One-third of Australians workers willing to get paid less for better work experience: LinkedIn
Work-life balance, more enjoyable work or a greater sense of fulfilment have prevailed over salary, as a third of Australian workers say they are willing to take a pay cut for better work experience, LinkedIn finds.
The company’s quarterly Workforce Confidence Index also revealed that year over year, professionals in media and communications (+9 pts) have seen the largest increase in confidence in employers, while those in healthcare (-11 pts) and construction (-10 pts) have seen the largest declines.
While around half of Gen-Z Australian workers are more likely to seek better work/life balance (51%) and more enjoyable work (50%), older workers are less concerned about company benefits such as 4-day work week, unlimited paid time off and free mental health benefits.
Though the number of job postings has increased, applications per job have dropped 67% in Australia compared to May 2021.
Amongst job seekers who are applying, job postings that offer remote options tend to receive more interest with 1.7x more applications in Australia.
Compared to the end of Q1 2022 and the end of the most recent quarter Q2 2022, Australians were more confident about their work experience/education, their organisation’s recent performance and the time they can devote to job seeking.
Cayla Dengate, LinkedIn career expert, said the data showcases a change of attitude towards working.
“This focus on flexibility could be driven by many Aussies taking stock of what’s most important in their life following two years of disruption.”
LinkedIn’s Workforce Confidence Index is based on a quantitative online survey that is distributed to members via email every day – and aggregated every two weeks, with over 12,000 members responding to each wave.
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