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Title versus pay: What workers want
By Susan Ricker, CareerBuilder Writer
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There are often more perks to a job than a paycheck, as employers try to retain their top workers and entice new prospects. From offices to flexible schedules to company cars, employees are enjoying more job incentives than ever, though they still have workplace wish lists.
A new CareerBuilder survey asked more than 3,900 full-time workers nationwide which job factors are most important in making them feel satisfied with their job and workplace. While the recovering economy may give the impression that workers can't be too choosy, employers don't necessarily share this view. Thirty-two percent of employers report that top performers left their organization in 2012, and 39 percent are concerned that they'll lose top employees in 2013. While most workers (66 percent) say they are generally satisfied with their job, 25 percent say they will change jobs in 2013 or 2014.
What can employers do to retain their best workers, and what can employees request to create a more enjoyable workplace? The top survey answers focus on pay, onsite privileges and creating more job-related opportunities.
Title versus salary
Workers may be more interested in promotions that include a bump in pay than those that offer a new title. Though upward mobility is a key factor in job satisfaction and employee retention, 88 percent of workers surveyed say that their pay matters more than their title, and 55 percent say having a certain title isn't important.
Other factors that outrank job title in what is most important to workers are:
- Flexible schedule -- 59 percent
- Being able to make a difference -- 48 percent
- Challenging work -- 35 percent
- Ability to work from home -- 33 percent
- Academic reimbursement -- 18 percent
- Having an office -- 17 percent
- Company car -- 14 percent
Dream job benefits
Who hasn't wished for a little more comfort on the job? Onsite luxuries are just a dream for some, but these perks may be what keep workers happy at their current company. Twenty-six percent of workers say that providing special perks is an effective way to improve employee retention.
When asked to identify one perk that would make their workplace more satisfying, some of the highest-scoring answers include early dismissals, convenient gym access and casual dress:
- Half-day Fridays -- 40 percent
- Onsite fitness center -- 20 percent
- Ability to wear jeans -- 18 percent
- Daily catered lunches -- 17 percent
- Massages -- 16 percent
- Nap room -- 12 percent
- Rides to and from work -- 12 percent
- Snack cart that comes around the office -- 8 percent
- Private restroom -- 7 percent
- Onsite day care -- 6 percent
Perks to prevent employee turnover
When it comes to keeping workers, sometimes the perks offered pay for themselves. Seventy percent of workers report that increasing pay is the best way to boost employee retention, and 58 percent of workers point to better benefits.
Other actions that workers say employers should take to reduce voluntary turnover include:
- Provide flexible schedules -- 51 percent
- Increase employee recognition (awards, cash prizes, company trips) -- 50 percent
- Ask employees what they want and put feedback into action -- 48 percent
- Increase training and learning opportunities -- 35 percent
- Hire additional workers to ease workloads -- 22 percent
- Provide academic reimbursement -- 22 percent
- Carve out specific career paths and promote more -- 21 percent
- Institute a more casual dress code -- 14 percent
Though job-perk wish lists may clue employers in to what makes workers happy, what can a boss realistically do to create a great workplace and satisfied workers?
"What determines job satisfaction is not a one-size-fits-all [solution] but flexibility, recognition, the ability to make a difference and, yes, even special perks can go a long way," said Rosemary Haefner, vice president of human resources at CareerBuilder. "Being compensated well will always be a top consideration, but we're seeing work-life balance, telecommuting options and learning opportunities outweigh other job factors when an employee decides whether to stay with an organization."
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Susan Ricker is a writer and blogger for CareerBuilder.com and its job blog, The Work Buzz. She researches and writes about job search strategy, career management, hiring trends and workplace issues.Copyright 2013 CareerBuilder. All rights reserved. The information contained in this article may not be published, broadcast or otherwise distributed without prior written authority. - Share
The following is an abridged version of an article originally published on the You work your butt off all year long, implement (successfully) 5 elements of a Talent Management System (or feel free to pick your own project), your LMS is now extremely active and because of your efforts, training costs are down 40%, test scores rise 18 points and training time is reduced by 20 hours for your most critical program. You’re an unqualified super-star, have been rated as a HiPo and receive the top performance rating of OUTSTANDING earning you an amazing (and in our current reality improbable) 10% merit increase (more likely 5-6% with a really great company). But what do you think to yourself? Do you think…. “wow, 10%!!! That is so much more than I deserve and I will work even harder next year to do that again!” Or, perhaps the more realistic thought of, “darn straight Skippy! I worked my tail off all year long and I absolutely DESERVE that 10% increase!” I’m going to go out on a limb and say the latter.
Now let’s change the scenario. Same hard work, same impact, but instead of the well-deserved 10% you instead receive a 4% increase much like that of your colleagues. Due to the economy, planned merit budgets or just internal policies, top performers can only receive that much of an increase (I’m guessing most of you are nodding in agreement here). So, NOW what do you think? I’ll let you know what most rational people think; “I worked my @$$ off, saved the company money, did more than my peers and I’m ONLY getting a 4% increase? There is NO way in the world I am going to do that again!!!”
So, to recap, scenario 1 = I DESERVE the increase. Scenario 2 = I am now DE-Motivated by the increase. In neither scenario did the money MOTIVATE us to do anything positive. In fact, if you want to argue that money is a motivator, I would counter that it only motivated us to do less next year.
We can also argue if it is even our job as leaders to motivate others or if employees should be self-motivated. I won’t pick that fight today but I will say I do believe it is our responsibility to ensure that we do not de-motivate employees by our actions. But how can we provide an atmosphere that is motivating?
- Clear organization vision & values
- Well-articulated responsibilities
- Clear goals aligned with the business
- Development opportunities
- Access to resources and information
- Collaboration
- Relevant, timely and candid communication
- Insert many many more here:
So the next time someone asks about how to motivate employees, ask them to instead consider what de-motivates employees. I think you’ll find it easier to address the numerous obstacles we can control than the individualized preferences of an increasingly diverse workforce. Because in the end, what really motivates me may be very different than what motivates you…let’s talk about removing obstacles than simply trying to throw money at the issue.
Written by:
Keith Meyerson
Keith
is a Learning, Talent and Organizational Development Executive who has
worked for such iconic brands as Polo Ralph Lauren, Tiffany & Co.,
and Neiman Marcus. He is a frequent contributor to industry magazines
and a noted speaker on the use of social collaboration as part of an
integrated talent management strategy. He has experienced several
Learning and Talent Management System implementations and brings his
unique perspective as a former user of these systems.