Money talks - Marketing Professionals chose cash over benefits

New research, released today by recruitment specialists Stopgap and Marketing magazine, finds that money talks when it comes to motivating today’s marketing professionals. Despite much recent publicity around the importance of a good work / life balance, almost two-thirds of marketing professionals would still chose a 10% pay rise over greater flexibility in the workplace.

Likewise, over half of respondents would prefer a 10% increase in salary than the equivalent number of extra days holiday, while more than three-quarters of marketing professionals want cash bonuses over share schemes.

However, demands do alter somewhat according to circumstances. The survey found that the higher the level of seniority, the more likely people were to prefer time off or greater flexibility to a pay rise, whereas greater flexibility is also more attractive to those on the agency side of the industry as opposed to in-house professionals.

The good news for companies is that if they get it right, they will be rewarded with immense loyalty from their employees. 82% of respondents would prefer to stay at one company and develop their career than look to advance by flitting from one organisation and role to another.

Claire Owen, managing director at Stopgap commented: It is interesting that many professionals place so much store on short-term cash benefits. However, it may be that this is a sign of the times - in the aftermath of tough economic times, it is perhaps only natural that marketers are now keen to increase their salary.

What does come across loud and clear from the results is that most people don’t want to change jobs - it’s only when they don’t feel their needs are being met that they will look to make the break. Surprisingly, the majority of respondents place relatively low importance on benefits such as job sharing, maternity benefits and flexible working. At the end of the day, it’s personal aspirations that matter most, aside from hard cash of course! Issues such as achieving a good work / life balance, recognition and progression opportunities are all vital. The challenge for employers is to address these needs, while recognising some of the harder financial demands of today’s professionals - after all, to lose a valued member of staff for 10% extra salary hardly makes good business sense.

Craig Smith, editor of Marketing magazine commented,

Companies that do well have a knack of making it seem easy, but it boils down to several key principles; open door policies, keeping staff informed and individual career development plans. A valued, happy workforce produces the best results.