How has the NetSuite ecosystem changed in the last five years?
The NetSuite ecosystem is forever changing and we’ve been working hard to provide our candidates with the best opportunities, suited to their needs.
Each year, we release our Careers and Hiring Guide, a publication that explores the key issues impacting NetSuite professionals and the things that matter the most to job seekers and employers in the NetSuite community. With these reports, we are able to dissect annual statistics and make comparisons to see how the ecosystem has changed based on a whole range of internal and external factors – from perception changes to equality, diversity and inclusion to global pandemics!
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Here are five ways the NetSuite ecosystem has changed in the last five years.
1. NetSuite Certifications – 83% of those with a certification believe they make you more marketable to employers.
NetSuite certifications are a valuable asset to your resume and are a great way to invest in your career development.
Back in 2017, 21% of our survey respondents stated that they held a NetSuite certification of any kind, whereas, in 2022, 31% now stated they do. Out of our survey respondents, 83% of those with a certification believe they make you more marketable to employers.
As well as this, 25% of our 2022 survey respondents said that they utilized their free time during lockdown to improve their NetSuite skills and advance their professional development with a certification.
We asked those who did not hold a NetSuite certification why this is and the most common response was employer funding as this is the key motivator for completing a certified course. With the digital skills gap and demand for talent at an all-time high, employers could look to use learning and development budgets for their employees as a tool to attract and retain the best NetSuite talent.
2. The Gender Pay Gap – 21% of our respondents believe men are paid more in their company.
The gender pay gap has been an important topic covered in recent years and many companies have made changes to try and stop this from occurring.
Social norms have affected the way certain jobs associate with specific genders and ultimately, this affects the salary too.
In 2017, 46% of female respondents believed that men were paid more in their company, whereas, in 2022, 21% said this was still the case. Another 16% of respondents said they ‘partially’ thought this was the case.
3. Employee Benefits – 28% of our respondents’ employee perks have changed post-pandemic.
Desired employee benefits have changed a lot post-pandemic and employees are looking for more practical perks rather than free amenities in the office.
Let’s take a look at the top employee benefits in 2017 and 2022:
|Laptop – 63%||Laptop – 77%|
|Full Health Insurance – 62%||Health/Medical Insurance – 75%|
|Full Dental Plan – 55%||Dental Plan – 62%|
|Bonus Pay – 54%||Vision/Optical Plan – 62%|
|Work From Home – 50%||401k/Retirement Savings Plan – 61%|
|Flexible Hours – 47%||Casual Dress Policy – 60%|
|401k Match – 41%||Bonus (Monthly or Biannually) – 56%|
|Life Insurance Coverage – 41%||Life Insurance – 49%|
|Vision Plan – 41%||Home Working – 46%|
|Free Cell Phone – 26%||4 Weeks+ Paid Time Off – 44%|
When asked about employee benefits, 28% of our respondents stated that their job perks had indeed changed since the Covid outbreak and 30% said that home-working was a brand-new perk for them.
The top spot throughout the years stays as a company laptop, with an increase of 14% over the last five years with health/medical insurance just behind. But it appears that a free cell phone and flexible hours were not in the top 10 at all in 2022.
Aside from this, there were still a lot of benefits that employees desired that weren’t an option for them. Some of these included an equipment allowance, a gym membership or discount, and home working.
4. Salary – 41% of people said a lack of salary increase is the number one reason when considering changing jobs.
In our latest survey, more than two-thirds (69%) of respondents were satisfied with their salary, yet, 13% were still dissatisfied.
In 2017, 48% of our survey respondents said they changed jobs due to a lack of salary increase and in 2022, 65% of people said when they changed jobs, their salary did in fact increase.
These statistics still show us that salary has a huge part to play in the acceptance of a job role and 41% said a lack of salary increase was their main reason when considering changing jobs as well as a lack of career progression. Employees will be more engaged and willing if they have something to aim for so creating a clear career pathway for them is a vital part of the solution.
5. Equality & Diversity – 53% of our respondents said their company now has a clear ED&I policy.
Many companies in today’s world have a specific ED&I team and when given the correct resources, can help set your company up for success. These teams enable your employees to feedback on the company policies and organize training and supply resources when necessary.
In our 2017 survey, 45% of respondents said that their company has a clear policy on supporting people of different gender identities and 72% agreed that their company was gender diverse.
In 2022, 53% of respondents stated that their company now has a clear ED&I policy.
Perhaps one of the biggest statistical changes was that of disability.
In 2017, 37% of respondents agreed that their workforce included individuals with a disability, and in 2022, this changed to 53%.
In total, 73% of professionals believe their employer champions equal rights but 11% believe more could be done.
The NetSuite ecosystem has definitely changed over the last five years and this is clear to see in our Careers and Hiring Guides. More attention is being given to ensuring that equality, diversity and inclusion are at the top of the agenda and NetSuite professionals are increasingly becoming more certified as the digital skills gap continues to grow. We’re also seeing NetSuite professionals valuing their time more in the types of perks and benefits they look for in a job offer – it’s less about free phones and more about health, wellbeing, and addressing the work-life balance.
We continue to analyze the changes in the ecosystem and work to ensure that all our candidates are suited to a NetSuite role that meets their specific career needs and personal skills and that businesses are matched with the right talent they need, when they need it.