Businesses continue to navigate economic uncertainty, rising tax burdens, and the constant pressure to maintain growth. But in the race to manage costs, it’s essential to regularly reassess strategies, especially when it comes to compensation and benefits. In an economic environment where margins are slim and in sectors such as public housing where budgets are fixed, competing with the private sector on salary alone may not be possible.
However, companies can remain attractive to talent by offering a comprehensive approach to compensation and benefits that looks further than base pay to encompass a broader total rewards strategy that resonates with employees’ values and needs.
Here, we’ll explore what professionals really value, using insights from Goodman Masson’s 2026 salary guides and industry reports, and how employers can strategically design compensation packages that attract and retain talent.
When most people think of compensation, they immediately focus on base salary. However, such a narrow view can limit your ability to attract mid-to-senior level talent, particularly in industries where salary alone might not be the main draw.
A more holistic approach to compensation and benefits is one that includes financial incentives such as base pay, bonuses, health insurance, retirement plans, stock options, as well as additional perks like wellness benefits, paid time off, and learning opportunities.
Together, these elements form a "total rewards strategy," that encompasses what employees really value today. This can be a powerful lever in your talent attraction and retention toolbox.
Research into satisfaction around compensation and benefits has found that just 12% of professionals are happy with their current package, and that 32% would leave their current role for better benefits. Here are five areas to focus on to improve your offering and attract exceptional talent:
Greater flexibility when it comes to where and how they work continues to be an important consideration for many professionals, particularly further along in their lives and careers when they need better balance between work and other responsibilities. We’ve found during our conversations with professionals that over 56% of those working in housing, for example, put flexible working hours at the top of their list, alongside benefits like hybrid and remote working options. Employees want to feel that their workplace accommodates their personal and professional lives, allowing them the freedom to balance work, family, and wellbeing.
However, employers are also seeking a return to the office in some capacity, as they recognise the benefits of in-person collaboration and team cohesion. We’ve found that a hybrid model, with employees spending 3–4 days a week in the office, strikes the right balance. This strategy not only meets the needs of professionals who want flexibility but also ensures that businesses can maintain productivity and team dynamics.
Financial wellbeing benefits have become increasingly important to professionals, especially in an era of financial uncertainty. Traditional perks such as enhanced pensions, stock options and performance related bonuses remain popular but benefits that focus on financial education, retirement planning, and savings support are also becoming highly valued.
Employers offering these benefits are not just seen as attractive but as forward-thinking, showing employees they are invested in their long-term financial health. When considering compensation and benefits, employers should prioritise offering robust financial wellbeing options to cater to a workforce increasingly concerned about their future financial security.
In addition to financial wellbeing, mental health and general wellbeing support have emerged as crucial components of a total rewards strategy. This is particularly true for high-pressure roles in finance, housing, technology and change management. Many professionals we speak to rank mental-health and wellbeing support as one of the most important benefits to them, meaning companies need to offer services like therapy, mental health days, and access to resources that prioritise both psychological and physical health.
Comprehensive wellness programs that promote a healthy work-life balance, office fitness programs, and even wellness challenges are now integral to how companies approach benefits packages. By offering wellbeing benefits, you not only ensure that your employees stay healthy but goes a long way to helping build a positive and productive company culture.
Learning and development (L&D) benefits have always been key to employee satisfaction, but in 2026, there is an increasing emphasis on upskilling in critical digital, tech, and AI skills. This is true across industries. Almost all professionals, whether they are working in M&A, housing development, finance transformation, or human resources, will be required to adapt to new technologies and update their capabilities.
Employers who offer funding for professional qualifications, access to training programs, and support for continued learning will have a significant edge in attracting top talent. The right compensation package should not only reward employees for their current contributions but also invest in their growth, preparing them for future success.
Career progression opportunities are among the most sought-after aspects of compensation and benefits. Mid-senior professionals, especially, seek roles where they can see a clear path toward advancement. The ability to move up within an organisation, access mentorship, and receive structured feedback on performance is crucial for retention.
A total rewards strategy that includes career development initiatives, whether that’s through structured career pathways, mentorship programs, or a transparent promotion process, will resonate deeply with professionals. Companies that prioritise career growth tend to retain their talent longer and foster a more engaged workforce.
As tax burdens rise and companies feel the financial pinch, it's important for employers to find a balance between offering competitive compensation and managing their bottom line. An ICAEW post-budget report reveals that 37% of finance and accounting organisations are planning to reduce headcount in 2026 in response to rising costs.
While this may result in more candidates available for lower-level roles, it also poses a significant challenge for attracting high-level, mid-senior talent. With fewer resources to offer attractive packages, employers must focus on creating compelling total rewards strategies that go beyond base pay to appeal to the professionals they need to innovate and lead in their sectors.
For insights into how Goodman Masson can help shape your compensation and benefits strategy, check out our latest salary guides. Whether you’re looking to enhance your current offerings or overhaul your approach to total compensation, Goodman Masson has the expertise to guide you through the process.
By embracing a total rewards strategy that includes flexible working, financial wellbeing, mental health support, career progression, and continuous learning, employers can offer competitive packages that attract and retain top talent.
Contact Goodman Masson to discuss how our team can support your recruitment.
Explore what professionals truly value in compensation and benefits in 2026, with insights into total rewards strategy, flexible working, and financial wellbeing benefits.
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