We all like to think that our business is a great place to work, but are you doing enough to attract potential new employees amidst an overwhelming number of job vacancies available to candidates?

A good starting point is knowing exactly what candidates are looking for in an employer, and instead of just assuming that a fat pay packet was the number one motivator, we decided to do some research of our own.

Thanks to our existing talent pool of quality candidates who took part, our survey results shows that money is not the most important factor in attracting, motivating and retaining employees.

Here’s why:

Training and development to ensure individuals’ skill sets stays ahead of the curve was top priority for the great majority of respondents. For many, having access to on and off-the-job training, as well as continuous professional development opportunities was essential to make them feel engaged and keep them enthused.

TOP TIP: Offer each new employee a clear career development progression alongside benefits like salary, holidays, pensions, etc. We all need to know we’re working to greater goals than our monthly wages!

A great proportion of those interviewed said that feeling valued and respected within the business makes them more reluctant to leave and helps them become more driven to forge a successful career path inside the organisation. This is great news for small and medium companies as it proves that they can be as attractive as their blue chip counterparts if they implement a robust employee engagement programme that makes everyone feel included and valuable. In addition, a happy and friendly working environment can also increase staff confidence and even make coming to work fun!

TOP TIP: Create fun competitions like ‘dress up days’ for charities or staff days out!

Flexible working ranked third in employees priorities in the workplace. Trying to balance the challenges of home and family life with those of a job is stressful for many of us. But as the survey showed, a little flexibility regarding opening times and teleworking goes a very long way. People feel less pressure and thus they are less likely to call in sick or changes jobs if they find a role that fits their lifestyle and expectations.

TOP TIP: Create a rota and discuss with your team members how everyone can enjoy a little flexibility in and outside the office environment. In addition, teleworking resources like Dropbox and Skype can also serve as tools for achieving greater workforce flexibility.

Remuneration came fifth on the ‘ideal company’ list for many candidates. Indeed, a fair salary package is desirable for many employees, but the key work here is ‘fair’. Monetary gains can only go so far in motivating individuals and many of them simply want an honest pay for an honest day’s work. It’s as simple as that.

TOP TIP: Offer employees incremental salary increases and yearly inflation increases.

Job satisfaction and reward schemes are two elements that were also mentioned by the survey respondents. Knowing that they are employed in a stable business that is going from strength to strength is essential to their wellbeing and dedication to the job.

TOP TIP: Don’t keep business successes just at board level! Share new contract wins and any other accomplishments with all staff members so they know they’re working for a company that’s going places.

Overall, our survey proves that staff members are inspired by how a job makes them feel, rather than how much money it gives them. So if you are a business owner and you think that “money makes the world go round”, your employees probably beg to differ!