In a sample of over 4 thousand respondents of various nationalities, the study showed that in Portugal remuneration continues to be the most important factor when choosing a new position, but the overall results tell a different story: work-life balance is just as important.
Of the 291 respondents who said they lived in Portugal, studied at Nova SBE, or identified themselves as Portuguese, the top 5 criteria that would most influence their decision to take on a new role were:
- Salary (including bonus) - 24% named this criterion in their top 3
- Good work-life balance and flexible working - 23%.
- Opportunities for rapid career progression - 16%
- Opportunity to generate global impact at an early stage - 8%.
- Inspirational Leadership - 7%.
Compared to the overall results (4,206 respondents):
- Good work-life balance and flexible working - 21% named this criterion in their top 3
- Salary (including bonuses) - 21%
- Opportunities for rapid career progression - 12%
- Inspirational Leadership - 11%
- Opportunity to generate global impact at an early stage - 9%.
Despite the near tie between the factors that weigh when changing jobs, the research reveals slight differences between geographies and generations. If, at a global level, 21% of the respondents place the balance between professional and personal life in the same level of importance as salary, in Portugal salary wins by a slight advantage. 24% placed salary (including bonus) in their top three, while 23% highlighted the good balance between professional and personal life (including flexible working).
When it comes to different generations, 20% of respondents over 35 years old showed that they give greater importance to work-life balance than to salary, contrasting with 20% of recent graduates and younger professionals, for whom salary is still a primary factor.
"Our study reveals that for professionals around the world, while salary is always an important factor, it is not the determiningone.Achieving a good work-life balance and having the opportunity to generate impact in a role is more important than ever, for employees of all ages," commented Nicole de Fontaines, Executive Director of CEMS, quoted in a statement.
"As we return to the office, and at a time when attracting and retaining the best talent is high on the agenda, it is important that organisations listen carefully to what professionals want most and act accordingly. That way, they can attract the most talented employees, benefit from their people's ambition, encourage innovation and ultimately gain a competitive advantage in uncertain times."
A new trend also has to do with the growing desire for internationalisation of careers. The criterion "opportunity to travel the world" appeared among the top five criteria for the youngest respondents (from 19 to 25), but was far down the list for other age groups.
CEMS conducted this study in autumn 2021 among 4,206 of its alumni in 75 countries around the world, most of them in senior management positions. In Portugal, 291 people were surveyed.