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Corporate Culture is Important
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It's true: Money isn't everything. At least that's the conclusion of a recent survey of job satisfaction, although financial reward and benefits do play some role in how happy your employees are on the job.
A recent study by job search Web site Workopolis.com found that the top two factors contributing to job satisfaction are: A positive corporate culture and the opportunity to use skills.
April 26th:
"Take Our Daughters and Sons to Work Day"
It's that time of year when children around the country take off from school to learn about their parents' workplaces. Thursday, April 26 is the 15th annual "Take Our Daughters and Sons to Work Day."
Founded by the Ms. Foundation, the day is "designed to expand opportunities for girls and boys, expose them to what adults in their lives do during the work day, show them the value of their education, and give them an opportunity to share how they envision their future."
Participating this year? Click here for tips, activities and materials to use. |
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Elements of Satisfaction |
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The Workopolis.com study evaluated job satisfaction using these elements, shown in order of employees' perceived importance:
1. Corporate culture
2. Opportunity to use skills and abilities
3. Opportunity to learn
4. Ability to be creative
5. Opportunity for advancement
6. Level of autonomy
7. Work/Life balance
8. Contribution to the community
9. Financial rewards and benefits
10. Flexibility in work hours
11. Stress level | Financial rewards is number nine on the list (see right-hand box for the complete list).
Corporate culture is nearly twice as important to job satisfaction as flexibility in work hours, and three times as important as maintaining manageable stress levels.
The study shows individuals want a challenging and supportive work environment with chances to use their skills and to learn more.
Even employees in lesser-paid jobs value a good working environment, flexible hours and the chance to be creative more than salary and other financial rewards.
One of the lessons you can take from this survey is that, at a time when unemployment is running at between six and seven per cent, employers need to strive to keep employees satisfied or they may wind up not having enough staff members to meet their business requirements.
In another survey released late last year, 45 per cent of employers said they couldn't find qualified candidates for their job openings. That same survey, conducted for CareerBuilder, showed that although employees are reporting job satisfaction, they aren't so content that they wouldn't take another job elsewhere.
That study found that 63 per cent of 422 full-time workers polled were satisfied with their jobs, although about one-third weren't happy with their pay and career advancement potential and about a quarter were dissatisfied with work/ life balance. Thirty-three per cent said they plan to find a new position within a year and 48 per cent expected to look for a new job within two years.
The Workopolis Top 20 Jobs study asked almost 9,000 working people to evaluate job satisfaction based on 11 factors.
When it came to changing their current situation, the top change desired was better financial rewards and benefits (35 per cent) followed by opportunity for advancement (12 per cent) and reduced stress (nine per cent).
CEOs and teachers were the most satisfied with their jobs. Although they finished in a close race, they differ significantly in the changes they would like. CEO's want more work/life balance (23 per cent), while teachers would like improved financial rewards (42 per cent).
The opportunity to use skills and abilities is the second most valued quality to employees, particularly among CEOs and other C-level professionals and among teachers.
With the information from the survey, here are five tips to help create a satisfying work environment for your staff:
1. Train and offer feedback to build competence and self-confidence.
2. Encourage and reward thoughtful risk-taking. Individuals with high job satisfaction have an appetite to try novel approaches, face challenges and solve problems.
3. Encourage positive workplace relations. Satisfied employees often feel good about their bosses, peers and co-workers, which generates fewer job-related hassles.
4. Develop flexible work arrangements. When possible, allow job sharing, alternate schedules and telecommuting since these are desired work benefits.
5. Career advancement. Be sure to provide as many opportunities for promotion and career development as possible within your organization. Try to promote from within rather than seeking skills outside the business.
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The 20 Most Satisfying Jobs |
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Rank |
Job |
Top Factors |
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1 |
CEO/ CFO/ President |
Corporate Culture, Opportunity to Learn |
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2 |
Teacher/ Tutor |
Work/ Life Balance, Corporate Culture |
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3 |
HR Professional |
Corporate Culture, Opportunity to Use Skills |
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4 |
Actor/ Director |
Opportunity to Learn, Ability to be Creative |
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5 |
Nutritionist |
Stress Level, Contribution to Community |
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6 |
Career Counselor/ Trainer |
Corporate Culture, Opportunity to Learn |
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7 |
Chef |
Ability to be Creative, Work/ Life Balance |
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8 |
Mental Health/ Social Worker |
Corporate Culture, Work/ Life Balance |
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9 |
Graphic Designer |
Opportunity to Use Skills, Opportunity for Advancement |
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10 |
Market Researcher/
Analyst |
Corporate Culture, Opportunity to Use Skills |
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11 |
Public Relations/
Communications |
Opportunity to Use Skills, Ability to be Creative |
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12 |
Writer/ Journalist |
Opportunity to Use Skills, Corporate Culture |
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13 |
Nurse |
Corporate Culture, Opportunity for Advancement |
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14 |
Computer Programmer |
Ability to be Creative, Corporate Culture |
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15 |
Bar/ Restaurant/ Hotel Manager |
Opportunity to Use Skills, Financial Rewards and Benefits |
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16 |
Web Designer/
Developer |
Corporate Culture, Opportunity to Use Skills |
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17 |
Product Manager |
Corporate Culture, Financial Rewards and Benefits |
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18 |
Construction Tradesperson |
Opportunity for Advancement, Work/ Life Balance |
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19 |
Medical/ Biological
Researcher |
Flexibility in Work Hours, Ability to be Creative |
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20 |
Engineer |
Opportunity to Learn, Ability to be Creative |
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Our firm provides the information in this e-newsletter for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.
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