Germany Talent Trends
Latest reports show Germany is heading for its best growth performance in six years, with company demand for new employees increasing as the jobless rate holds steady at a record low of 5.6 percent. This optimism was also reflected in the workforce; job-seeking in Germany increased nearly 10 percent year-over-year.
Organisations looking to capitalize on this increased job-seeking, should note that in Q3 2017, compensation fell out of the top five drivers of attraction for the first time. Workers prioritised work-life balance, location, respect, stability and vacation ahead of gaining more money when considering new job opportunities. At the same time, work-life balance also grew as a major source of dissatisfaction for 65 percent employees, which could be the reason why just 14 percent were going above and beyond in their jobs, a decrease of 3 percentage points from the previous quarter.
Offering greater financial incentives is not the silver bullet for keeping workers engaged and productive. As more employees pull back from work in an attempt to strike a better work-life balance, organisations need to use non-financial incentives, such as greater flexibility in how and where their people work or development opportunities, to reward and acknowledge top talent.