When Hiring, Focus on More Than Just Salary

Summary

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Episode Summary: "When Hiring, Focus on More Than Just Salary"

WSJ Your Money Briefing
Date: September 6, 2017
Host: J.R. Whalen (JR)
Guest: Billy Moliere, District President, Robert Half Associates

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Main Theme

This episode discusses new data from Robert Half Associates on hiring trends during a period of nearly full employment. Host J.R. Whalen and guest Billy Moliere explore why employers need to rethink traditional recruitment strategies and focus on more than just salary. They break down what job seekers now prioritize — including benefits, flexible arrangements, and workplace culture — and what employers must do to attract and retain top talent.

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Key Discussion Points & Insights

The Evolving Job Market

• Near Full Employment: The U.S. is experiencing a strong labor market, making it more challenging for employers to attract the best candidates.
  • JR (00:24): “With the nation at nearly full employment, this is a good time to be a job seeker and a tougher time to be a hiring manager.”

More Than Just Money: What Job Seekers Want

• Salary Still Reigns, But It's Not All:
  • Billy Moliere (00:56): “Compensation, obviously, I would say still remains king, but it is not the only consideration by far.”
• Other Top Considerations:
  • Cost of Living
  • Career Path and Growth Opportunities
  • Commute and Work Flexibility
  • Company Culture and Comfort (including pets at work)
  • Billy (00:56): "We are more and more now hearing people want to know whether or not they have a career path when they join an organization."
  • Billy (00:56): “And I think [commute] is critical because oftentimes we are hearing that if my commute is longer, what kind of flexible options are there?... Can I bring my child or pet to work?”

Changing Expectations Around Benefits

• Healthcare and Bonuses:

  • Candidates scrutinize health plan contributions and want performance-based bonuses.
  • Billy (03:29): “Healthcare has become something that is very, very important to our job seekers. And they ask a lot of questions about the contribution of the employee, employer, and what those benefits include.”
  • Billy (03:29): “A lot of employees are interested in bonuses that tie to their actual performance and not just the performance of an organization.”

• Work Flexibility and Culture:

  • Job seekers are increasingly interested in remote options, shift flexibility, and an inclusive workplace culture that supports work-life balance.
  • Billy (03:29): “If an employee is spending a lot of time at work and they include the commute time, what type of flexibility do I have in my work environment? That's culture as well.”

In-Demand Fields & Hybrid Roles

• High Demand Across Sectors: Notable increases in hiring needs across finance, accounting, IT, marketing, legal, and creative fields.
  • Billy (02:07): “Finance, accounting, IT, marketing, and office, administrative and legal and creative, of course... Some positions that are very much in demand... hybrid roles, a combination of all of those skillsets.”

The Need for Speed in Hiring

• Decisive Hiring:
  • Employers who take too long risk losing the best candidates. The power has shifted to job seekers.
  • Billy (02:42): “You can't spend a month trying to decide what might be the best fit... If the employer does that, they may likely lose the best talent and have to settle for second best because they didn't make a hiring decision fast enough.”

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Notable Quotes & Memorable Moments

• Billy Moliere (00:56): “Compensation still remains king, but it is not the only consideration by far.”
• Billy (01:46): “More and more now than we've seen in the recent past [employees ask], ‘Can I bring my child or pet to work in some circumstances?’”
• Billy (02:42): “Candidates are driving what's the best fit for them… if the employer does that, they may likely lose the best talent and have to settle for second best because they didn't make a hiring decision fast enough.”

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Timestamps for Important Segments

• 00:24–00:56: State of the job market; Salary guide summary
• 00:56–01:58: Beyond salary — perks and job factors shaping decisions
• 02:07–02:37: Which fields and roles are seeing the most demand
• 02:42–03:04: Importance of quick hiring decisions
• 03:29–04:27: Most valued perks: healthcare, bonuses, flexibility, culture
• 04:27–04:54: Where to access the Robert Half Survey

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Additional Resources

• Listeners are pointed to the Robert Half Salary Guide for detailed trends and data.

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Summary Takeaway

The hiring landscape has shifted. While salary is important, today’s job seekers demand more — robust benefits, clear career paths, flex work options, and a supportive culture. Employers who act quickly and address these priorities will win the war for talent.

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Transcript

[A]

This episode is brought to you by Charles Schwab. Decisions made in Washington can affect your portfolio every day. Washington Wise from Charles Schwab is an original podcast that unpacks the stories making news in Washington. [e-mail] WashingtonWise

[B]

this Is yous Money Matters from the Wall Street Journal.

[C]

Welcome to youo Money Matters. I'm JR Whalen in New York with the Nation at Nearly Full employment. This is a good time to be a job seeke and it's a tougher time to be a hiring manager. That's the finding of the 2018 salary guides published by Robert Half Associates. But there's a lot more to the equation than just salary. Joining us to discuss is Robert Half Associates District President Billy Moliere. Now, Billy, the Robert Half Salary survey shows that employers should highlight more than just salary when recruiting to fill a position.

[B]

Compensation, obviously, I would say still remains king, but it is not the only consideration by far. The other would be cost of living. Obviously, people want to determine whether or not if I accept this role, I'll be able to maintain the same or even have a better cost of living. The other would be career path. We are more and more now hearing people want to know whether or not they have a career path when they join an organization. Is there an opportunity for them to do more, be developed to do more? The other would be commute. And I think this is critical because oftentimes we are hearing that if my commute is longer, what kind of flexible options are there? Even if it's how comfortable is the work environment going to be if I spend most of my time there, can I bring my child or pet to work in some circumstances?

[C]

So there's concern about pets?

[B]

Oh yes. Oh yes. More and more now than we've seen in the recent past. Or can I tell a commute and how flexible is my workday, can I work on shifts, et cetera, et cetera.

[C]

Now, the Robert Half Survey runs across several fields. Where are you seeing spikes or where are you seeing significant increases?

[B]

Finance, accounting, it, marketing and office, administrative and legal and creative, of course. And so we are seeing demand across the board. I will tell you though that some positions that are very much in demand and there is even more of a shortage in terms of skill sets, would be some of the hybrid roles, a combination of all of those skill sets I just mentioned where maybe it, finance, legal and even some creative are required.

[C]

And the candidates really are looking for a quick decision by hiring managers also.

[B]

Well, and that's something we speak to all the time. I mean, you can't spend a month trying to decide what might be the best fit. The candidates are driving what's the best fit for them. And so if the employer does that, they just have to realize they, they may likely lose the best talent and have to settle for second best because they didn't make a hiring decision fast enough.

[C]

I'm speaking with Billy Moliere with Robert Half Associates, and you're listening to your Money Matters. Thanks for listening, everyone. What are you seeing in the survey? You know, we talked about salary not being the most important thing and the idea of the corporate culture being important, but the most common perks that are offered by, by employers these days. Has that, has that shifted in recent years?

[B]

Well, what we're seeing is that we're getting a lot of questions. Let's say everything's equal with another job and a candidate is interested in making a move, but they need, you know, maybe they need just a little bit something different to take them over the side to the other role. Healthcare has become something that is very, very important to our job seekers. And they asked a lot of questions about the contribution of the employee employer and what those benefits include. Bonuses are important as well. I think a lot of employees are interested in bonuses that tie to their actual performance and not just the performance of an organization. So they feel like they're a bit more in control of their compensation. But the other piece, and I think it ties directly to commutes. If an employee is spending a lot of time at work and they include the commute time, what type of flexibility do I have in my work environment? That's culture as well.

[C]

And if people out there, job seekers out there, or employers want to see the Robert Half Survey, how can they do that?

[B]

They can go to www.roberthalf.com and it's available online. You can certainly also speak to any representative in any office who can actually walk through the survey. There are a number of components that are very, very value added that maybe could be helpful to get information on, but, but we can certainly make it available at a moment's notice.

[C]

Well, it is unique times for the hiring landscape. Billy Moliere from Robert Half Associates. Thanks for being with us.

[B]

Thank you very much. Appreciate it.

[C]

And that's your Money Matters. I'm J.R. whalen at the Wall Street Journal.

[A]

This episode is brought to you by Charles Schwab. Decisions made in Washington can affect your portfolio every day. But what policy changes should investors be watching? Washington Wise is an original podcast from Charles Schwab. That unpacks the stories making news in Washington right now and how they may affect your finances and portfolio. [e-mail] WashingtonWise.