Companies would want to get the maximum return on investment out of each hire. And why not, having a workforce that is actively driven and prolific will exceed any hurdle in a business.
You know that, and we know that. But what do the survey statistics tell us?
Notably, when a recent survey reported that 52.36% of the employees are motivated at their workplace, not only more productive, these employees regularly aid higher-quality outcomes. It even saves your corporation the time and money it would take to hire and nurture their replacements.
On the other hand, a lack of motivation at the workplace may flock off your employees as the most majority (60.37%) of the people are ready to quit their jobs if and when they find better opportunities, suggests the same report. It comes as a natural choice for each employee who is not satisfied with their current job.
GoodFirms surveyed 750+ employed from around the world to better understand the state of employees in this fast-paced and satisfaction-driven work culture. The survey dug various aspects of employee engagement and satisfaction such as values & perks a job-seekers considers, company practices & ethics an employee want, while reasons that prompt them to quit a job.
The survey asked the participants to choose any five of the entities from the list that may motivate them to look out for another job.
When better opportunities can pull-off talent from your company, a serious dislike for work may incite a feeling of cut-off among employees. As many as 47.24% of the surveyed said so when they choose "Didn't enjoy work" as their second most common reason.
Other reasons include low salary (42.78%), work-life imbalance (39.37%), and lack of respect, recognition & rewards (39.11%) among the top 5.
The research aims at crafting an understanding of the best HR policies and strategies that can aid a business to thrive on their most valuable asset.
Read more insightful stats regarding the Employee Engagement Survey: Workplace Values, Perks, Satisfaction, & More from the comprehensive survey research.
Here is the extracted overview of the survey research.
Stats and Highlights from the Employee Engagement Survey:
- Across the globe, 56.68% of workers are satisfied with their current job, while 30.15% are not. The remaining 13.17% are not sure.
- While 61.52% of the employees know what they are doing at work.
- Among the most regarded workplace values are Good Salary (92.96%), Growth Opportunities (91.92%), and Friendly Boss/Colleagues (90.00%).
- Gen Z and Millenials show a significant difference while considering workplace values; Gen Z value interest bound work and innovative company, while Millenials choose fair treatment at work and job security.
- Two-third (66.93%) workers are uber-ready to shelve off 10% of their pay for skill development opportunities at work.
- The majority of people expect at least 3 employee benefits: Annual Raise (81.10%), 5 working days (75.33%), and Flexible Timings (74.54%).
- While 60.38% of the employees feel considerate from colleagues, while only 48.98% feel the same from bosses.
- As high as 67.19% of the participants feel workplace bullying and harassment; the reasons are as varied as they are.
- 19.92% of the employees who were bullied choose to remain silent.
- Most generation cohorts list better opportunities as a reason to quit jobs, but other reasons vary individually.
Conclusion:
For businesses, creating a genuine employee experience is a big deal. Poor HR policies and decisions can result in employee walkouts, and thriving businesses might end up suffering talent losses. Thus to ensure a coveted return-on-investment for hiring a candidate, managers should rely on highly-efficient employee engagement tactics with a pinch of personal touch.
For many, setting up an HR cell is not only tedious but economically inviable. While big corporates often struggle to sync their policies with time or manage their employees efficiently. For such businesses, GoodFirms offers a list of top HR service firms, that can be outsourced or consulted for anything related to human resources.
