Study: Swiss employees tick differently

"In Europe, base salary has been ranked first for years. We attribute the fact that this factor has now gained importance in Switzerland to the subjectively perceived economic uncertainty in this country as well," says Olaf Lang, Head of Talent & Rewards Consulting at Willis Towers Watson.

Two recent studies by Willis Towers Watson show that Switzerland has some catching up to do with regard to the modernization agenda in human resources management. They reveal that the views of employees and employers regarding important factors for attracting, retaining and motivating employees are still in part far apart. This and gaps in leadership skills jeopardize the sustained commitment of employees and thus the company's success.

At European level, basic salary (1), job security (2) and a challenging job (3) are among the most frequently cited reasons for the attractiveness of an employer from the employee's perspective. These factors are also mentioned first in Switzerland, but in a different order. In this country, challenging work comes first, followed by basic salary and job security. This places salary in the top 3 for the first time compared with 2014 (6th place) and 2012 (4th place).

Significance of the basic salary

"In Europe, basic salary has been ranked first for years. We attribute the fact that this factor has now gained importance in Switzerland to the subjectively perceived economic uncertainty in this country as well. What is clear overall is that basic job requirements such as compensation, job security and the like are gaining in importance," explains Olaf Lang, Head of Talent & Rewards Consulting at Willis Towers Watson.

Job security refers not only to concerns about job loss, but also to continuity, stability of a job, or overall career security.

Keyword: Employee retention

Further differences to the global sample can be seen in the greater relevance for Swiss employees of competent colleagues, flexible working arrangements and commuting times to the workplace. While the latter plays a less important role for employee recruitment, proximity to the workplace even ranks third among the most important factors for employee retention.

In terms of retention, employees cite an attractive salary package and career development opportunities in first and second place, respectively. "The fact that other factors need to be considered for employee retention is important to know and to take into account in the HR strategy. Because if these factors can only be realized through a change, Swiss employees benefit from the still healthy labor market," emphasizes Olaf Lang.

Employers need to catch up

Employers have some catching up to do when it comes to assessing the most important employee interests. For them, the salary package comes first as a basic need to be secured. Only then do career opportunities, job security or proximity to the workplace follow. Employers also assess the importance of other retention factors differently or even incorrectly. According to the Willis Towers Watson Global Workforce Study 2016, for example, the relationship with the supervisor or flexible working arrangements play no role for employees in deciding to remain loyal to a company.

Due to the new technical and digital support possibilities, the division between highly qualified and support activities will change drastically. "In the future, companies will therefore have to look even more closely than before at which know-how they need for which tasks and with which offers - be it salary, work content, working atmosphere or development opportunities - they can attract the right employees or freelancers. This will not least increase the demands on managers' leadership skills," emphasizes Lang.

You can order the English-language presentation of the most important results at willistowerswatson@open-up.ch.