It’s already been established that employees are more likely to quit if they have a bad relationship with their bosses.
But, did you also know that a lack of growth opportunities can also significantly contribute to their unwillingness to stay with the organisation?
According to a workplace satisfaction survey by the Hay Group division of Korn Ferry, 61% of the nearly 600 employees surveyed found the lack of growth opportunities to be the most frustrating aspect of their jobs.
This was followed by the “relationship with management” (15%), “not fitting into the company culture/values” (12%).
Here are the four greatest frustrations executives face on the job:
1. Lack of growth opportunities (61%)
2. Relationship with management (15%)
3. Low compensation (8%)
4. Relationship they have with co-workers (4%)
Thankfully, they survey stressed not every employee hates his/her job, highlighting that 4% of respondents already love their job.
Digging deeper, the survey identified a few factors which employees appreciate about their jobs.
It found that “workplace relationships with co-workers and clients” (47%) is the top reason why executives love their job, followed by “company culture/values” (21%) and “growth opportunities” (18%).
Pay/compensation came in last at 4%.
“Today more than ever, employees need to be inspired by and proud of their organisation’s culture and vision,” said Dave Eaton, Hay Group senior partner.
“Leaders who focus on creating an open, honest, participatory culture will have the best chance of keeping high-performing employees on the job and engaged, especially during times of change.”
However, from the small percentage of employees who already love their roles, it was apparent that organisations have to step up their game when it comes to employee satisfaction.
Topping the list was culture.
Almost 7 in 10 of the respondents highlighted that working for “a company whose culture is aligned with my values” as the key to improving their feelings about the job. This was an improvement from last year’s survey when only 47% said that culture was king.
Clear advancement opportunities (14%) and a more equitable compensation rounded off the top three.