Black Enterprise (BE) had a great feature in their April 2008 issue titled “Here’s what I’m looking for! Employees and Management still disagree on what is important.” Citing a 2007 survey conducted by Spherion Corp., BE noted that the top three drivers of job retention among employees were Benefits, Compensation, and Growth & Earnings Potential.
Here’s a quick snapshot of the top 8 ranking priorities:
Drivers of Retention
1. Management Climate 1. Benefits
2. Supervisor Relationship 2. Compensation
3. Culture & Work Environment 3. Growth & Earnings Potential
4. Benefits 4. Management Climate
5. Growth & Earnings Potential 5. Time & Flexibility
6. Training & Development 6. Culture & Work Environmen
7. Compensation 7. Supervisor Relationship
8. Time & Flexibility 8. Training & Development
Okay, there’s a whole lot to dissect/discuss here, but I’d like to focus on one VERY interesting driver ranking, Compensation.
It’s pretty clear that employers were very “me-focused” when took this survey. They may have tried to think of what their employees view as important, but in the end the came up with what was important to them. Are things like management climate and supervisor relationship important?Absolutely, BUT do you know anyone who stayed with a company thinking “Well…the benefits aren’t great… and they pay about $7,000 less that the other places I’m interviewing with but the supervisors are awesome”?
If you do, let me know where they live because I know a couple reporters who’d be very interested in testing the water.
I must say money’s not everything. I’ve turned down several jobs in the past that offered more because other criteria didn’t line up. However, like many of my Gen-Y co-workers, I’ve got student loans and everything else to deal with, so salary is still very much on my mind at this point in my career. Money is not everything…but it’s a lot. Its 2nd place ranking proves that. To all those employers who ranked Compensation so low that it came in 7th place, don’t act surprised when your hallways start emptying out.
Personally my top three looks like this (Not 100% sure about the order):
- Training & Development
- Growth & Earnings Potential
How about you? What would keep you from jumping ship?