Tuesday, October 12, 2010
Benefits by the Numbers
In October of 2010 I took to LinkedIn to engage the top producers in their respective fields. The intent being to discover what top talent is
looking for in an employer and what said employer needs to retain said
The survey includes a generational perspective of:
* Pay Scale
* Expected Tenure
* Opportunities for Advancement
* The Importance of Recognition of One’s Achievement
The results clarified some forgone conclusions and debunked others.
1. Google remains the Employer of Choice
2. Cash is still king, but a fun loving work environment is more important
3. Lack of pay is the last reason for leaving an employer
4. A Bad Boss is the number 1 reason for employee departure
5. Recognition from Senior Leadership is significantly more important than recognition from one’s peers
6. Top performers are seeking long term employment
7. Pay by performance is equally important as salary
8. Employees need to be recognized for their achievements at least once a month
The glaring facts
Our ability to conduct our work day at our own pace, to have a company vision we believe in, an opportunity for advancement and the need to 'have fun' at work are now the driving factors in the job search of those who have options.
What we didn't consider
Money is less a driving factor in employment than it used to be.
Generation Y has been categorized as the validation generation...our survey debunks these stereotypes in indicating that everyone wants to be recognized for their effort (at least monthly).
Despite the 'job hopping' categorization of today's workforce, our survey shows the majority of Top Performers are seeking long term employment (10+ years).
A Bad Boss can drive anyone from any company.
Statistics and case studies are everywhere. The default to many surveys is who is conducting them and what do I stand to lose by being honest.
It is my conclusion that this random survey of the Best of the Best gives us dependable data.
Note to Employers:
Big pay checks and generous benefits do not make up for lack of leadership
Everyone needs to hear Thank You!
Your company culture is what drives retention
Listen and implement requests from the field. Validate effort in a genuine manner. Create fun and a vision to believe in....Lead by Example.
Don't Forget to Remember!