The Conference Board released its annual job satisfaction report, showcasing record-high levels of job satisfaction – yet underlying concerns in the report suggest a growing dissatisfaction among employees.
The Conference Board, a non-profit think tank focused on business organizations, released its annual job satisfaction report this week, revealing that job satisfaction is currently at its highest level since the report began, with 63% of employees reporting satisfaction with their jobs. Yet while on the surface this looks promising, there are indications in the report that there is rising discontent, particularly around issues of wages, benefits, workload, and work-life balance.
Surprisingly, those who switched jobs in the past few years showed the highest dissatisfaction. From our research, we know that it’s usually the ones you have just hired who are the most positive, with scores declining most for those working 5-7 years, before those numbers begin a recovery among those who choose to stay. This change in the Conference Board data is likely pandemic related, as those who switched jobs in the past few years may have interviewed or even started their work remotely but were recently called back into the office. Additionally, many employees say the pandemic shifted their work-life priorities.
{Related: Why "Return-to-Office is not a One-Size-Fits-All Solution."}
The Conference Board found that workplace culture, as well as one’s relationship with their supervisor and co-workers, had a big impact on one’s satisfaction.
So how do you create or maintain a strong culture? First, understand that culture means something different to most people. When we refer to culture, we are referring to the principles, ideologies, values, and beliefs of an organization, and how it influences the way individuals interact with each other and behave with people both inside and outside the company. Culture is not current initiatives, the employee experience, or aspirational values. Organizations wanting to improve or change their culture need to first understand their goal, and then focus on the differentiating aspects of their culture, identifying where particular attributes need to be reinforced, and making sure to integrate efforts throughout the calendar year. Employee surveys can help measure workplace culture and track progress.
{Watch Now: How to Create a Winning Culture Using Employee Insights}
In the report, women reported less overall job satisfaction than men for the sixth consecutive year, reflecting lower satisfaction across 24 of 26 of the subcategories used by the Conference Board. The largest gaps were related to the financial benefits of work, followed by potential for career growth, health benefits, and wages. (According to the Pew Center, the pay gap has remained mostly unchanged for over two decades, with women making on average about 82% of what their male counterparts make, with the disparity being even more for women of color.) Overall, women were substantially less satisfied by the recognition they receive, performance reviews, and the quality of leadership.
{Read More: Empowering Women: Supporting Female Employees}
Employees are increasingly rethinking what they want out of work, and how much of their lives they want to dedicate to it. Post pandemic, many workers are looking for increased flexibility around when they need to be in the office, as well as the hours they need to work. Organizations that can provide some flexibility will have more opportunities to attract and retain top talent.
So what should organizations do with this information? First, it’s important to capture the feedback at your organization, rather than just focusing on national job trends. In fact, our norms database reflects a higher job satisfaction rate than the Conference Board found, with roughly 86% of employees reporting job satisfaction. Organizations that survey their employees will be in a stronger position to understand the challenges facing them and measure the impact of any initiatives. Holistic listening initiatives can provide a complete picture of everything happening within your organization. Next, ensure that you’re creating meaningful and sustainable initiatives around issues your employees care most about. Finally, make sure you are analyzing employee feedback by demographic, so that every group’s voice is heard accurately.
Not sure where to get started? OrgVitality is happy to help.