New Research: The Top 10 Factors for Employee Happiness on the Job
Employee engagement and happiness is definitely one of the topicsÂ du jourÂ for modern management and the future of work. Plenty of studies have already (and continue to) come out that show how low employee engagement is around the world (only 13 percent of employees are engaged and 87 percent are not!). Low employee engagement numbers correlate and oftentimes cause decreased productivity, waisted resources, and an overall toxic environment that nobody wants to be a part ofâ€¦ and why should they?
This is why itâ€™s important to understand what employees around the world value in their jobs. So what do employees actually want and what do they care about?
A Tinypulse surveyÂ from 2013 revealed that transparency was the No. 1 factor for employee engagement.
A 2014 SAP surveyÂ found that compensation is the No. 1 factor that matters most to employees.
Another survey by the SHRMÂ (Society for Human Resource Management) conducted in 2013 also found that compensation and pay was the No. 1 factor contributing to job satisfaction.
Several other studies have also emerged around what employees care about at work butÂ the most recent one from Boston Consulting GroupÂ which surveyed over 200,000 people around the world is one of the most comprehensive. Unlike previous studies which may point to flexibility or salary
as the top factor for job happiness, BCG found that the No. 1 factor for employee happiness on the job is being appreciated for their work!
Based on the color-coded categories you can see above, out of the top factors the majority are grouped as either â€śwork environmentâ€ť or â€śjob content and opportunities.â€ť Perhaps what is more interesting is the contrary to some of the other studies which show compensation as the No. 1 factor for happiness, this report puts salary at No. 8. This reaffirms what I consistently see in organizations that I speak with. You canâ€™t pay someone a lot of money, treat them poorly, and expect them to do their jobs well just because they get a nice check.
Itâ€™s important to remember that the â€śbalance of powerâ€ť is shifting away from organizations and towards employees. Today, we have a lot of choices to consider and several opportunities to evaluate when exploring how to make a living. Instead of going to work for a large established company that has more money, people can now:
- join a small growing startup
- become a freelancer on sites like odesk or elance
- drive for Uber or Lyft
- create their own products to sell on sites like Etsy
- raise money through crowd-funding on sites like Indiegogo or Kickstarter
- and much more