54% Australians seek better work-life balance over pay increases: Study

Despite economic pressures, the quest for better work-life balance and overall wellbeing has driven nearly half of the employees to change jobs in the past year. New research from Humanforce has unveiled a significant shift in the priorities of Australian workers, challenging traditional assumptions about job satisfaction and career motivations. 

The study, which surveyed 500 workers across Australia, revealed that nearly half of them had changed jobs within the past year. Surprisingly, despite a sharp increase in living costs, 54% of these workers switched employers not for higher pay, but in search of better work-life balance and overall wellbeing.

Holly Barnes, Chief People Officer at Humanforce, emphasised the importance of this trend. "This trend challenges the traditional belief that higher wages are the foremost concern for Australian workers, particularly during economic downturns. Our research findings suggest that workers are instead placing greater value on whether their workplace is a good fit for their overall lifestyle and if it affords them the flexibility they require," she said.

This shift is underscored by the fact that 98% of respondents cited the overall employee value proposition (EVP) as a crucial factor in their decision to move. Today's employees are looking for more than just financial benefits. The most appealing aspects of an EVP include work-life balance initiatives and opportunities for career growth and development.

"For today’s workers, a compelling EVP extends well beyond one’s salary. It's integral to creating a workplace where employees' personal lives and professional goals are recognised and supported—a strategy that is proving essential for attracting and retaining talent, even in tough economic times," Barnes added.

Contrary to the expectation that financial pressures would make higher wages the primary focus, many workers are now seeking longevity in roles that align with their lifestyle needs. This sentiment is echoed by 60% of survey participants who expressed little to no interest in changing jobs within the next six months.

Interestingly, 40% of those who had changed roles in the past year reported lower job satisfaction than anticipated, highlighting the need for businesses to take greater initiative in supporting employee wellbeing. "Our data indicates that after a few turbulent years where high numbers of employees jumped ship to new employers, there is now a shift towards long-term satisfaction in the workplace, where wellbeing and stability are paramount over quick financial gains," Barnes explained. "Businesses that recognise and act on this by offering a high-quality EVP will set themselves apart as employers of choice."

To attract and retain talent, an EVP should encompass four critical areas: emotional wellness (mental health), social wellness (workplace culture and life outside of work), physical wellness, and financial wellness. Many companies are already making concerted efforts to retain their talent, with almost 70% of employees confirming they had received support from their current employers to stay in their roles.

Humanforce's research also highlights the vital role of HR technologies in supporting a business’s EVP. A remarkable 96% of the Australian workers surveyed stated that technological innovations are crucial in creating positive workplace experiences.

"Businesses are urged to complement their needs of driving organisational growth, profitability, compliance confidence and productivity, with a genuine focus on its people. Give employees control and flexibility over their working life with easy access to their rosters and payslips. Ensure that they feel heard and really feel part of your company," Barnes noted.

Humanforce's Human Capital Management (HCM) suite directly supports the shift towards employee wellbeing and flexible roster-driven work by giving employees the tools to manage their work-life balance. "It's about practical autonomy — the ability to align work schedules with personal needs. This approach not only meets employees' expectations but also enhances overall job satisfaction, leading to better retention and productivity for businesses," Barnes concluded.