Ask most people what would make them stay in a job, and pay is usually the first answer. New research suggests that answer is only part of the picture.
What the research shows
The 2026 Best Places to Work Employee Experience Survey, which surveyed more than 1,000 workers, found that 74.6% ranked people and culture as their top workplace priority, ahead of compensation at 35.4%. Work-life balance and flexibility followed at 62%, with trust in leadership at 43.6%.
Recruitment data points the same way. In Randstad’s latest employer brand research, Green Cross Health took first place as the country’s most attractive employer. It was strongly associated with strong management and leadership, equal opportunities, and competitive salaries and benefits. Randstad noted that in a softer labour market, the strongest brands are adapting to change while keeping people at the centre of the workplace.
This isn’t only about keeping people happy. Research from MIT’s Centre for Information Systems Research found that companies in the top quartile for employee experience were twice as innovative as those in the bottom quartile and had significantly higher customer satisfaction. A follow-up analysis of the same research reported that these companies were also approximately 25% more profitable. The researchers defined a great employee experience as low work complexity combined with strong everyday norms for collaboration, creativity and empowerment.
Here’s what the three priorities that ranked above pay mean in practice.
1. People and culture
Culture is the everyday reality of work: how people treat each other, how decisions are made and whether people feel safe to speak up.
It can’t be bought, but it can be shaped. Leaders set the tone through what they reward, what they tolerate and how they respond when things go wrong.
2. Work-life balance and flexibility
Flexibility is no longer seen as a perk. For many employees, it’s an expectation, and it ranked as the second most important factor in the survey.
That doesn’t mean every role can be fully flexible. It does mean being clear about what’s possible, applying it fairly and trusting people to manage their time.
3. Trust in leadership
People want to understand where the business is heading and feel confident in the people steering it.
Trust grows through consistent, honest communication. Sharing the reasoning behind decisions, even difficult ones, helps people feel informed rather than managed.
So where do pay and benefits fit?
Pay still matters. Best Places to Work chief executive Julie Gill noted that remuneration is only one part of what people value at work. Competitive pay is the foundation, but it rarely sets an employer apart on its own.
Wellbeing works in a similar way. Gill observed that the strongest approaches went beyond standalone wellbeing initiatives, showing up in everyday decisions about workload, leadership, flexibility and how people are supported when life gets difficult.
Benefits sit neatly within that thinking. When they help with everyday costs, they’re a practical signal that an employer cares about people’s lives outside work.
Why retention deserves attention now
Replacing staff is expensive. Earlier this year, people2people’s Market Report found 37% of New Zealand employers were hiring to replace departing staff. Each departure brings recruitment and onboarding costs, as well as lost knowledge.
Investing in employee experience is one of the most direct ways to reduce that churn.
Putting it into practice
Start by asking your people what matters to them. Engagement surveys, stay interviews and informal conversations will tell you more than any national dataset.
Then look for gaps between what you offer and what they value. Often the most meaningful changes are small, consistent and cost little.
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