Employees fall out of love with work
Article Date: Feb 12 2007Forget the problem of office romances this Valentine’s Day. Today’s employers should be more concerned with keeping stressed employees ‘in love’ with their job, claims new research.
The poll of 2,278 employees, conducted by YouGov for workplace information and advice business Croner, reveals that non-financial factors such as poor relationships with colleagues, heavy workload and long hours are equally or more stressful to employees than dissatisfaction with pay and benefits.
Croner experts believe that a ‘job for life’ is becoming a thing of the past and employers who don’t address work/life balance issues risk losing stressed staff to businesses that not only offer attractive salaries, but also ‘lifestyle’ benefits, such as flexible working.
Industry figures confirm that labour turnover is on the increase. The CIPD’s annual Recruitment, Retention and Turnover Survey calculated UK labour turnover in 2005 to be 18.3 per cent, compared with 15.7 per cent in 2004.
Richard Smith, employment services director at Croner, says: ‘Only 14 per cent of people we polled said they never get stressed at work, and of those who do, only 12 per cent selected pay and benefits as the most stressful workplace factor.
Accordingly, Croner recommends that employers who are looking to improve recruitment and retention should consider non-financial benefits, such as:
- Offering flexible working schemes
- Implementing corporate social responsibility initiatives
- Promoting diversity and equality
- Encouraging work/life balance
- Effective talent management
- Investing in employees’ personal and professional development
Smith adds: 'While salary is a key consideration for most employees, many are looking for a company that fits with their lifestyle, for example an organisation that offers childcare vouchers and flexible working may appeal more to those with family. This is a great option for smaller companies who may not have the resources to offer complex reward schemes.'
