As workers’ expectations for pay increases, flexibility, and career development grow, it’s more crucial than ever for employers to meet these needs. According to ADP Research Institute’s “People at Work 2023: A Global Workforce View” report, an incredible 10% of workers are expecting a pay raise of over 15% within the next 12 months. Salary was unsurprisingly identified as the most important factor in job satisfaction, with 61% of survey respondents placing it above job security (43%) and career progression (40%).
In addition, 62% of workers are confident that they will receive a pay raise and 41% anticipate a bonus from their current employer in the next 12 months. Flexibility of hours was also identified as being more important than the flexibility of working location, with 29% of workers emphasising the importance of hours compared to only 17% who said the same for location.
The report further found that the trend of digital nomads has the potential to become a permanent part of the workforce. Nearly half (48%) of respondents said they would be able to relocate overseas and still work for their existing employer, and 28% think that within five years, it will be the norm in their industry to have the ability to work