Employee Retention Linked to Shared Values and Interests
Research by the American Psychological Association has found that workers are more likely to stay with employers when there is alignment between their values/interests and those of the organisation. They found that these factors were more important than remuneration and benefits.
The Workforce Retention Survey, conducted with American workers aged 18 years and above, examined a range of factors associated with employee retention. Even in the current economic climate, values and meaning were key drivers of employee satisfaction above financial considerations.
More than two thirds (67%) of respondents said they stayed in their jobs because they enjoyed their work and had jobs that fit well with other aspects of their lives. Benefits (60%) and pay (59%) were less important considerations. Only 39% cited a lack of other job opportunities as a reason for staying at their current job.
There were age and gender differences, with women more likely to value work-life fit than men, and older workers more likely to value enjoyment of their work than younger workers.
“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,” says David W. Ballard from the APA’s Psychologically Healthy Workplace Program. “To engage the workforce and remain competitive, it’s no longer sufficient to focus solely on benefits. Today, top employers create an environment where employees feel connected to the organization and have a positive work experience that’s part of a rich, fulfilling life.”
We can help you assess the fit between organisational and individual values and interests. RightPeople’s Work Values and Motivation Inventory (WVMI) is based on extensive cross-cultural research from leading values experts and taps individuals’ underlying values including power, achievement and conformity that are significant motivators of behaviour. It is important for an organisation to identify applicants’ values to ensure that they match organisational values and the job role. Alignment between personal and workplace values is a key requirement for job satisfaction and job performance. The WVMI can assist with job selection, career advancement and training decisions.
Contact us to find out more.