Dutch workers want a raise in 2019

BeFrank
3 Jan 2019

More than one out of five Dutch workers wants to ask their employer for a raise in 2019. This is revealed in the large-scale New Year’s survey commissioned by pension administrator BeFrank. Taking a course, training or educational programme is also a popular resolution, with just under 30 percent saying they plan to do this. Nearly a quarter of the respondents are aiming to achieve a better work-life balance in 2019.

It is striking that primarily men plan to ask for a salary increase. Approximately 30 percent of the male respondents are planning to pursue a raise in 2019, compared to only 13 percent of female respondents. Men also place the bar much higher when it comes to promotions. Just over 10 percent of the women are planning to move up the ladder in 2019, compared to 22 percent of the men.

Trends

The Dutch labour market is undergoing dynamic development. Trends such as flexibilisation, later retirement and a better work-life balance are continuing. BeFrank has charted how Dutch workers envision their careers in 2019. A healthier lifestyle at work (18 percent), less overtime (17 percent), doing fun activities with colleagues more often (14 percent) and finding a new job (11 percent) are also wishes for 2019. ‘Eight percent of Dutch workers combine multiple jobs and 11 percent are planning to do this in 2019. These are developments that we are closely tracking,’ says Commercial Director Jan Hein Rhebergen.

Flexible working hours

The survey has also shown that nearly half of the respondents see a 40-hour working week as being outdated. And the number of respondents that take a negative view of standard 9-to-5 working hours is even higher at 57 percent. But anyone who decides to work fewer hours this year, must take into account the consequences of this decision later in life. ‘You should in any case ask yourself whether you’ll continue to be financially fit after retirement. Whether you will be able to lead the life you want with all the related luxuries,’ says Rhebergen. ‘We advise Dutch workers who are going to change jobs or whose income will increase or decrease in 2019 to look closely at what their income will be later in life.’

Millennials are ambitious

The research clearly shows there is no lack of New Year’s resolutions. It also demonstrates that the youngest generation put forward their desires most forthrightly. A raise? Nearly 40(!) percent of employees under the age of 30 are planning to ask for a raise in 2019. Twenty-somethings are also very keen to take a course, training or educational programme. More than 40 percent of this group is planning to pursue some form of education in 2019. There are also differences between full-time and part-time workers. ‘For example, more than 25 percent of respondents with a full-time job are aiming for a higher salary. This percentage stands at only 13 percent for people with a part-time job,’ says Rhebergen.

Terms of employment dialogue

The survey reveals that the number of people who know exactly how much income they will have post-retirement is still very low. 47% of the respondents do, however, include this topic when discussing the terms of employment in connection with a new job. ‘When you zoom in on age, you see that this applies to all age groups, so young people also take their pension into consideration. We view this as a positive development. Pensions constitute one of the key terms of employment, which is often not valued highly enough. Pension schemes can vary considerably by employer. So it’s important to look closely at this when changing jobs. It is, after all, one of the most important financial matters you will encounter in your life.’

About the research

BeFrank commissioned Panelwizard to carry out the survey among 1,050 Dutch workers aged 25 and older in December 2018

About BeFrank
BeFrank has been active in the group pension market since 2011 and is the first pension premium institution (PPI) in the Netherlands. BeFrank offers an online pension, straightforward communications and innovative services. It is part of NN Group.

For more information contact Isabelle van Ast. E-mail: pers@befrank.nl, Tel: +31 (0)20 5621118.