Salary, benefits, management: in Luxembourg, retaining talent does not follow the same rules depending on the profile
- 65% of cross-border workers are satisfied with their employee benefits, compared with just 41% of residents
- 24% of cross-border workers are considering leaving their employer within the next 12 months, for reasons that are radically different from those of residents
This is one of the findings of the Edenred Luxembourg Employee Barometer, carried out by the research firm Into the Minds amongst 1,025 employees working in the Grand Duchy, including both residents and cross-border workers (from France, Belgium and Germany). In this job market, which is unique in Europe, these two groups coexist within the same companies, but their attitudes towards their employer, pay and benefits differ fundamentally. “In Luxembourg, retaining talent does not depend on a single factor. Understanding the specific expectations of each profile – whether resident or cross-border worker – is a key component of an HR policy that really makes a difference,” emphasises Patrick Langlois, Managing Director of Edenred Luxembourg.
Two profiles, two levels of satisfaction
Whilst 65% of cross-border workers say they are satisfied with their employee benefits, only 41% of residents share this view. Added to this is greater financial pressure on residents: 82% cite the cost of housing as their main budgetary constraint, and 72% point to the cost of living in general.
A warning sign, two different motivations for leaving
24% of cross-border workers are considering changing employers within the next 12 months, compared with 18.5% of residents. This is a striking figure, but one that requires a nuanced interpretation: the reasons for leaving differ depending on the individual’s profile. Cross-border workers leave for salary and career prospects; residents, for the quality of management and the working atmosphere. For employers, this means two distinct retention strategies: a competitive remuneration package and flexibility for cross-border workers, and managerial quality and day-to-day well-being for residents.
“The war for talent remains a reality in Luxembourg. What our data confirms is that employee benefits play a levelling role: they enable companies of all sizes to attract and retain staff, whether they are residents or cross-border workers. The challenge is to understand that the key factors vary depending on the employee profile and to adapt HR policy accordingly, and this is precisely what our solutions enable.” says Patrick Langlois, Managing Director of Edenred Luxembourg.
The Edenred Luxembourg Employee Barometer is a survey carried out by the research firm Into the Minds amongst 1,025 employees working in the Grand Duchy of Luxembourg, comprising residents (504) and cross-border workers (521) from France, Belgium and Germany.
RCA PR I Charlotte Ries I Tel. +32 489 32 71 00 I charlotte.ries@rcapr.be