Insights from the Monster 2014 Employed/Passive Seekers Workforce Talent – Job Seeker Survey

Monster just published a new insights piece. This job seeker survey focuses on how job seekers view the current job market, their job satisfaction, and what will motivate their career decisions.

The top 1/3 of respondents were made up of: Information Technology/Internet Management (general), Clerical/Administrative, Management (executive level), and Healthcare professionals. The career level was 5% Executives, 33% Management, 50% professional, and 12% Entry. The majority had either a bachelor’s or a master’s degree.

How the Monster surveyees view the current job market:

Approximately half are employed, and half are feeling good about their job security. Interestingly 90% plan to explore new opportunities as the job market improves. Two-thirds (67%) feel the current economy has hurt their career plans.

Only half of respondents reported trusting company leaders to make good decisions, and only one-third believe their company is making the right workforce investments.

More people report being dissatisfied with their current employment (38%), slightly less are satisfied (35%), and almost one-third are somewhere between with 27% reporting “neutral”.

More than half of surveyees report being inspired to do their best work, and two-thirds are proud to work for their employer. Half of respondents enjoy going to work every day and the approximately the same number feel their efforts at work are recognized and valued.

What contributes to job satisfaction?

Those factors that add up to employee satisfaction are work safety, co-workers, job location, flexible work schedule, and appreciation of supervisors/management. Paid time-off and enjoyment of work ranked next, followed by job security, and organizational mission.

Surveyees reported that the things they liked the best at their current employment included their boss or co-workers, the job flexibility, the salary or bonuses, the use of their skills on the job, and the job location (including work from home opportunities). Fortunately most folks reported confidence in their employer’s future.

What motivates these employees to go elsewhere?

Only half of respondents feel like their efforts at work are recognized and valued. And nearly one-third of jobs seekers are feeling burnt out at a lot of the time.

Employed job seekers are on the whole open to new job possibilities. And while more than half are actively searching for new career opportunities, nearly another quarter browse for new opportunities occasionally.

Appreciation of boss or colleagues ranks the top five things people report liking least at their current employer. Other factors they don’t like include the career advancement opportunities, the corporate culture, the leadership/management, and the salary, or bonuses.

The primary motivators are the desire for a better fit of employment with the employee’s skills, experience and aspirations (38%). The same number desire better compensation.

What’s the moral of the story?

Recruiting new talent is a long, expensive process. Companies can get a much higher rate of return on looking at employee satisfaction and taking steps to increase it. Creating a corporate culture that builds teams and unites people will go a long way to creating a positive working relationships between colleagues and management. Effective management communication can go a long way such that employees share the vision and have confidence in the company’s future as well as feel opportunities for their own career advancement. Ensuring that compensation packages are competitive is a great way to retain good talent, if you underpay your employees, you’ll pay it out in lost revenue and down time while you are trying to replace the turnover.

Reference:

Read the Monster 2014 Employed/Passive Seekers Workforce Talent – Job Seeker Survey