10 Years Post-Recession: Workers Feel More Confident & Respected Today, But Are More Overworked & Unsure About Career Advance...
September 11 2018 - 8:00AM
Business Wire
--Today’s Workers Less Likely to Believe Pay
and Benefits are Competitive–
--Research Spans 1 Million US Employees At 180
Companies--
A Korn Ferry (NYSE:KFY) analysis of U.S. employee engagement
data shows distinct shifts in employee attitudes toward their
workplaces in the 10 years since the start of the Great
Recession.
The analysis of more than 1 million employees in approximately
180 companies shows both positive and negative trends from
2008-2018.
On the positive side, the analysis found that employees are 28
percent more likely today than in 2008 to believe that their
immediate managers support their development, and are 15 percent
more likely to report their organizations demonstrate care and
concern for employees.
Employees also feel more confident in the future, as they are 17
percent more likely today than in 2008 to believe their companies
will be successful over the next 2-3 years.
However, on the flip side, employees have stronger negative
opinions today on several issues:
Pay and Benefits
Compared to 10 years ago, workers today are 15 percent less
likely to agree that the benefits their companies offer them are
competitive, and they are 4 percent less likely to believe their
pay is fair considering the pay of people doing similar jobs in
other companies.
“Back in 2008, many workers may have been happy just to be
employed, given the mass layoffs at that time,” said Korn Ferry
Senior Principal Mark Royal. “But today, with the tight labor
market, employees have choices and may leave if they feel they can
be better compensated elsewhere.”
Training and Performance Management
Compared to 10 years ago, employees today are 10 percent less
likely to experience strong cross-team support within the company
and 11 percent less likely to believe that decisions are made at
the lowest level appropriate.
“Today’s organizations run much leaner and unfortunately,
managers are sometimes too strapped with their own workloads to
address the needs of their employees,” said Royal. “Over the past
10 years, there has also been a shift from hierarchal management to
flatter, more interdependent working environments. It’s important
that organizations understand the implications this has on managing
employees.”
Career Paths and Workload Issues
Though the analysis did find that employees believe their direct
managers support their development more today, it also found they
feel their organizations overall have murkier approaches to career
progression. Compared to 10 years ago, workers are 10 percent less
likely today to have a good idea of possible career paths available
to them, and they are 6 percent less likely to agree there are
enough people to do the work in their work group.
“Employees feel that there are not enough people to tackle
demanding workloads, and often don’t see how their hard work will
help them advance in the organization,” said Royal. “It’s important
to continually monitor and adjust accordingly the demands on
employees, and also offer them clear career paths that reward solid
contributions.”
Employee Attitudes in the Workplace at a Glance
What’s Improved from 2008-2018
What’s Gotten Worse from 2008-2018 Immediate managers
support their development (+28 percent)
Benefits are competitive (-15 percent) Organizations
demonstrate care and concern for employees (+15 percent)
Pay is competitive (-4 percent) Belief
their company will be successful in the next 2-3 years (+17
percent) Decisions are made at
the lowest level appropriate (-11 percent)
Have good idea of career path (-10 percent)
Have enough people in
their workgroup (-6 percent)
About Korn Ferry
Korn Ferry is a global organizational consulting firm. We help
clients synchronize strategy and talent to drive superior
performance. We work with organizations to design their structures,
roles, and responsibilities. We help them hire the right people to
bring their strategy to life. And we advise them on how to reward,
develop, and motivate their people.
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version on businesswire.com: https://www.businesswire.com/news/home/20180911005409/en/
Korn FerryTracy Kurschner,
612-309-3957Tracy.Kurschner@Kornferry.com
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