a look at a global pandemic’s impact on the world of work

Despite COVID-19 being at the forefront of the global conversation and the resulting economic uncertainties, job seekers are displaying signs of confidence — including negotiating salaries, backing out of job opportunities and even ghosting or ignoring calls from potential employers. The Randstad COVID-19 2020 U.S. Compensation Insights survey explores the sentiments of 1,200 American workers on today’s salary negotiation practices, honing in on generational and gender differences.

Here’s what we learned:

Although younger workers are more likely to get cold feet or “ghost” prospective job offers, these generations are doing less of it — and the number of traditionalists (65+) is on the rise.

I've gotten "cold feet" with a job opportunity in the past, accepting a job offer, only to change my mind and back out at the last minute.

54% of gen z 
60% of millennials
50% of gen x
35% of boomers
28% of traditionalists

I've “ghosted” (accepted a job offer only to disappear entirely without informing the employer ahead of the start date) an employer for a higher paying job opportunity elsewhere.

48% of gen z
52% of millennials
41% of gen x
21% of boomers
16% of traditionalists

Despite the pandemic, not much has changed in other respects. Our survey reveals a continued disconnect between employer wants and employee needs regarding pay transparency.

	2019*	2020
I prefer to keep my salary or pay private and not discuss it with others.	76%	78%
My company does not publish salary or pay information for each role.	55%	54%
I wish my employer would publish salary or pay ranges of what each role earns across the company.	60%	58%
My company publishes salary or pay information for each role.	45%	46%

Women and men have different salary negotiation tactics. Women can be better self-advocates, but the trend of women being less likely to engage in any sort of negotiating or discussions or pushing for higher salary continues.

	all	women	men
I have asked my colleagues about their salary before entering salary negotiations.	41% agree	36%	47%
I would rather negotiate for a higher amount and settle for a number in the middle than ask for nothing.	78% agree	75%	81%
I've never negotiated my pay.	54% agree	57%	51%
As a negotiation tactic, I've told a prospective employer I had another job offer — when I really didn't.	39% agree	35%	44%
I prefer giving a specific number rather than a range when negotiating for a higher amount.	65% agree	61%	70%
I would leave my role to find an equivalent position at a different company just to make a salary jump that I won't receive if I stay at my current company.	63% agree	60%	66%

Generationally, older workers are more likely to ask up front for the salary they want, whereas younger workers are more indirect with negotiations.

I would rather negotiate for a higher amount and settle for a number in the middle than ask for nothing.

71% of gen z
78% of millennials
82% of gen x
79% of boomers
82% of traditionalists

I've never negotiated my pay.

61% of gen z
61% of millennials
52% of gen x
45% of boomers
52% of traditionalists

As a negotiation tactic, I've told a prospective employer I had another job offer when I really didn't.

52% of gen z
62% of millennials
50% of gen x
34% of boomers
22% of traditionalists

Compensation remains a key factor in employee retention, but employees appear to be less confident that they will receive ongoing pay increases in the wake of the global pandemic.

My compensation is sufficient to make me stay in my current role for the next 12 months.

  

I expect a pay raise every year in order for me to stay at my current company.

	2018**	2019*	2020
all employees	82%	66%	62%
gen z	82%	73%	65%
millennials	91%	74%	78%
gen x	80%	71%	72%
boomers	76%	62%	57%
traditionalists	63%	43%	40%

Additionally, while salary remains important, there are other ways to effectively attract and retain workers.

I would rather take a position with growth potential than a position that pays more but does not challenge me.

I would rather negotiate for a stronger benefits package than a higher salary.

Lastly, job satisfaction remains positive as employers respond to COVID-19.

I am satisfied at how my employer's response to COVID-19 met my personal needs.

I am satisfied at how my employer's response to COVID-19 met my professional needs.

Their compensation has not been negatively impacted by COVID-19.

I have a positive outlook on my employment options over the next six months and 12 months.

***** ***** ***** ***** ***** 

Source: Randstad

https://rlc.randstadusa.com/for-business/learning-center/future-workplace-trends/randstad-2020-compensation-insights?utm_campaign=rusa_workforce%2Bmanagement_client_rus_all&utm_medium=press&utm_source=prnewswire