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Survey Shows Younger Employees Less Satisfied with Jobs
Workplace Options’ Study of Working Adults Reveals Younger Employees Seek New Levels of Benefits
Contact:
Christine Hall
chall@capstrat.com
919-882-1998
23 January 2008 – Raleigh, NC – A national survey of working adults commissioned by Workplace Options (WPO), the largest provider of work-life employee benefits in America, found that only 39% of employees under 26 years old report being ‘very satisfied’ with their jobs.
By comparison, nearly twice as many employees 66 years old and older report being ‘very satisfied’ with their jobs, with 91% having favorable views of their work situation. Though no cause and effect was determined, the survey found that job satisfaction steadily increases with age.
As a large number of retirements are expected from ‘baby boom’ generation workers, more college graduates will be entering the labor market than over the previous decade. With this generational shift in the workplace, employers will need to be aware of a new set of needs from their employees.
“It’s no secret that job satisfaction is greatly tied to work-life balance,” says Alan King, president of Workplace Options. “What’s not so well recognized, however, is that work-life balance is not a one size fits all. Younger generations are looking for more, but different kinds of employee benefits.”
Employers are finding that traditional benefits such as child care, elder care and retirement are appropriate for older generations but often aren’t attractive for single college graduates and young professionals. College graduates entering the workforce today are looking for a new generation of benefits that include concierge services, such as planning a vacation, finding a pet sitter or discounts on goods and services. “In order to win the war on talent, employers must look at these work-life benefits as a key ingredient to attracting and retaining top talent,” adds King.
Once talent is hired, however, employers must keep them engaged, productive and happy. Three out of four workers report being stressed after being in their job for more than three years, while more than half report job dissatisfaction related to stress after being in their job for less than a year.
“Recent research shows that nearly six out of 10 workers today are choosing a healthy work-life balance as their most important workplace goal for 2008,” says Dean Debnam, chief executive officer of Workplace Options. “When employees experience a balance between their personal and professional lives, they’re more likely to have satisfaction with their jobs as it relates to stress and the employee/employer relationship. For this reason, work-life balance is more of a strategy for companies than a perk.”
The national survey, conducted by the North Carolina firm of Public Policy Polling on Jan. 10, polled 711 working adults. The survey has a margin of error of ± 3.7%.
About Workplace Options
Workplace Options helps employees balance their work, family and personal life in order to make their lives healthier, easier and more productive. The company's world-class employee support and work-life services provide information, resources, referrals and consultation on a variety of issues ranging from dependent care, legal and financial issues to stress management and wellness.
Drawing from an international network of credentialed providers and professionals, Workplace Options is the world's largest integrated employee support services and work-life provider. Service centers in Raleigh. N.C., London, Toronto and Dublin support more than 32 million employees in 20,000 organizations, across 170 countries. To learn more, visit www.workplaceoptions.com.
© 2012 Workplace Options, Inc. All rights reserved.
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