Pay is less important than quality of life to a majority of employed adults
According to a survey by The American Staffing Association polling more than 1,000 U.S. adults, the majority of employees consider a good work-life balance more important than pay.
Work-life balance is the concept of prioritizing between career and ambition (work) and health, pleasure, family and spiritual development (lifestyle). According to The ASA Workforce Monitor survey, six in 10 currently employed adults ranked work-life balance and scheduling flexibility higher than pay or wage potential when asked what they value most in their current positions.
For companies looking to maintain their current employees, quality of life is also one of the most important elements in retaining current employees.
Ways that companies ensure a better quality of life for employees include rewarding employees when goals are met, offering lunch-and-learn opportunities and offering other incentives. Some organizations offer special incentives such as attending events like baseball games. This is a great way to get out of the office for a few hours and spend some time with coworkers in a fun environment.
According to prospective employees being recruited for new positions, compensation is what matters most. For adults who are considering leaving their jobs for new positions, pay or wage potential and benefits are most important.
Common benefits that matter to employees are:
- Health insurance
- Tuition reimbursement
- Sick leave
- Retirement plans
- Maternity/paternity leave
The ASA study also revealed how employees feel about relocating for a new position. More than seven out of 10 adults were unlikely to relocate for a new position. Of those unlikely, half like where they live and don’t want to move, and four out of 10 are unwilling to leave family and friends. Of those likely to relocate, pay or wage potential is the most important factor in deciding whether to relocate.
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