When looking for new opportunities in the job market, the majority of people have their own list of priorities to help them make decisions. Typically, this may involve positive business atmosphere, job progressions and salaries and benefits.

Although higher salaries are a classic lure for job-seekers, the demands of Cambodian employers have recently changed a great deal. Statistics show that more than half of Cambodian employees are likely to choose better benefits over higher salary. Significantly, during COVID-19 pandemic, more employees tend to exchange higher salary for better job stability and flexibility.

Even though employees start to change their preference regarding this matter, we explore the reasons why some workers still choose higher salary as well as why some decide to go for better benefits.

Reasons why to choose higher salary

1. Immediate cash to pay bills, for savings and for regular expenses

The major advantage of higher pay is the immediate increase in cashflow. This particularly helps those wanting higher revenue for daily transactions and luxuries, as well as those that have upcoming loans or charges to cover.

If your job or your personal objectives are closely related to money expenditure, a higher salary over a larger benefits package may be worthwhile. This instant, higher expenditure capacity will also help you determine how to develop or preserve your work-life balance (and lifestyle) that fits better for you, which in turn maximize occupational drive and efficiency.

2. Helps with long-term financial goals

Higher salary not only aid one's financial needs immediately but also benefit one's financial objectives over the long term.

If you want to invest in real estate, a side company, or other long-term business, you can have an immediate source of increased revenue. Individuals are more likely to borrow the required loans with proof of high income.

In addition, greater annual pay improves financial security which refers to an appreciated incentive in the context of the current global pandemic. With Cambodians now increasing their saving efforts, higher salaries are probably still the priority for many.

3. Instant gratification

At last, getting a higher salary increases your satisfaction instantly, boosting your motivation and productivity in the workplace.

Higher salary offers you an instant, psychological reward for your achievements and provide you a real pay for your years of hard work and experience. The happiness given will lead to a happier, empowered working environment that can drive you to your greatest achievements and improvements continuously.

Although it obviously depends on your career value, a greater salary will serve to increase your confidence and drive as an employee.

Reasons why to choose better benefits

1. Healthcare, wellness, and retirement perks

On the other hand, acquiring benefits over high pay could lead to a long-term career satisfaction and happier lifestyle overall. These are the main factors that benefit packages also include generous health and fitness services, such as providing employees with a health insurance plan.

For example, Australian companies often provide this advantage in one of three ways: by completely subsidizing healthcare services for their workforce, by partially providing funding or by arranging a health plan bundle where employees are free to volunteer to pay for themselves.

Wellness programs, including fitness workshops, gym memberships and mental wellbeing services are also a regular advantage of the business (among others). For instance, Commonwealth Bank has gone as far as to provide services for "ethical well-being" to help its workforce with their daily costs and long-term financial objectives.

Finally, retirement perks are an always attractive advantage to employees, letting employees survive well after their working days secure financial life. This involve the provision of a generous pension scheme or additional pension.

2. Flexible work opportunities

The increasing need for telecommuting (especially during COVID-19 pandemic) would likely give workers more flexible hours and/or the option to work remotely.

The achievement of flexible working conditions will save resources for transportation, gasoline and extra childcare (if applicable). Eliminating everyday tension will also enhance your success, allow you start and finish work faster, and work in a period and place that better fits you and your needs. This also improves the general well-being and helps you achieve the highest job efficiency.

The benefits programs usually include paid holidays, maternity/paternity care, sick insurance and extended term leave.

3. Professional development programs

Ultimately, firms might provide professional training for the advancement of your career. This is particularly attractive for work seekers who prioritize professional development and the ability to step up to higher positions and responsibilities.

The implementation of a professional approach may be offered in many forms. One of the more common methodologies is lectures, forums, presentations on site or an online repository of teaching tools and materials. Some organizations may also have structured counseling or mentorship to help you gain business knowledge by person-to-person feedback and advice.

Online training is another type of advanced training that your employer will finance as part of your benefit package. This encourages you to develop your talents for different projects (or industry) openings in new fields of expertise.

You are able to do job assignments with more trust and intent with chances to learn skills. You would now be well able to organize your career and prepare for progress.

Take the job that suits your career goals

Benefits are essential, but better salary is an equally great bonus; however, it depends on your priorities as you decide to accept a position. More people, on the other hand, would likely be happier with an increased salary than employer perks. Try to figure out what matters most to you as a career applicant, and go for that.

As mentioned, professional development is ideal for helping further your career goals whether this be advancing the ladder or seeking new roles.