Keeping up with what’s driving tech and business talent to stay, strive or switch roles can feel like a never ending battle. 

After surveying nearly 700 candidates for our latest Candidate Motivators Report, things have changed yet again. 

We know that work-life balance is in and pushing for that pay cheque isn’t priority number one anymore. 

For a quick recap, this year’s top five drivers were: 

• Offers flexible working arrangements (47.85%) 
• Supports a good work-life balance (45.45%) 
• Provides attractive salary and benefits (37.48%) 
• Offers career progression opportunities (37.16%) 
• Promotes balance and wellbeing (33.33%) 

Not only are people’s motivations changing, we also discovered a few other interesting trends that you’ll want to take note of. 

Independent and Individualised Thinking Is In 

Last year, everyone seemed pretty much on the same page when it came to their top drivers. In 2023, things aren’t as straightforward - people aren’t afraid to express what they really want. 

For example, in 2022, 58% of all respondents agreed that a solid pay cheque was their number one driver. This year, our top motivator (flexible working) was chosen as number one by less than half of all our respondents. 

What does this tell us? 

The one-size-fits-all approach has well and truly gone out the window. Tailoring your EVP to encapsulate the culture you want to cultivate is more important than ever. Stop focusing on what you think candidates want to hear and instead showcase your benefits and what is actually important to your business. 

Show me the money …. and a little work-life balance 

As we said, last year it was all about that money, money, money. People were wanting a good solid foundation of income when on the lookout for a new role. However, just offering up a healthy bank balance is no longer the key to attracting and retaining talent for the long-term. 

With the cost of living continuing to rise, the reality is it’s not sustainable to continue boosting these larger salaries. But those hard working, high performing employees are looking for some sort of compensation in this changing world. 

So what do you do? 

Whether it’s attracting new talent or retaining the amazing employees you have, money alone is no longer the best incentive for a long-term relationship - you need to offer the whole package. Give them something that benefits more than just their wallet. 

Maybe it’s better holidays, better flexible working arrangements or even stepping into the world of hybrid/remote working. Something that gives people a better sense of work-life balance is a definite winner at the moment. 

Not only has a good salary moved down to the number three driver, less than half of this year's respondents even had it in their top five. Instead we’re seeing a take over of wanting more time to hit that morning yoga session and drink that almond latte by the beach. 

While having a decent pay to keep up with life's neverending bills is still important (60% of respondents have changed jobs in order to find a better salary), the Australian dream is changing. We no longer live to work - we want to work, but also really live. 

Green is Good 

Society’s ideals and norms are changing and as we’ve seen, they’re also influencing and changing the motivations of job seekers. This seems to be particularly the case down in Melbourne. 

Of all the cities we surveyed, Melbourne had the greenest thumbs. The citizens of Melbourne are taking a stronger stance when it comes to ensuring their employers care for Mother Nature. 

While considering environmental impact may have only come in at number 10 on the list (22%), things get interesting when you consider that having a good salary only made it to number 12. 

It seems there has been a flow-on effect with the Greens and Independents winning more seats in Victoria this year. With a change in political parties comes a change in societal norms. With a change in societal norms comes the need for business to make a few adjustments to what they value in day-to-day operations. Embrace those wooden spoons and biodegradable cups! 

While in Sydney environmental concern came in last place (9%) and Brisbane only ranked it at number 16 (11%), there is definitely an emerging trend here. You bet we’re keeping a close eye on this one. 

The Ship You Know 

These days it’s less about jumping ship and more about sticking it out with your crew. 

While overall there has only been a slight increase in the number of respondents 

wanting to move roles internally in the last 12 months (going up to 10% from 8%), we did notice some bigger changes on the horizon. 

Last year, if you were looking to boost your bottom dollar, the best way to go about it was to jump ship and find a new role with a new company. 

This year, those who experienced the greatest salary increase in the last 12 months were those who stayed on board and moved roles internally. 

What’s fueling this? 

After the whirlwind that was the Great Resignation, we’re now experiencing the Great Stay. Fueled by the fear of what was, companies are upping their retention efforts and boosting counter offers, and it seems to be working. 

Does this mean we can expect to see an increase in internal mobility in the coming 12 months? Guess you’ll have to stay tuned to find out. 

In the meantime, if you want to keep your current crew happy, a few things to take note of. 

Last year, for those wanting to move roles internally, an attractive salary was the number three driver. This year, salary didn’t even get an honourable mention, dropping out of the top five completely. 

Taking first place was work-life balance (no surprises there), followed by career progression in spot number two. 

Also dropping out of the top five was working for a company that was financially healthy. With the recent mass layoffs from companies seemingly doing fine with their financials, strong earnings no longer equals job security. 

Lastly, there has been an increase in the number of respondents using their training budgets when moving to a new role internally (61%), so be sure to keep those progression packages bolstered. 

Top Tech Talent’s Top Concerns 

And what are those concerns you ask? 

Our respondents have told us that for the next 12 months they’re going to be particularly focusing on: 

• Maintaining work-life balance (17.54%) 
• Keeping up with the demands of my job (13.08%) 
• Boosting my salary (11.48%) 
• Getting a promotion/career pathways (8.13%) 
• Keeping my job (7.97%) 

However, these concerns aren’t the same across the board. 

For example, those in more executive roles are most concerned about having hard conversations with their team about layoffs and cyber security threats (something that didn’t even get a mention in the list above). 

Whether it’s motivators or concerns, it’s all about the individual - it’s time to stop tailoring to the masses. 

We Want Wellbeing 

You know we couldn’t wrap things up without mentioning what’s proven to be the biggest trend to come out of the entire 2023 report …. the rise of wellbeing! 

According to the 2022 PWC What Workers Want Report, more than one-third of workers (37%) consider their employer the main source of mental health support. 

With flexibility and work-life balance coming out as top drivers for our report, the need to support employee and jobseeker wellbeing is well and truly the way forward. 

Want to Win the War…. 

… on attracting and retaining talent? 

It’s all about a tailored approach to your benefits. 

Listening to the marketing and getting a true understanding of what your individual candidates want is the golden ticket to attracting and retaining that top talent. 

Want to get the full detailed breakdown on what candidate’s can’t live without? Click here to download our 2023 Candidate Motivators Report.