Employees say it's not just about the paypacket

Thursday 25 June, 2015

 

Is salary the golden nugget that appeals you to a job? If so, you’re in the minority. According to a new study by Glassdoor a higher salary won’t necessarily make you a happier worker – money doesn’t equal happiness, especially in the workplace.

The new research shows that today employees rank factors other than salary as more important in the workplace. Over 220,000 people were used in the study who earned anything up to $AUS260,000, and it revealed that a higher salary only makes employees a little bit happier. In fact, a 10% increase in pay was associated with a miniscule 1% increase in employee satisfaction. To put this in perspective, if you earned $AUS60,000 and had a 10% raise of $AUS6,500 – your employee satisfaction level might only switch from 75% to 76%. Not the most significant difference.

Happy employees can lead to higher-quality work output, so it’s crucial that employers understand their staff’s values. The most appealable factors to employees are culture and values, career opportunities, and senior leadership, followed by work-life balance, compensation and benefits, and business outlook.

A work-life balance is one of the main elements employees truly value in the workplace, and OneShift focuses on jobs that offer flexibility in both long and short term roles. See more at: www.oneshiftjobs.com

Forbes’ Susan Adams commented on the salary-happiness link and said, “It’s likely that people making less than $US30,000 (or just under $AUS40,000) would value compensation over other factors. But at the point at which you can take care of your expenses, save some money, and have a little fun, other aspects of your job may matter more than salary.”

 

Image source: www.powerretail.com.au 

 

Heather Doherty

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