ATTRACTING
TALENT

2024

WHAT TODAY’S EMPLOYEES REALLY WANT

A collaborative study by:

CONTENTS
INHALT

Preface........................................................................................ 3
Executive summary.................................................................... 4
01 Introduction and description of the model.............................. 6
02 Random sampling methodology................................................703 	The state of the labor market 2024...........................................804 Ranking by age group ................................................................905 Ranking by occupation group ................................................. 1306 Gender-specific differences ..................................................... 16
07 Breakdown of the factors and comparison in practice........... 17
08 Conclusion and recommendations.......................................... 22
Sources/publishing details...................................................... 24

2

THE STEPSTONE GROUP & KIENBAUM STUDY 2024

PREFACE

Labor market participation in Germany is currently at an all-time high [1]. Yet despite thisrecord level, many companies find themselves
unable to meet their personnel requirements. In
fact, more than half of all companies currently
view worker shortages as a business risk [2].
Competition to obtain the best talent is therefore
fierce, and it is more important than ever that
recruiters understand their target groups, so thatthey can win their services and keep them forthe long term.

DR. TOBIAS ZIMMERMANNLABOR MARKET EXPERT AND HEAD OF INSIGHTSTHE STEPSTONE GROUP“We are currently facing the immediate effectsof labor shortages, a situation set to intensify in
its consequences as our societies begin toshrink in the future. Staying ahead in the competitive landscape necessitates an approachthat transcends the simplistic, one-size-fits-all
methodology. Now, more than ever, it is imperative for employers to effectively cater to thevaried needs present in different career phases.”

THE STEPSTONE GROUP & KIENBAUM STUDY 2024

Our collaborative study conducted by The
Stepstone Group and the Kienbaum Institute @ISM for Leadership & Transformation has a clear
objective: we want to identify the key factorsthat attract top talent and make them want tostay with a company. Our focus here is on­people‘s individual needs and requirements.
By approaching the issue from this perspective,
we are aiding the development of more effective
strategies for recruiting and retaining employees.

PROF. DR. WALTER JOCHMANNMANAGING DIRECTOR AND PARTNERKIENBAUM CONSULTANTS INTERNATIONAL GMBH­“In many industries, the people factor – theavailability of highly motivated, well-qualified
staff – is the key driver of success. This meansthat personnel risks, including insufficiently
attractive employers, unfilled positions,
unwanted terminations, internal demotivationand psychological insecurity are real danger
factors that result in high costs – and all of thesethings need to be managed. And avoided.”3

EXECUTIVE SUMMARY

Key findings>	Sooner rather than later: Not only is people’s readiness to change jobs
in today’s labor market high – people are also moving quickly.
>	One in two job seekers hopes to find a new job and start work by June2024.

>	As a result, the real question is: who will succeed in gaining theseworkers’ services and retaining them in the long term?
>	Additionally, worker shortages mean that 80% of recruiters are dealing
with lost productivity and increasingly competitive job markets.

>	It is high time that the needs and requirements of the various age andoccupation groups among job seekers be studied more closely, because
the things people are looking for in a job change over the course of theircareers and lifetimes: in the beginning, the spotlight is on self-realization,with social needs coming to the fore later in life.

>	Companies that want to come out on top in the competition for skilled
staff can set themselves apart by employing a customized approach that
addresses potential employees’ varying needs. And remember: subtle
nuances can make all the difference.

4

THE STEPSTONE GROUP & KIENBAUM STUDY 2024

EXECUTIVE SUMMARY!
About the study
This collaborative study by The Stepstone Group and Kienbaum
Institute @ ISM for Leadership & Transformation assesses the needs
and requirements of employees based on Maslow’s Hierarchy of
Needs.
What exactly do employees expect of their employers in 2024?
Are there differences between age groups or professions? And
what do companies need to look out for to be able to satisfy
individual needs?
A quantitative questionnaire was developed based on prior qualitative interviews and an exhaustive review of literature. More than
8,400 responses were collected between January 23, 2024 andFebruary 1, 2024 in the context of an online survey. The respondents
divided themselves into three groups: (1) Attractiveness – Job
seekers who want to change jobs in 2024, (2) Loyalty – Employees
who want to stay with their employer in 2024, and (3) Practice –Recruiters who assess the needs of job seekers.
The survey results were weighted according to the Mikrocensus,
a nationwide statistical survey of the German population, to ensurethat they are representative of the German workforce in terms ofboth age and gender.

THE STEPSTONE GROUP & KIENBAUM STUDY 20245

01 INTRODUCTION

Introduction and description of
the model
Our starting point is Maslow’s Hierarchy of Needs,
a well-known model that assigns human needs
and motivations to five levels of a pyramid:­physiological needs, safety and security needs,
love and belonging, esteem, and self-actualization.
Our aim was to apply these needs to the workplace and to determine the degree to which theseneeds differ between job seekers in 2024 (Group:
Attractiveness) and the needs of employees whowish to remain with their employers in 2024
(Group: Loyalty). In general, if employees’ needs
are met, this not only increases their satisfaction
with a potential job offer, but also their satis­
faction with their work and their productivity.

In contrast to the original model, we do not assess
the workplace solely as a rigid hierarchy in which
the fulfillment of the first level is the prerequisite
for the subsequent level. We instead view thelevels as categories to which various levels ofimportance are assigned. In doing so, we take into
account the complex and individual nature ofhuman needs. We used these theoretical constructs to develop a model in which each category of needs contains two workplace factors.
These factors were then surveyed in detail todecipher their concrete characteristics andinterpretations.

FIGURE 1 – THE FIVE NEEDS STUDIED AND THEIR TEN WORKPLACE FACTORS
Categoriesof needs
Workplacefactors>>

Physiological needs
Remuneration

Work­environment

Safety and security
needs
Pension andinsuranceJobsecurity

Love and belonging
Corporate
cultureTeam
cultureEsteemManagement

Feedback &reputation

Self-actualization
Career &development

Work-life
balance/
integration

Remuneration

Pension and insurance

Corporate culture

Management

Career and development> Benefits> Fixed salary> transparency &> Workplace health> Corporate social> Empathy> Individual esteem> Inspiration & motivation> Intellectual stimulation> Managing up> Role-model function> External development

Work-life balance/
integration

fairness> Individual

performance-relatedpay> New remuneration
models> Shares in thecompany> Company-based­performance-related
pay

promotion> Employee insurance
benefits> Corporate andprivate pensions> Occupational­reintegration
management> Private insurances> Capital accumulation
benefits& environmental
responsibility> Fairness &equal rights> Flat hierarchies> Inclusion & diversity> Culture of innovation> Performanceorientation> Knowledge &learning culture &acceptance of mistakes> Team spirit

Work environment

Job security

Team culture

Feedback and reputation> Well-equipped> Future skills> Lifelong learning> Stable employment> Defined roles> Empowerment> Feeling of community> Interdisciplinarity> Internationality> Teamwork> Transparent/open> Awards andfacilities & workplaces> Generous vacation
days> Clear overtime rules> Mobility offers> Location> Catering facilities

6

contracts (open-ended)> Company’s structural
stability> Systemic relevance> Diverse company
profilecommunication within
the team> Events & activities

certifications> Industry leadershipand success stories> Employer‘s image
and reputation> Public recognitionand standing as an
employee> Positive customer andpartner references> Positive, open
feedback culture> Reputation of theposition/team within
the company

opportunities> Internal job rotation &possibilities for
intracompany transfers> Career path &advancement> HR responsibility> Personal development> Purpose of theorganization> Autonomy> Meaningfulness of the job> Further development ofqualifications/skills/tools> Family-friendliness> Flexible work location(office/home)> Flexible working hours> Flexible hierarchies/
structures> Flexible work models(daily scrums)> Sabbaticals etc.
> Autonomous work
structure> “Workation”

THE STEPSTONE GROUP & KIENBAUM STUDY 2024

02 RANDOM SAMPLING METHODOLOGYFIGURE 5 – EMPLOYMENTFIGURE 2 – GROUPS WITHIN THE STUDY

69

Full-time employment
Job seeker

ATTRACTIVENESSLOYALTY

PRACTICE

Employees who

Employees who

Recruiters whowant to change

want to stay withare assessing

their employers

their employer

the needs ofin 2024in 2024

job seekers(N = 4702)(N = 2587)(N = 1204)

12

Nearly full-time
employment

9Part-time employment

7
2

Self-employed
N = 8493, percentage of respondents

0

20

40

60

80

60

80

60

80

N = 8493

FIGURE 3 – GENDER

FIGURE 6 – VOCATIONAL

Completed vocational training

41

Master/Diploma/Magister (eachequivalent to Master’s Degree)

25

Bachelor’s Degree

46%

54%

FemaleMale
N = 8493, percentage of respondents

2%

27%

9

Other

7

No degree/qualification

3

Doctorate2

N = 8493, percentage of respondents

020

Employee with special
qualifications

15 %

23%

20 years oldor younger
21 to 29 years old

40 to 49 years old
50 to 59 years old
60 years old or older

Master craftsperson/
technician

40

FIGURE 7 – POSITION

FIGURE 4 – AGE GROUPS
11%

13

22%

30 to 39 years old

N = 8493, percentage of respondents

THE STEPSTONE GROUP & KIENBAUM STUDY 2024

36

Employee without special
qualifications, auxiliary staff

19

Technician/craftsperson

17Management personnel(middle management)

11

Management personnel(lower management)

10

Management personnel(upper management)

4

Self-employed/freelancer

3

N = 8493, percentage of respondents

0

20

40

7

03 THE STATE OF THE LABOR MARKET 2024

FIGURE 10 – READINESS TO CHANGE

FIGURE 8 – LOST PRODUCTIVITY
20%

45%

Actively looking for a job

47%

Open to offers

8%

No readiness to change

N = 7290 employees

Employees know that they are in a good positionin the current labor market. In fact, 92% express ageneral readiness to change, with some actively
searching, and others passively.

80%
N = 1204 recruiters

Perceived lost productivity – at 80% – is higher
than ever before. According to recruiters, thisfigure was 76% in 2023 [3], and 60% in 2019 [4].

FIGURE 11 – BY WHEN ARE YOU LOOKING TO FIND
AND START A NEW JOB?

21%

24%

FIGURE 9 – COMPETITION FOR SKILLED STAFF
9%
100%

80%

80%
60%

55%

60%

14%

32%

N = 669740%
20%2020 [5]2023 [3]In January 2024

By Q4 2024

By Q2 2024

After 2024

Unsure2024

N = 1204 recruiters

Competition for skilled staff is increasing.
In 2024, four out of five recruiters say that they
have been experiencing increasing competition
for skilled staff for quite some time now.

Moving quickly in the first half of the year: One in
two people actively or passively looking for a newjob plans to have found one by June 2024.
8

THE STEPSTONE GROUP & KIENBAUM STUDY 2024

04 RANKING BY AGE GROUP

Individualists vs. team players: Selfactualization dominates among theunder 40s, while social aspects predominate in those over the age of 60
FIGURE 12 – JOB SEEKERS WILLING TO CHANGE (ATTRACTIVENESS)RANKING THE FIVE CATEGORIES OF NEEDS ACROSS EACH AGE GROUP
20 to 29

30 to 39

40 to 49

50 to 59

60 and over1.

Selfactualization

Selfactualization

Physiologicalneeds

Safety &security needs

Love &
belonging2.

Physiologicalneeds

Physiologicalneeds

Selfactualization

Love &
belonging

Safety &security needs

3.

Love &
belonging

Safety &security needs

Love &
belongingPhysiologicalneeds

Physiological
needs

4.

Safety &security needs

Love &
belonging

Safety &security needs

Selfactualization

Esteem5.

EsteemEsteemEsteemEsteemSelfactualization

FIGURE 13 – EMPLOYEES WANTING TO STAY (LOYALTY)RANKING THE FIVE CATEGORIES OF NEEDS ACROSS EACH AGE GROUP
20 to 29

30 to 39

40 to 49

50 to 59

60 and over1.

Selfactualization

Selfactualization

Physiologicalneeds

Safety &security needs

Safety &security needs

2.

Physiologicalneeds

Physiologicalneeds

Selfactualization

Physiologicalneeds

Love &
belonging

3.

Safety &security needs

Safety &security needs

Safety &security needs

Love &
belongingPhysiological
needs

4.

Love &
belonging

Love &
belonging

Love &
belonging

Selfactualization

Selfactualization

5.

EsteemEsteemEsteemEsteemEsteemGood news for employers: The things that
­employees really want do not appear to have anything to do with their motivation to stick with theiremployer or find a new one: there is no s­ ignificant
difference between the needs of those willingto change jobs and those who want to stay put.

THE STEPSTONE GROUP & KIENBAUM STUDY 2024

Instead, it appears that age plays a key role, something that can be put down to different career andlife phases. Whereas striving for self-actualization
is at the forefront for people up to and throughout their 30s, love/belonging and safety/security
needs become increasingly important as theygrow older.
9»The era of categorizing by generations has
passed-individuals‘ strengths and needs evolve
through the diverse stages of their lives. As westep into 2024, the hallmark of successful talentattraction strategies will be their alignment
with the realities of a working world capable ofaddressing the needs of individuals at various
points in their careers.«
Dr. Tobias Zimmermann
Labor Market Expert and Head of Insights, The Stepstone Group10

THE STEPSTONE GROUP & KIENBAUM STUDY 2024

04 RANKING BY AGE GROUP

An attractive public image also has
an impact within the firm
FIGURE 14 – JOB SEEKERS WILLING TO CHANGE (ATTRACTIVENESS):RANKING THE TEN WORKPLACE FACTORS ACROSS EACH AGE GROUP
20 bis 29

30 bis 39

40 bis 49

50 bis 59

Über 60

1.

Work-life balance

Work-life balance

Remuneration

Job security

Job security

2.

Remuneration

Remuneration

Job security

Remuneration

Corporate culture3.

Job security

Job security

Work-life balance

Corporate culture

Remuneration

4.

Career & development

Team culture

Team culture

Team culture

Team culture

5.

Team culture

Career & development

Corporate culture

Work-life balance

Work-life balance

6.

Corporate culture

Corporate culture

Work environment

Work environment

Management

7.

Work environment

Work environment

Management

Management

Work environment

8.

Management

Management

Career & development

Feedback & reputation

Feedback & reputation

9.

Pension & insurance

Pension & insurance

Feedback & reputation

Career & development

Pension & insurance

10.

Feedback & reputation

Feedback & reputation

Pension & insurance

Pension & insurance

Career & development

FIGURE 15 – EMPLOYEES WILLING TO STAY (LOYALTY):
RANKING THE TEN WORKPLACE FACTORS ACROSS EACH AGE GROUP
20 bis 29

30 bis 39

40 bis 49

50 bis 59

Über 60

1.

Work-life balance

Work-life balance

Job security

Job security

Job security

2.

Remuneration

Remuneration

Remuneration

Remuneration

Remuneration

3.

Job security

Job security

Work-life balance

Team culture

Team culture

4.

Team culture

Team culture

Team culture

Work-life balance

Team culture

5.

Career & development

Corporate culture

Corporate culture

Corporate culture

Work-life balance

6.

Work environment

Management

Management

Work environment

Work environment

7.

Corporate culture

Karriere & EntwicklungWork environment

Management

Feedback & reputation

8.

Management

Work environment

Career & development

Career & development

Management

9.

Pension & insurance

Feedback & reputation

Pension & insurance

Pension & insurance

Career & development

10.

Feedback & reputation

Pension & insurance

Feedback & reputation

Feedback & reputation

Pension & insurance

Physiological needs

Safety and security needs

In an increasingly complex working world, this concept is both relatively simple, and welcome: companies that can convincingly communicate theirstrengths both within and outside the company can
succeed twice over. Workplace factors are of similar importance for the “Loyalty” and “Attractiveness” groups. As is already clear from the needs,
the work-life balance factor is very important for
THE STEPSTONE GROUP & KIENBAUM STUDY 2024

Love and belonging

Esteem

Self-actualization

people when they are young and in mid-life, but
its importance gradually declines thereafter. The
situation is different for people with more professional experience, on the other hand, because job
security matters more as people grow older. As arule, however, it is the case for all age groups that
attractive remuneration and open-ended employment contracts are key “hygiene factors.”11

»

As labor markets grow ever tighter, retention
strategies and management quality are immensely­important. Every manager should know the basic
needs and motivations that are driving employee
expectations and career planning. Every HR­organization should develop effective solution
concepts for the factors that are key to employee
retention: renumeration models, flexible work,and team-oriented corporate culture.«
Prof. Dr. Walter Jochmann
Managing Director and Partner,
Kienbaum Consultants International GmbH12

THE STEPSTONE GROUP & KIENBAUM STUDY 2024

05 RANKING BY OCCUPATION GROUPSFirst things first: Occupation groups
with a focus on physiological needs
vs. self-actualization
FIGURE 16 – RANKING THE FIVE CATEGORIES OF NEEDS ACROSS OCCUPATIONAL GROUPSEngineeringand technicalprofessions

Legal affairs

Finance,controlling andinsurance

Trades/crafts

Sales andpurchasing

1.

Physiologicalneeds

Physiologicalneeds

Physiologicalneeds

Physiologicalneeds

Physiologicalneeds

Physiologicalneeds

Physiologicalneeds

Love &
belonging

2.

Selfactualization

Selfactualization

Selfactualization

Safety &security needs

Safety &security needs

Safety &security needs

Love &
belonging

Safety &security needs

3.

Safety &security needs

Love &
belonging

Love &
belonging

Love &
belonging

Love &
belonging

Selfactualization

Safety &security needs

Physiological
needs

4.

Love &
belonging

Safety &security needs

Safety &security needs

Selfactualization

Selfactualization

Love &
belonging

Selfactualization

Selfactualization

5.

EsteemEsteemEsteemEsteemEsteemEsteemEsteemEsteemNatural sciences– research andlaboratories

Design andarchitecture

IT

Marketing andcommunication

Physicians andpharmacists

Education andsocialHuman
resources

Executives andmanagers

1.

Selfactualization

Selfactualization

Selfactualization

Selfactualization

Selfactualization

Selfactualization

Selfactualization

Love &
belonging2.

Physiologicalneeds

Physiologicalneeds

Physiologicalneeds

Physiologicalneeds

Love &
belonging

Love &
belonging

Love &
belonging

Selfactualization

3.

Safety &security needs

Love &
belonging

Love &
belonging

Love &
belongingPhysiologicalneeds

Safety &security needs

Safety &security needs

Physiological
needs

4.

Love &
belonging

Safety &security needs

Safety &security needs

Safety &security needs

Safety &security needs

Physiologicalneeds

Physiologicalneeds

Esteem5.

EsteemEsteemEsteemEsteemEsteemEsteemEsteemSafety &security needs

The comparisons between occupation groups are
based on the aggregate data of people looking tochange and employees willing to stay in their current company. In contrast to the situation for age
groups, occupation group-based analysis reveals
a coherent picture in which two clearly definedclusters of occupation groups can be seen: one
group prioritizes “physiological needs” as their

THE STEPSTONE GROUP & KIENBAUM STUDY 2024

Purchasing,materials manage- Administrative
ment & logistics
and secretarial

Nursing,therapy andpersonal careoverarching priority, while the other groupascribes greater importance to “­ self-actualization.”
Esteem consistently comes fifth in the list of­priorities, with the exception of the “executives
and management” occupational group. The­positioning of the other needs varies according
to the occupation group.

13

05 RANKING BY OCCUPATION GROUPS

Money or flexibility? Remuneration
the priority in trades/crafts –work-life balance in IT?
FIGURE 17a – RANKING THE TEN WORKPLACE FACTORS ACROSS OCCUPATIONAL GROUPSEngineering& technicalprofessions

Legal affairs

Finance,controlling &insurance

Trades/crafts

Sales &
purchasing

Purchasing,materials management & logistics

1.

Job
security

Remuneration

Remuneration

RemunerationJob
securityJobsecurity

RemunerationJob
security

2.

Remuneration

Work-life
balanceWork-life
balanceJobsecurity

Remuneration

RemunerationJob
security

Remuneration

3.

Work-life
balanceJobsecurityJobsecurity

Work-life
balanceWork-life
balanceWork-life
balanceWork-life
balanceWork-life
balance4.

Corporate
cultureTeam culture

Team cultureWork
environment

Team culture

Corporate
cultureTeam culture

Team culture

5.

Team culture

Corporate
cultureCorporate
cultureCorporate
cultureCorporate
cultureTeam culture

Corporate
cultureCorporate
culture6.

Career &development

Management

Career &development

Teamkultur

Management

Management

Management

Management

7.

Work
environment

Feedback &ReputationWork
environment

Management

Work
environment

Career &development

Work
environmentWorkenvironment

8.

Management

Career &development

Management

Career &development

Career &development

Work
environment

Career &development

Career &development

9.

Feedback &reputationWork
environment

Feedback &reputation

Feedback &reputation

Pension &insurance

Pension &insurance

Feedback &reputation

Pension &insurance

10.

Pension &insurance

Pension &insurance

Pension &insurance

Pension &insurance

Feedback &reputation

Feedback &reputation

Pension &insurance

Feedback &reputation

Physiological needs

14

Safety and security needs

Love and belonging

Administrative& secretarial

EsteemNursing,therapy &personal careSelf-actualization

THE STEPSTONE GROUP & KIENBAUM STUDY 2024

05 RANKING BY OCCUPATION GROUPSFIGURE 17b – RANKING THE TEN WORKPLACE FACTORS ACROSS OCCUPATIONAL GROUPS
Natural sciences –research &laboratories

Design &architecture

IT

Marketing &communication

Physicians &pharmacists

Education &socialHuman
resources

Executives &managers

1.

Job
security

Work-life
balanceWork-life
balanceWork-life
balanceWork-life
balanceWork-life
balanceJobsecurity

Corporate
culture2.

Work-life
balanceRemuneration

Remuneration

Remuneration

RemunerationJob
security

Work-life
balance

Career &development

3.

RemunerationJob
securityJobsecurityJobsecurity

Team culture

Team culture

Remuneration

Team culture

4.

Team culture

Team culture

Team culture

Team cultureJob
security

Remuneration

Team culture

Remuneration

5.

Work
environment

Corporate
cultureCorporate
cultureCorporate
cultureCorporate
cultureCorporate
cultureCorporate
cultureWork-life
balance6.

Corporate
cultureCareer &development

Work
environment

Career &development

Career &development

Work
environment

Career &development

Management

7.

Career &development

Pension &insurance

Career &development

Management

Management

Career &development

ManagementJobsecurity

8.

Management

Work
environment

Management

Work
environmentWorkenvironment

Management

Work
environmentWorkenvironment

9.

Feedback &reputation

Management

Pension andinsurance

Feedback &reputation

Feedback &reputation

Feedback &reputation

Pension &insurance

Feedback &reputation

10.

Pension &insurance

Feedback &reputation

Feedback &reputation

Pension &insurance

Pension &insurance

Pension &insurance

Feedback &reputation

Pension &insurance

Physiological needs

Safety and security needs

A look at the various workplace factors reveals twoitems that clearly stand out from the others:
remuneration and work-life balance. Interestingly,
team culture also plays a surprisingly strong role inseveral occupation groups, where it lands in the
top three. While there are certainly differences

THE STEPSTONE GROUP & KIENBAUM STUDY 2024

Love and belonging

Esteem

Self-actualization

between occupation groups, the biggest variations and key influencing factors appear to lie
more in the age groups (pages 9 and 16) andgender-specific needs, as can be seen in thefollowing graphics.

15

06 GENDER-SPECIFIC DIFFERENCES

Gender stereotypes or different
needs? Men prefer money – women
prefer flexibility
FIGURE 18 – RANKING THE FIVE CATEGORIESOF NEEDS ACCORDING TO GENDER
Men

Women

1.

Physiologicalneeds

Selfactualization2.

Safety &security needs

3.

FIGURE 19 – RANKING THE TEN WORKPLACE
FACTORS ACCORDING TO GENDER
Men

Frauen1.

Remuneration

Work-life balance/
integration

Love &
belonging2.

Job
securityJobsecurity

Selfactualization

Physiological
needs

3.

Work-life balance/
integration

Remuneration

4.

Love &
belonging

Safety &security needs

4.

Team culture

Team culture

5.

EsteemEsteem5.

Corporate culture

Corporate culture

6.

Work environment

Management

7.

Career &development

Career &development

8.

Management

Work environment

9.

Feedback &reputation

Feedback &reputation

10.

Pension &insurance

Pension &insurance

Physiological needs
Safety and security needs
Love and belonging
Esteem
Self-actualization

These findings offer an indication of how traditional gender roles can influence professional
needs. Men tend to pursue their careers with thegoal of achieving financial stability, while womenoften choose a profession in which they can betterreconcile their personal lives and obligations. Menprioritize physiological and safety/security needs intheir professional lives, while women put the focus
on self-actualization and love and belonging. Interestingly, the desire for professional success andpersonal development are similar in both groups.

16

It should be noted that it is not possible to prove a
cause-and-effect relationship between role expectations and professional needs here. The challenge
for companies continues to lie in ensuring thatwomen and men have the same opportunities andpossibilities for pursuing their individual professional goals without being disadvantaged on
account of gender-specific prejudices or structuralbarriers.

THE STEPSTONE GROUP & KIENBAUM STUDY 2024

07 BREAKDOWN OF THE FACTORS AND COMPARISON IN PRACTICE

Physiological needs
Numerous studies have been conducted to study
attractiveness factors like remuneration, work-lifebalance, etc. Yet despite this, it is often not clear
exactly what people are looking for when they
select particular factors. That is why we decided
to ask employees what their specific priorities
were. The goal of our study is to obtain the clear-

est possible picture of what defines an attractive
job today. Differences become particularly clear
when concrete, actual practice in companies iscompared with people‘s desires, and companies
can learn from these to create more customized
offerings.

FIGURE 20 – REMUNERATION

58

42

Benefits

47

36

Compensationtransparency &fairness

50
54

29

Individual
performance-relatedpay

23

New remuneration
models13Company-based
performance-related
pay

29

48
35
37
37
5

52

23
16
22

Attractiveness18

Shares in thecompany
Percentage of respondents

Remuneration

41

Fixed salary

Loyalty9140

Practice

20

40

60

80

100

Remuneration is remuneration. Or is it? Whereas
the level of their fixed salary clearly stands out
as a factor for people who want to remain with
their c­ urrent employer, fixed salary levels are not
the determining factor for those willing to makea change. The people who are looking to change
employers in 2024 are also very much interested
in individual, performance-based pay, benefits andnew remuneration models. Remuneration is – andwill remain – a key attractiveness factor, but itshould increasingly be understood as a multidimensional aspect. Whereas companies are generally
correct in their assessments of job- seekers’ preferences, they are still underestimating the appeal of
new r­ emuneration models and individual, performance-based pay to some degree.

FIGURE 21 – WORK ENVIRONMENT

Location

Clear overtime rules

44
33
29

Mobility offers
Well-equippedfacilities &workplaces

36
36
40

Generous
vacation days

39
27 5
32

Percentage of respondents

When it comes to the work environment, there ishardly any difference between satisfied e­ mployees
who want to stay and those who are willing tochange jobs. Despite hybrid work models, anattractive location continues to be a significant
attractiveness factor. Overtime regulations andwell-equipped buildings and workplaces are also
important.

55
53

50

52
Attractiveness

26
25
23

Catering
facilities
020Work environment

81

59
55

Loyalty
Practice

40

60

80

THE STEPSTONE GROUP & KIENBAUM STUDIE 2024

100

Companies tend to overestimate the importanceof mobility offers like company bicycles andpublic transport subscriptions in attracting new
employees.

17

07 BREAKDOWN OF THE FACTORS AND COMPARISON IN PRACTICE

Safety and security needs
FIGURE 22 – PENSION AND INSURANCE
Corporate &private pensions

53

Workplace healthpromotion

37

Capital accumulation
benefits

35

Employee insurance
benefits

21

Occupational
reintegration
management

Percentage of respondents

62

Bankruptcy in old age? No thanks. People careabout having enough money for their retirement,
and people willing to change jobs particularly
value employers who offer such important things
as company and private pensions. While healthpromotion programs are in second place, recruiters may well be overestimating their importanceas attractiveness factors.

44
49

43
41

36
31

21
25 5
16

Private insurances

12

Pension and insurance

71

52
Attractiveness

22

Loyalty

20

Practice

0

20

40

60

80

100

FIGURE 23 – JOB SECURITY
Stable employment
contracts(open-ended)

70
70
50
44
51

Company’s
structural stability
Lifelong
learning

33

21

Future Skills

20

Systemic relevance

20

18

49
48

35
30
52

335

Attractiveness

18
16
15

Diversecompany profile
Percentage of respondents

Job security

76

0

Loyalty
Practice

20

40

60

80

The transformation of the working world can beseen in the topic of security. Even today,
conventional, stable employment contracts andthe structural stability of a company continue
to dominate. Lifelong learning has caught up
with the latter both in terms of the company andwith regard to attracting new employees. With
rapidly changing job profiles and market requirements, the availability of training and professional­development programs is an ever more important factor for companies’ competitiveness andemployees’ employability.

100

THE STEPSTONE GROUP & KIENBAUM STUDY 2024

07 BREAKDOWN OF THE FACTORS AND COMPARISON IN PRACTICE

Love and belonging
FIGURE 24 – CORPORATE CULTURE
Fairness &equal rights

52

An attractive corporate culture cannot be reduced
to a single aspect or factor. In particular, it isdistinguished by fairness, flat hierarchies and thepromotion of a knowledge and learning culturethat includes dealing openly with mistakes. One
aspect that is especially fascinating is that equal
opportunity plays a major role in attracting new
employees.

49

Flat hierarchies

42
44

Knowledge &­learning culture &acceptance of­mistakes

49

32

41

35

Team spirit

41
39

Culture of innovation

21

Corporate social& environmental
responsibility

17
16
21

Inclusionand diversity

13
15
14

Performanceorientation

14
13
14

Percentage of respondents

Corporate culture

56

34

0

32
5
31

52

A majority of companies appear to be focusing on
the right areas in their corporate culture and are
dealing appropriately with complexity.

AttractivenessLoyalty
Practice

20

40

60

80

100

FIGURE 25 – TEAM CULTURE
Transparent/open
communication
within the team

44

Teamwork

40

Transparent and open team communication,
teamwork and a feeling of community arecharacteristics of a strong team culture.

54

49
48

49
40
45

Feeling of community
Empowerment

33
32
32

Defined roles

36
26 5
32

Companies are generally also setting the rightpriorities at the team level. Nor are theyneglecting to empower their employees or
failing to define clear roles.
52

19
20
22

Events and activities
Interdisciplinarity

15
17
16

Internationality

13
15
14

Percentage of respondents

Team culture

59

0AttractivenessLoyalty
Practice

20

40

60

THE STEPSTONE GROUP & KIENBAUM STUDY 2024

80

100
19

07 BREAKDOWN OF THE FACTORS AND COMPARISON IN PRACTICE

Esteem
FIGURE 26 – MANAGEMENT

Individual esteem

59

Empathy51

Role-model function

61
62

56

29

Inspiration &motivation

18Intellectual
stimulation

28
22 5
23

Percentage of respondents

33
52
Attractiveness

19
25
17
0

Our respondents agree that respect for theindividual and empathy are hallmarks of goodmanagement. Managing up – the ability of
employees to interact effectively with theirsuperiors and to understand their expectations –is one of the only aspects that is valued more
highly by current employees than it is by job
seekers.

66

60

38

Managing up

Management

70

Loyalty
Practice

20

40

60

80

100

FIGURE 27 – FEEDBACK AND REPUTATION
Positive, open
feedback culture
Positive customer& partnerreferences

35
35

Employer‘s image& reputation

29

Public recognition& standing
as an employee

23

Reputation of theposition/teamwithin the company
14

Awards &certifications

17
13
16

Percentage of respondents

20

57

35
44

34
32
52

23
19

0

In comparison to other workplace factors, a company‘s references and reputation play a relatively
small role for both people willing to change andemployees who want to stay. For people who arewilling to change, it is often the inner values thatmatter most: a majority stresses the importance ofa positive and open feedback culture. Employees
highlight industry leadership and success stories
as factors that foster loyalty to a company.

43

31
25 5
29

Industry leadership& success stories

Feedback and reputation

61

39

AttractivenessLoyalty
Practice

20

40

60

80

100

THE STEPSTONE GROUP & KIENBAUM STUDY 2024

07 BREAKDOWN OF THE FACTORS AND COMPARISON IN PRACTICE

Self-actualization
FIGURE 28 – CAREER AND DEVELOPMENT
52

Autonomy

49

Personal
development

33

Ready to take charge of their own destiny?
Personal autonomy is not only an important
attractiveness factor for job seekers – it is evenmore important for a company‘s ability to retain
its personnel. This is followed by two other important attractiveness factors – meaningfulness of theposition and personal development possibilities.

42
42

40
36
38

Meaningfulnessof the job
Further developmentof qualifications/skills/tools

27
29

Career path
& advancement
10

36

31

19

External development
opportunities

52

539

19
18

Purpose of
the organization

14
12
15

Internal job rotation &possibilities for intracompany transfers

16
15
11

HR responsibility

14
10
11

Percentage of respondents

Career and development
61

AttractivenessLoyalty
Practice

0

20

40

60

80

It is worth noting that job seekers and loyal
employees both place greater emphasis on thedevelopment of their skills and qualifications thanthey do on clear career paths. Companies’ focus,
on the other hand, is exactly reversed. This is aperfect fit for autonomy: “I know what’s best forme and I have more trust in my own abilities than I
do in structures.” In this way, respondents demonstrated a very progressive understanding of careerdevelopment.

100

FIGURE 29 – WORK-LIFE BALANCE/INTEGRATION
52

Autonomy

49

Flexibility is the shared focus of companies andemployees who are willing to change, and it isalso a key factor for employee retention. Loyalty
to a current employer is strongly dependent on
the employee‘s autonomy in determining theirwork structure. This is yet another clear sign of thehigh level of importance of both autonomy andflexibility.

67
63
63

Flexible working hours

59
56
61

Flexible work location(office/home)36

Autonomous work
structure

30

Family-friendliness

19

Flexible hierarchies/
structures

17

Flexible work models(daily scrums)

16
8“Workation”

12
6
11
0

43

26
52

539
30
26

23
29

16

Sabbaticals etc.

Percentage of respondents

Work-life balance/integration
61

14

AttractivenessLoyalty
Practice

20

40

60

THE STEPSTONE GROUP & KIENBAUM STUDY 2024

80

100
21

08 CONCLUSION

Pressure is increasing! Despite record levels of employment opportunities,
there is still a shortage of personnel – and this is occurring even before theimpending demographic upheavals take place.
People as a competitive factor. For companies, a custom offering for both
future staff (talent attraction) and existing employees will become a key
element of corporate strategy.
Priorities change. The needs of employees change over the course of theirlives. Whereas self-actualization is especially important for young and middleaged employees, security and social aspects take precedence as people
grow older.
Needs are individual. Professional needs vary among occupation groups due
to factors like gender ratio, average age and workplace culture. In the future,much more should be done to tailor workplace offerings to the individual, inorder to do justice to their specific needs.
Time is money. The fundamental need for an attractive salary is the mostimportant constant factor and will generally remain so. But it is importantto remember that a good salary alone is far from sufficient today.
It’s the mix that matters. Employers who can offer both stability (e.g.
open-ended contracts, location) and scope for individual development(autonomy, flexible working hours) will come out on top.
Employee experience as a loyalty factor. Feelings are more important thanwords. Although it can be difficult to communicate personal autonomy, afeeling of community, shared joint successes and the meaningfulness of thework to job seekers, these factors are of the utmost importance to loyal
employees.
Going beyond buzzwords. Companies that know exactly what people reallymean when they talk about work-life balance, corporate culture, etc., cangain an advantage by customizing their offerings in these areas.

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THE STEPSTONE GROUP & KIENBAUM STUDY 2024

08 RECOMMENDATIONS

Speed matters. People who want to change jobs, want to do so quickly.
Efficient and smart recruitment processes do more than simply lighten theburden for recruiters – they also create a competitive advantage thatsignificantly increases the success of all other measures.
Moving away from the scatter-shot approach. In times of economic uncertainty and personnel shortages, it is more important than ever before thatcompanies’ human resources measures are targeted and efficient, because
the labor market is growing ever more complex. The trend is towards moreindividual agreements between employers and employees. Companies thatcan strategically leverage these developments for their own benefit will
enjoy a strong position in the labor market over the long term.
Get to know the target groups. People have different professional needs
in different phases of their lives and careers. Targeted human resources
measures that account for the age structure and professional phases of theworkforce have the best chance of success. On average, younger people are
more focused on career development and remuneration, while the middleaged care more about work-life balance and remuneration. For older people,
corporate and team culture and security are paramount.
Turning employees into ambassadors. Companies score points with theiremployees by creating a positive employee experience that promotes auto­
nomy, a feeling of community and shared successes. An environment likethis is appreciated by employees, and they may not only remain with thecompany, but also serve as its ambassadors.
Attracting those willing to change. Never before has there been such an
opportunity to leverage strong attractiveness factors to secure the most im­
portant competitive factor of all for a company: people. Companies that can
expressly communicate the strengths of their location, stability and pension
plans – as well as their USPs in terms of positive and respectful working environments – will have the best chance to prosper in the labor markets of the future.
Adaptability is also a success factor in recruitment. With the ever more
rapid transformation of the working world and increasingly volatile contextual
factors, people’s ideas of an attractive job are also changing. Companies thatkeep a close eye on trends and continuously develop their strategies will beable to create attractive jobs even more quickly.

THE STEPSTONE GROUP & KIENBAUM STUDY 2024

23

SOURCES[1] German Federal Statistics Office (2024). Press release no. 059 from February 16, 2024.
https://www.destatis.de/DE/Presse/Pressemitteilungen/2024/02/PD24_059_13321.html[2] Association of German Chambers of Industry and Commerce (DIHK) (2023).
DIHK Economic Survey, Autumn 2023.
https://www.dihk.de/resource/blob/105338/76857c4085affce0c37847c93009e153/statistischeranhang-dihk-konjunkturumfrage-herbst-2023-data.pdf[3] The Stepstone Group (2023). Puls Check Arbeitsmarkt. (Taking the pulse of the labor market)
https://www.thestepstonegroup.com/de/press/press-releases/druck-durch-arbeiterlosigkeitbleibt-dreiviertel-der-unternehmen-beklagen-produktivitatsverluste/[4] The Stepstone Group (2020). Stepstone report on employer attractiveness.
https://www.stepstone.de/e-recruiting/arbeitgeberattraktivitat/[5] The Stepstone Group (2020). Job study.
https://www.stepstone.de/e-recruiting/rethink-tag/jobstudie/

Image credits Page 3: © Kienbaum and © The Stepstone Group,
page 10: © The Stepstone Group, page 12: © Kienbaum
Design: Agentur vierviertel

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THE STEPSTONE GROUP & KIENBAUM STUDY 2024

PUBLISHING DETAILS

Published by
Dr. Tobias Zimmermann
Dr. Susan Gritzka
Franziska Eckhardt

Prof. Dr. Walter Jochmann
Lukas M. Fastenroth
Hannah WinterLea Marie Dreifert

The Stepstone Group
Völklinger Straße 140219 Düsseldorf
Germany
global-insights@stepstone.com
www.thestepstonegroup.com/en/insights

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for Leadership & Transformation GmbH
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Germany
info@kienbauminstitut-ism.de
www.kienbaum.com

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