Ante Up: Pay is a Priority

Bonnie Johnson
August 15, 2024
Newsletter Article

Is your company struggling to retain top talent? Discover the key reason employees are leaving and why higher pay is the ultimate game-changer. Our latest survey uncovers what really motivates professionals to seek new opportunities—don’t miss these eye-opening insights.

Employers put extra effort into retention practices in a competitive job market. That includes recognizing what may cause their talented employees to “jump ship” and leave the employer for another opportunity. Many HR conversations focus on company culture, work-from-home, professional development, and recognition initiatives to enhance employee engagement and retention. But what do agriculture and food industry professionals say will actually entice them to leave their current job for a new one?

Higher Compensation. Pay. Moola. Bucks. Let’s Talk Money!

AgCareers.com surveyed nearly 2,000 candidates and employees about what benefits they value and how employers can improve. We asked them, “What would motivate you to leave your current job for another opportunity?” Pay matters when discussing employee retention, and even more so today.

As much as we want dedication, purpose, and commitment, waving more dollars is appealing to candidates. “Higher compensation” was the top motivator for employees to leave their current work situation and tackle a new job, and this was consistent across all age groups.

Our survey also asked respondents what factors influenced their choice of employer. When determining which employer to work for, which factor had the greatest sway in their decision-making process? The top factor again was the salary/compensation package.

Plus, nearly half of respondents said they did NOT feel like they were compensated fairly. Interestingly, experienced professionals expressed more dissatisfaction with compensation. Employees with over 15 years of work experience were most likely to be dissatisfied with their salary.

Employers can address compensation concerns and stay competitive with the trusted agriculture & food industry salary survey—the AgCareers.com Compensation Benchmark Review. Serving the industry’s unique needs, employers benchmark their compensation packages against competitors to create effective and strategically sound compensation solutions. Find out more here, or contact compensation@agcareers.com.

For a detailed look at the Candidate and Employee Benefits Survey Report referenced in this article, download your free copy here.