Employees Want Job Stability, Opportunity for Meaningful Work
New research from Paychex Inc. explores the challenge of employee retention and the key drivers motivating employees when making choices about their career paths. The survey of more than 600 U.S. workers provides insight employers can use when developing strategies for increasing retention. The study was conducted in partnership with Future Workplace.
When asked about factors (other than compensation and benefits) that contribute to their decisions to stay in with their company, 30% of respondents indicated that perceived job stability is their most important motivator and 60% ranked it in their top three. Feeling that the work was meaningful (45%) and having a passion for their field (33%) were the second- and third-most-popular answers, respectively. Reasons related to employers' brands (19%), corporate culture (19%), and products (13%) are the least important to employees, despite many companies' focus on these elements in their recruiting and retention efforts.