The question of how much salary matters for job satisfaction and loyalty is always pressing on the consciousness of employers and employees alike. While there is significant research which proves that compensation is a key component of employee satisfaction, there are other factors of workplace happiness which could even override material benefits.
A 2013 study by Gallup found that 63% of “engaged” workers would stay in their current job, even if they won 10 million dollars in the lottery. Meanwhile, only 20% of actively disengaged workers would stay if they were the lucky winners. When people are engaged at work, other factors like salary become secondary. They work because they are inspired and energised by their jobs, not just because it puts food on their table or affords them a new car.
Now you’re probably wondering – where can you find these amazing “engaged” workers who wouldn’t leave your company for $10 million? The bad news is that these employees are hard to find: only 13% of the global workforce is engaged at work (Mann & Harter, 2016). However, it is possible to start engaging workers that you already have. It’s not an easy task, and it involves a fundamental change in workplace culture and way of thinking, but it will be worth it.
“Engaged” workers are ones who are entirely invested in their work, are passionate about their contributions, and whose personal motives align with the goals of the firm. They will stay the extra couple hours to finish their project, and have the firm’s best interest at heart. In order to incite a culture of engagement, management needs to allow employees to work based on strengths, provide them with the tools they need to do their jobs, encourage positive supervisor-employee relationships, and collect and listen to feedback.
While creating a culture of engagement is a process involving a change in workplace attitudes and expectations on all sides, there are tools to help management. Pulse surveys are a great way to gather feedback from employees on how to turn apathetic or disengaged workers into an engaged workforce which will push your company to success.
Author: Jackie Spang