The labor market is evolving dynamically, and the ongoing changes strongly impact the relationships between employers and employees. The Polish edition of the Talent Trends 2024 report, the largest and most comprehensive talent analysis in the world, developed by the recruitment company PageGroup, reveals, among other things, the difficulties in reconciling the interests of these groups resulting from new conditions in the work environment. One of the consequences of these discrepancies may be the growing negative attitude of employees toward their current positions. In 2024, 32% of respondents indicated such an attitude, which is 8 percentage points more than the previous year. Dissatisfaction with current wages also increased from 33% to 42%, prompting candidates to look for new job opportunities.
In Search of a New Job
According to the latest data gathered in the Talent Trends 2024 report “The Expectation Gap,” only 45% of respondents are satisfied with their current role. This is a decrease of 4 percentage points compared to 2023. This is reflected in the statistics related to job searching—nearly 60% of employees are actively looking for or planning to change their position within the next six months.
– The average length of service with one employer is decreasing year by year. Today, staying in one position for even 2-3 years can be seen as a sign of employee loyalty to the company. Interestingly, job searching is not always caused by dissatisfaction with the current role or salary level. The Talent Trends report shows that age plays a significant role in this matter. Half of the twenty-somethings are satisfied with their current position, and this group is also less inclined to seek new job opportunities. People over 50 are similarly satisfied with their jobs, but their priority is independence, self-fulfillment, and adjusting the work schedule to their private life rather than changing positions. Thirty- and forty-somethings are the most active job seekers—often because they are still striving for professional fulfillment – says Michał Opioła, Senior Director at Michael Page.
Salaries Retain Employees
Regardless of the economic or social situation, employees still expect higher wages. The disparity between financial expectations and the capabilities of companies, which has been ongoing since the end of the pandemic, is now a characteristic feature of the global labor market. A key conclusion from the Talent Trends 2024 report is that salary is by far the most important aspect for candidates considering taking a job in a given profession. A higher salary than the current one is the most important factor for 70% of respondents from Poland when considering or looking for a new job. This percentage has not changed since 2023. Unfortunately, as many as 42% of Poles are dissatisfied with their current salary and are looking for new job opportunities, which is 9 percentage points more than last year.
– Salaries, flexibility, and development opportunities are the three main elements that define Poles’ attitude towards their work. However, the level of salary far outweighs the other factors. Employers are also aware of this—57% of them consider attractive salaries an important factor in retaining talent within the organization. Moreover, 7 out of 10 company representatives believe that businesses offering higher wages than the competition have a better chance of attracting new employees. Aligning salary expectations is one of the biggest recruitment challenges today. Therefore, business strategy should be based on salaries, which will translate into reducing employee turnover and attracting new talent – comments Magda Tarkowska, Executive Manager at Michael Page.
Significant Discussion Around Salaries
Data from the Talent Trends 2024 report shows that almost half (48%) of respondents asked for a raise in the last 12 months. Unfortunately, 12% of respondents indicated that they never received it.
– Work is increasingly perceived as a transaction, especially among younger generations. It is not surprising that as engagement, responsibilities, and accountability increase, so does the need for employees to raise their salaries. Employers must meet the financial expectations of employees—after all, the salary level determines whether a person stays with the company or not. The Talent Trends 2024 study showed us an upward trend in granted raises. It is worth noting that the most willing and frequent negotiators of salaries are those aged 20-29—almost 60% of them. With age, the willingness to fight for higher salaries decreases—among 50-year-olds and older employees, only just over 30% declare that they are seeking a raise. Regardless of age, in the case of employer refusal, it naturally leads to mobility and the search for new, more lucrative job opportunities – adds Joanna Patela, Principal Consultant at Michael Page.
Today’s expectations of employees for higher salaries do not always match reality. For employers, it should be most important to find a balance between what employees are looking for and what the budget allows.
Methodology
All data, unless otherwise indicated in the report, comes from an online survey conducted by PageGroup and UNLIMITED. The survey included nearly 50,000 respondents from around the world. The survey was conducted between November 26 and December 11, 2023.
