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BERMUDA | RSS PODCAST

Money is not what drives employees

It’s no surprise to anyone that pay and benefits are important to workers. A primary reason we take jobs is to generate enough income for food, clothing, shelter, financial security and life’s frills.But how well one is compensated ranks far from the most relevant factors in how employees feel about their workplaces, according to a survey by Workplace Dynamics of the staffs of participating employers.Employees in the US were presented with 18 statements, divided into six categories, and were asked how important each was as a factor in rating their companies.The categories were career opportunities and advancement; direction of the company; execution of its business; managers; pay and benefits and work conditions.Three-fourths of the respondents, more than in any other category, indicated that a company’s direction is critical in how they grade their employer.The statements dealt with whether the organisation is going in the right direction (70 percent), confidence in the leader (67 percent) and if it operates by strong values and ethics (66 percent).Execution was the next highest emphasized subset, at 71 percent overall. Sixty-three percent of employees said it is important that senior managers understand what is happening and if things are done efficiently and well, while 58 percent placed emphasis on being well-informed on key decisions.Workplace conditions, at 70 percent overall, ranked just below execution. Feeling genuinely appreciated resonated with 68 percent of respondents. Having a low level of frustration came in at 51 percent, and flexibility to balance work and personal life at 50 percent.On the next lowest rung was career advancement and opportunities at 69 percent overall. Employees’ confidence in their future scored 65 percent, opportunities to learn and grow 58 percent and availability of the necessary formal training 54 percent.Respondents said their managers, at 62 percent overall, were not as significant as most other factors. Confidence in their managers drew 59 percent in importance, followed by managers listening to them (57 percent), managers making the job easier (55 percent) and comfort in being truthful with the boss (51 percent).Pay and benefits, at 47 percent overall, proved the least critical determinant on employees judging their companies. Being paid fairly registered 45 percent and having a benefits package comparable to the industry 31 percent.