Let’s face it, not everyone is in love with their job.
In fact, less than 25 percent of all employees equate their current position to their ideal job. Though this might come as little surprise, companies should take note if they wish to retain top talent.
Not convinced? Consider this: More than one-third of employees browse for jobs and are open to the idea interviewing if the right opportunity arose.
In a recent survey, Addison Group shared insights into the minds of employees, offering companies a better understand ing of how to create a happier workplace.
Here are some of their findings:
Employees want higher salaries. Like it or not, just shy of 50 percent of all employees would leave their current job simply because they are not making enough money. Employees feeling undercompensated will seek out new opportunities that promise higher salaries. As a result, companies should strive to be competitive with salaries in their market if they wish to retain top talent. It’s also important to manage expectations with employees to ensure they understand an organization’s salaries are comparable to the rest of the market.
Employees are hungry to learn. More than 40 percent of all workers note their ideal company provides them with internal training opportunities. For example, take today’s big tech companies – they go beyond just teaching employees how to be experts in their fields, providing courses such as “Innovation 101” and “How to Have Better Career Conversations,” to enhance their overall professional skillset. Invest in your employees and your company will reap the benefits.
Younger employees are eager to lead. Not only are a majority of millennials interested in taking on management positions (82 percent), but also half believe they need just three years to do so. Employees demonstrating leadership are valuable assets – they’ll also be especially eager to move up the ladder. Provide employees with a roadmap that spells out exactly what’s required to reach their goals and offer regular feedback and touch points along the way.
Employees seek rewards for their hard work. Half of all workers believe they should receive a raise once a year. That number jumps to two-thirds of employees if you’re looking at Gen X and Baby Boomers. Employees want to know their hard work is being recognized, and most often respond to monetary rewards. To ensure employees feel valued, companies should consider how to reward their employees monetarily for a job well done. If you’re not able to offer raises and bonuses, consider other incentives like additional vacation days to keep your workforce happy.
Employees want supportive and communicative managers. Over two-thirds of all workers say their ideal manager provides honest feedback. Additionally, half of these workers want a manager that helps them solve work-related problems or conflicts. Workplaces fostering an open communication and supportive environment allow workers to feel comfortable and confident in their roles. Make a point to share open feedback with employees, ensuring they know their success is important to the organization and their manager. Celebrate all wins, big or small, to build a happier, more productive workplace.
It is important for companies to make the effort to create a positive workplace. Not only does a happy environment increase employee retention rates, but it improves productivity as well. As the saying goes, it doesn’t feel like work if you love your job.