Survey Shows Younger Employees Less Satisfied With Jobs

Survey Shows Younger Employees Less Satisfied With Jobs
[Talent Management Magazine January 31, 2008 | Volume 4, Issue 9]

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 percent of employees younger than 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 percent 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 in 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," said 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, eldercare 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," added 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," said 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 January 10, polled 711 working adults. The survey has a margin of error of ± 3.7%.