With salary review season upon us, many people, especially in the world of accountancy, will be weighing up their options. Should you stay put, push for a raise, or is it time to look elsewhere?

While money is an important factor, it shouldn’t be the only reason to change jobs. A career move should be about long-term satisfaction, growth, and professional reputation – not just financial gain.

If you’re considering a job switch, there are many important factors to bear in mind before making your decision.

Why Do You Want to Leave?

Before signing on the dotted line to move, take a moment, step back and reflect on why you began looking for a change in the first place. Was it a lack of career progression? A toxic work environment? Do you feel undervalued? A higher salary is always appealing, but if core issues remain unresolved, you will quickly become dissatisfied again.

Career Growth

As tempting as a big paycheck is, remember to ask yourself if the new role aligns with your long-term goals. Take time to consider the company’s culture. What are the opportunities for progression and training? Will you learn and develop new skills? If career growth matters to you, a move must take you towards your ultimate aspiration, rather than stepping sideways – or even backwards – purely for financial gain.

The Risk of a Counteroffer

A common but risky strategy people adopt when they are unhappy with their salary is to use external offers to negotiate a raise with their current employer. If you are testing the market to leverage a counteroffer, think again. While it might seem like a win, it can seriously damage your professional reputation.

In my experience, employers often see counter offers as a temporary fix and may not prioritise your career development in the future. Furthermore, unless money is your sole motivation, the reasons why you want to leave will still be there.

Work-Life Balance

Money can’t buy a good work-life balance. Does the new job offer flexibility in terms of remote work or hours that fit your lifestyle? A pay rise may not be worth it if it comes at the expense of your well-being and personal time.

Training, Development & Support

A great salary won’t mean much if your career stagnates. Does the new company invest in employee growth? Look at the opportunities for mentorship and professional development, and whether the role will help you build new skills that open-up new opportunities.

Do Your Values Align?

Work is a major part of your life, and job satisfaction often comes down to more than numbers on a pay slip. Ask yourself: Does this company’s mission resonate with me? Do I respect its leadership? Does the business empower and value its people? A misalignment in values will quickly lead to dissatisfaction, no matter how attractive the salary is.

Make the Right Move for the Right Reasons

I believe that, wherever possible, the decision to change jobs should be strategic, not impulsive. If money is your only motivation, you are going to find yourself job-hopping throughout your career as soon as the excitement of a new role fades.

In the end, the choice is yours but whatever you decide, I urge you to consider the full package: career progression, work-life balance, company culture, long-term fit, and salary.

Most importantly, remain professional. Not every job offer is right for you, but the accountancy world is small, especially in the North East, and how you conduct yourself in negotiations and transitions can impact your future opportunities.

Think long-term and choose wisely.

In a competitive job market, attracting top-tier talent is no longer simply about the salary. Potential employees are increasingly looking at the full range of benefits when deciding where to move.

It’s something I often get asked about by clients and, the truth is, to remain competitive you need to stay ahead of the game. In a rapidly changing landscape, to attract the best, you need to offer the best. So, what benefits are shaping recruitment, and what do we expect to see in 2025?

Current Trends

Most companies already offer a host of enticing benefits in a bid to attract and retain great people. Often seen as ‘perks’, these ‘extras’ make a significant difference when someone is deciding their future.

• Four-day Working Week: Many companies have increased working hours but reduced working days to help employees achieve a better work-life balance.
  
• Hybrid Working: With a bias toward working from home, hybrid working arrangements have become a standard offering, giving people the flexibility to manage their time.
  
• Flexible Hours: Employees are increasingly able to tailor their work schedules to fit their individual needs, allowing for a more dynamic environment.
  
• Maternity, Paternity, IVF, Adoption, and Foster Leave: Supporting employees with enhanced benefits during major life changes has become a priority for many companies.
  
• Private Healthcare: Going beyond standard healthcare offerings, some employers are opting for more comprehensive packages.
  
• Pensions: Offering more than the standard auto-enrolment pension schemes is becoming almost a non-negotiable.
  
• Charity: Offering volunteering days and charity events are excellent ways to boost morale and show employees that their company cares about giving back.

While these benefits create a strong offer, to meet the evolving expectations of the modern workforce, companies must continue to progress.

Benefits to Explore

There are some exciting trends set to take centre stage in 2025, with the potential to define employee benefits in the coming years.

• Personalisation: A one-size-fits-all approach is becoming a thing of the past as people search for benefits tailored to their unique needs and lifestyles. According to a MetLife survey, 74% of employees want more personalised benefits options, with 68% stating that it would make them feel more valued.
  
• Financial Wellness and Retirement Planning: There is a trend emerging for companies to place a much greater emphasis on financial wellness. Employees are seeking resources to help them manage debt, plan for the future, and improve their financial literacy. Providing these tools not only reduces stress but also enhances overall well-being.
  
• Mental Health: Since COVID-19, the focus on mental health has never been greater; and the trend is set to continue. Holistic well-being packages focused on physical, emotional, and financial health are essential for a productive and happy workforce.
  
• Inclusive Work Arrangements: Employees expect flexibility in terms of working from home or adjusting their schedules but, moreover, inclusivity is at the forefront and striking the right balance is essential for employee satisfaction.
  
• Sustainability: People want to know their employer cares about the environment. A Deloitte report shows that 69% of employees want their company to invest in sustainability initiatives. From reducing carbon footprints to supporting social causes, tree-planting initiatives, and using sustainable products in the office, being a responsible company is a big draw.

While competitive remuneration will always be critical to talent attraction and retention, staying ahead with the accompanying benefits package shows that you are in tune with what employees truly want.

It is a quickly moving landscape, but if you have the flexibility to personalise benefits and stay adaptable with your offer, you have a golden opportunity to position your business as a top employer in 2025.

You need the right mix of support, trust, benefits, rewards and salary if you want to attract and retain the very best people.
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Whether it’s to improve employee engagement or recruit and retain top talent, coming up with a benefit and reward scheme that matches your company culture should be high on every employer’s agenda.
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