Despite uncertainty in the job market, employees give several non-monetary reasons for staying on the job including having a good work-life balance and enjoying what they do, according to a recent survey by the American Psychological Association (APA). Although 60% of employees stay with their employers because of benefits and 59% stay because of the pay, 67% stay because their jobs fit well with the other aspects of their lives. The same percentage stays at their jobs because they enjoy the work they do. Even with the slow economic recovery and relatively high unemployment, only 39% of respondents cite lack of other job opportunities as a reason for staying with their employers.
David W. Ballard, PsyD, MBA, head of APA’s Psychologically Healthy Workplace Program said, “Americans spend a majority of their waking hours at work and, as such, they want to have harmony between their job demands and the other parts of their lives…To engage the workforce and stay competitive, it’s no longer sufficient to focus solely on benefits.” The survey also reveals the following:
• Seventy-two percent of women stay because of a good work-life balance compared to 62% of men.
• Seventy-two percent of women stay because they enjoy their work compared to 63% of men.
• 61% of women stay because of the benefits compared to 59% of men.
• Fifty-seven percent of women stay because of the pay compared to 62% of men.
• Employees age 55 and older are the most likely to say because they enjoy the work (80%), have a good work-life balance (76%), have good benefits (66%), feel connected to the organization (63%) and have the opportunity to make a difference (57%).
• Employees age 18-34 are least likely to say they stay because they enjoy the work (58%), have a good work-life balance (61%) and have good benefits (54%). They are most likely to stay because they like their co-workers (57%) and managers (46%)
• 67% of employees ages 35 to 44 say that their pay is the reason to stay with an employer, which is higher than in any other age group.
• The biggest reasons that employees give for planning to stay with for employees their employers for more than two years are enjoying the work, having a job that fits well with other life demands, and feeling connected to the organization.
For more information, visit www.apa.org.