IES Blog

Wages and benefits top employees’ priorities, replacing job satisfaction

Posted on July 27th, 2011 Read time: 1 minutes

While a company's human resources administration may focus on keeping employees satisfied as a means of boosting loyalty, a recent survey suggests other factors may more accurately determine whether permanent or temporary workers choose to stay or go.

According to a survey from the Chartered Institute of Personnel and Development, more than 2,000 respondents indicated their top reason for changing jobs was an increase in wages and benefits, compared to last year when job satisfaction took the No. 1 slot.

Ben Willmott, senior public policy advisor for the CIPD, also noted that this year, workers are more likely to be saddled with financial difficulties or increased stressors at work, all of which can lead to higher levels of absence and accidents and a greater incidence mental health issues.

"It is, therefore, in employers' interests to support employees in tough times through ensuring line managers are equipped with effective people management skills and by providing advice and support on debt management and financial planning," Willmott said.

Fortunately, as the economy continues its slow recovery, a number of employers are reinstating benefits that were cut as a result of tightened budgets.

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