If you’re looking for ways to keep good employees from leaving your company, you’ll want to take note of a new analysis released by the jobs and companies reviews site Glassdoor.
Researchers looked at what were the strongest predictors of employee satisfaction—and thus what would make employees most want to stick around. Glassdoor then assembled that data as if it were a pie, giving each quality a numerical percentage, which, when all slices were added together, equaled 100%.
Here are the workplace factors that matter the most to employee satisfaction:
- Culture and values: 18.4%
- Senior leadership: 17.6%
- Career opportunities: 15.8%
- Business outlook: 13.8%
- Work-life balance: 12.1%
- Diversity and inclusion: 11.4%
- Compensation and benefits: 10.9%
What may be surprising to some is that compensation and benefits garnered the slimmest portion of the pie, indicating that salary isn’t necessarily king when it comes to employee satisfaction. However, Glassdoor points out that compensation is important when trying to attract employees in the first place.
“Across all sectors, compensation and benefits play a relatively small role as a differentiator of employee satisfaction,” Glassdoor’s report notes. “But does this mean that employees don’t care about how much money they’re making or the benefits they receive at work? Absolutely not. This signals that differences in company workplace culture plays a larger role in determining day-to-day job satisfaction than differences in salaries. While compensation and benefits may attract employees to a job, a company’s culture retains them.”
So if you want to keep your employees happy after you’ve nabbed them with a nice salary, Glassdoor advises companies to keep up with the evolving workplace culture and to check in with your employees to solicit feedback, which can help you identify their needs that you may have overlooked while focusing on the business operations of the company.
Recognize your brand’s excellence by applying to this year’s Brands That Matter Awards before the final deadline, June 7.
Sign up for Brands That Matter notifications here.
