2. FINE
DETAILS
How easy do you find it to attract top talent into your
organisation? Is employee turnover consistently acceptable
across all functions of your firm? Who leads engagement in
your organisation, Line Managers or Human Resources?
Employee Engagement has long since moved from being
about an annual survey to becoming a central talent
philosophy embraced and acted upon by all leaders in an
organisation. True employee engagement can deliver
extraordinary performance advantage but yet some employers
still get it wrong. The 2015 HRM Recruit Employee Engagement
Report brings insight into the primary engagement drivers of
over 600 professionals in the Luxembourg market. We look at
and weight the factors that have most impact and highlight
those, that for some functions, do not give the engagement
advantage one might have expected.
Knowledge is our differentiator at HRM Recruit and we hope
the information in this report helps your organisation gain its
own competitive edge.
In what areas do our survey respondents work?
• Almost half of our respondents, 41.9%, work in Funds.
• 24.1% people work in Law.
• 16.2% work in Banking.
• Other respondents came from the following areas:
insurance, accountancy and commercial organisations.
How much career experience do our survey respondent
have?
• 67.7% of respondents have 7+ years’ experience in their
current industry indicating that the workforce in
Luxembourg is made up of more experienced workers.
• Only 11% have less than 3 years’ experience.
• 24.2% have 10-15 years’ experience.
• 15.9% have 15+ years’ experience.
What salary ranges are our respondents on?
• 46% of respondents are on a current basic salary of
€90k or less.
• 22.5% of respondents are on a current basic salary of
€90-120k.
• 3.5% are on a current basic salary of €250k plus.
HRMRECRUITEMPLOYEEENGAGEMENTREPORT2015
01
(gender of our survey population)
172 females 449 males
CAREER LEVEL
28.5%
19.3%
19.3%
17.9%
10.6%
4.4%
Team Leader/Manager/Senior Associate
Senior Manager/Counsel
Head of Department
Associate/Officer/Advisor
Partner/Director
Early career stages
3. MOST
IMPORTANT
How long have our respondents been
with their current employer?
24.2% have been with their current
employer for less than one year.
What did our respondents list as the
most important elements in overall
employment terms?
• Unsurprisingly, basic salary was rated
as a key element in overall
employment terms with 605
respondents listing it as a critical
deciding factor. Only 7 people listed
it as unimportant to them.
• Health insurance and pension were
both also highlighted as important
factors by 307 and 308 people
respectively.
• 287 people stated that disability/
invalidity insurance was an important
factor to them.
• Mortgage subsidy was rated as
another important element by 217
people.
• Share options/ equity were not highly
rated with 310 respondents saying
these elements would not have a
positive or negative an impact on their
overall employment terms.
02
The most important
factors in overall
employment terms
are basic salary,
health insurance
and pension.
6+ years
4-6 years
2-4 years
1-2 years
Less than
1 year
4. NEW
ROLES
What are the most important factors to our respondents
when selecting a new role?
• The manager an employee reports in to was listed as a
critical factor by 520 people.
• Influence on decision making is another important factor
with 498 people listing it as a key consideration when
choosing a new role. This indicates that having a degree of
autonomy is an important factor for candidates in the
Luxembourg market.
• 489 people listed greater diversity in the role as another
deciding factor when selecting a new role, which suggests
that candidates in the Luxembourg market look for roles
that offer them a wide range of challenges.
• Daily responsibilities, role location and work life balance
were all listed as being less important factors when
choosing a new role.
• Opportunity to travel was listed as the overall least
important factor in choosing a new role with 434 people
saying it would not have an impact on their decision.
HRMRECRUITEMPLOYEEENGAGEMENTREPORT2015
03
When selecting a new role
factors such as the manager
you report into, influence on
decision making and greater
diversity in the role were all
listed as being important
factors to our respondents.
5. CAREER
PATHS
04
According to our respondents, what is
an appropriate length of time with an
employer before considering a move?
A majority of respondents, 51.2% feel 2-4
years is an appropriate length of time
with an employer before considering a
move while 33.3% people feel that 4-6
years is an appropriate length of time.
This indicates that candidates in the
Luxembourg market expect their careers
to be made up of numerous tenures with
different organisations.
Offering a structured
career path which is
supported by formal
career development
is fundamental to
staff retention in
Luxembourg.
What did our respondents rate as their
most important career development
related factors?
• Career progression/ clear career paths
was by far the most important career
development related factor with
80.5% choosing it.
• Commitment to training and
development was the second most
important career development factor
with 55.1% of respondents rating it.
• Company reputation and
organisational stability were also both
rated as important factors with 50.7%
and 48.8% respectively.
• Formal career planning and the size of
the company both scored lower with
19% and 20% respectively.
• Therefore, it can be inferred that
candidates in the Luxembourg market
look for positions that will offer them
career progression and the
opportunity to develop their skills in
organisations that are stable and have
a strong reputation.
6. BETTER
OPPORTUNITIES
HRMRECRUITEMPLOYEEENGAGEMENTREPORT2015
05
What are the most important factors to our
respondents when considering a new role?
567 people stated the company's ability to attract and
retain top talent is a key factor when considering a new
role.
This poses some questions for employers in the
Luxembourg market: What is your organisation doing to
attract top talent? Once the talent is in place how do you
ensure they stay with your organisation?
• 321 respondents listed company reputation as an
important factor with diversity of workforce and a team
oriented workforce also being rated highly with 312 and
310 respondents respectively.
How did our respondents rate their current manager?
• 310 respondents agreed that their manager is
knowledgeable in their area of expertise.
• 283 agree their manager is an open and honest
communicator while 74 people disagree with this
statement.
• Surprisingly, only 184 people would agree that their
manager supports their career development.
• 148 respondents were neutral on the statement
“They set realistic performance expectations”.
Despite current thinking, your
organisations approach to
environmental and social
matters is not of significant
importance when a candidate
is choosing a new role.
7. BOTTOM
LINE
06
If our respondents were to leave their
current employer, what % salary
increase would they expect in their
next position?
93.2% of
respondents said
they would not
accept a new role
unless they received
a pay rise.
20%+
20%
15%
10%
5%
0%
And finally... 74% of respondents
would recommend their current
organisation as an employer which
suggests that in general candidates in
Luxembourg are not leaving roles due to
issues with their organisation; they are
more likely to be moving on to pursue
better employment opportunities.
In what circumstances would our
respondents accept a pay decrease?
• 55.9% said they would not consider a
salary decrease under any
circumstances.
• 29.4% said they would consider a
salary decrease for good promotional
opportunities.
• A move to a larger organisation was
rated as the least likely reason why
someone would consider a salary
decrease in their next role at 6.2%.
