Shifts in employee expectations continue to impact employers as talent management grows increasingly more challenging.
The healthy job market and economic conditions have empowered today’s job seekers, giving them more job choices and control of the recruiting process.
In turn, employers have had to alter their hiring strategies, focus on improving the employee experience
, highlight their company culture
, and enhance compensation and perks to attract and retain top talent.
But these aren’t the only things that are important to employees and job seekers. A new report from Kimble Applications
highlighted another important factor for today’s workforce: business growth
Business and Professional Growth Greatly Influence Today’s Worker
Kimble Applications’ The Business Growth Report
was taken by 1,000 United States workers, of which 45% were male and 55% female.
Right away, the survey shows that 85% of workers care about the growth of their organization.
This is shown even more powerfully when asked if they would rather work 50 hours a week at a growing company or 40 hours a week a stagnant one. 69% said they would rather work more hours if it meant being at a growing business
Another interesting finding showed that American’s work for more than just their pay. When asked about the primary reason they do the work they do, here are the top responses:
- To get paid – 35.7%
- To advance my personal career – 26.2%
- To feel fulfilled – 19.6%
- To help my organization grow – 17.4%
Additionally, 66% of workers said that their own happiness is tied to the growth and success
of their employer.
However, employees aren’t envious of those whose business is growing faster than their own employer. 75% said this doesn’t matter to them, with just 18% saying they are jealous.
Meaningful Work and Exciting Opportunities Matters to Employees
You’ve probably read an article recently that discussed the importance of meaningful work to employee happiness and retention
. The survey found that 62% of workers would accept a new job offer if it provided “more meaningful” work than their current position.
When asked what meaningful work meant, 53% said it was doing something that was a passion of theirs while 36% said it was work that was making the world a better place.
And 86% agree or strongly agree
that they would be more willing to do whatever it takes to help their employer grow if the work being done was meaningful.
Another interesting question showed why workers would stay at a growing startup compared to an established business:
- Career growth potential – 34%
- Financial compensation – 33%
- The feeling of personal fulfillment – 28%
- Stock options – 3.6%
Next, survey takers were asked to identify the biggest contributors to company growth. Here are the top 4 responses:
- Company leadership – 38%
- Employee productivity – 33%
- Products and services – 17%
- Good marketing and sales teams – 11%
Last, the survey revealed that 27% of American workers have left a job because they felt their company wasn’t growing
Workers Care About More Than Just Pay
One way that some employers have tried to address recruiting and retention difficulties has been to offer increased pay. But while this is something that can help overcome these challenges, it’s not the only factor that matters to job seekers and employees.
That’s why having a complete talent management strategy
is so critical for employers big and small, as it helps to address other areas that influence a worker’s decision to accept a job offer or leave their current employer.
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