enigma: Glassdoor data shows fewer than one in 10 online job listings include pay data in the job description2. More than one-third (37 percent) of hiring decision makers say retention rates would increase significantly if new hires were better informed during the hiring process.
In addition, a separate Glassdoor survey from 2017 shows that nearly all (98 percent) job seekers and employees say it would be helpful to see pay ranges included in open job listings3.
"Pay can be a big motivator for employees to take a job, however, very few job listings actually include pay information, even if this is overwhelmingly what job seekers want. If candidates were better informed about how their pay and career could progress during the initial job search and recruiting process, they would be less likely to take a job that turns out to be a bad fit," said Carmel Galvin, Chief Human Resources Officer at Glassdoor. "Recruiters and hiring managers need to manage expectations and use all channels available to them to communicate with potential candidates to ensure pay realities meet expectations. It shouldn't be a battle for job seekers to gain insights into salaries, benefits, culture and what their career path might look like in a job."
Half (48 percent) of hiring decision makers note salary and compensation is the most influential factor for a candidate decision on where to work. Pay offers from rival firms are a significant consideration for employers – two-thirds noted competing offers were a major challenge in attracting and hiring informed candidates.
"There is almost always going to be a rival firm that could potentially pay your best people more, but Glassdoor research and other third party studies confirm that company culture matters more than pay as a driver of long-term employee satisfaction and engagement. If you can improve your workplace culture and offer people career advancement opportunities, this will help you hold on to people longer," added Galvin.
A separate study4 by Glassdoor Economic Research found that employers with better overall Glassdoor ratings are more likely to retain employees. Improved workplace culture, competitive base pay, and employee career advancement opportunities are associated with lower employee turnover.
To help ensure employee pay expectations better meet employer pay realities, Glassdoor introduced salary estimates in job listings last year. In the majority of U.S. job listings on Glassdoor, job seekers will see an estimated pay range based on recent employee-provided salary reports for similar job titles at the company, its competitors and other employers in a specific location. Glassdoor expects to include coverage outside the U.S. in the future.
To learn more about what defines an informed candidates and the value of an informed candidate on recruiting and business, please visit the Glassdoor Informed Candidate Survey.
To learn more about your company's candidate demographics on Glassdoor, visit the Glassdoor Employer Center by accessing a Free Employer Account.
About Glassdoor Glassdoor is one of the largest and fastest growing job sites in the world today. Set apart by the tens of millions of reviews and insights provided by employees and candidates, Glassdoor combines all the jobs with this valuable data to make it easy for people to find a job that is uniquely right for them. As a result, Glassdoor helps employers hire truly informed candidates at scale through effective recruiting solutions like job advertising and employer branding products. Launched in 2008, Glassdoor now has reviews and insights for more than 700,000 companies in more than 190 countries. For labor market trends and analysis, visit Glassdoor Economic Research. For company news and career advice and tips, visit the Glassdoor Blog and for employer-related news and insights to help employers hire, visit the Glassdoor for Employers Blog. Visit Glassdoor.com or download our apps on iOS and Android platforms.
Glassdoor® is a registered trademark of Glassdoor, Inc. Know Your Worth™, Salary Explorer™ and the Glassdoor logo are trademarks of Glassdoor, Inc.
Aptitude Research Partners, 2017
Glassdoor Internal Data. January 2017
Glassdoor Survey, April 2017
"Why Do Workers Quit? The Factors That Predict Employee Turnover." Glassdoor Research, 2017