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U.S. Workers’ Job Satisfaction Rates Soar Higher Than in Last Two Decades

The scoop on what’s satisfying, what’s not and how these drivers can push employers to continue implementing workplace improvements A recent study conducted by The Conference …

The scoop on what’s satisfying, what’s not and how these drivers can push employers to continue implementing workplace improvements

A recent study conducted by The Conference Board, shows that more than half of U.S. workers are satisfied with their jobs. With this number being the highest percentage job satisfaction in two decades, the question stands as to why? Amongst the 2,000 U.S. workers surveyed, 54% of them feel satisfied with their job. The results also exemplified the below:

  • Job security is up 5% from 2017.
  • Millennial wage satisfaction is up 9.8%.
  • Commute to work, physical environment and interest in work all are up to nearly 60% satisfaction rates.

As noted by Gad Levanon, an author of the report and The Conference Board’s chief economist for North America, “People are quitting their current positions at the fastest pace in over two decades.”

With a strong job market at hand, employees now have more accessibility to jump around and find better job fits that increase their satisfaction. While the median for employees to stay at a company is 4.2 years, and only 2.7 years for individuals under 35, it’s anticipative of those years to rise as opportunity improvements continue and stay maintained.

With not much information showcasing job satisfaction rates solely for Lansing, Robin Erikson, author of the report and researcher for The Conference Board, shared a few statewide statistics. In 2018, Michigan’s overall job satisfaction rate was 48.8%. While this is lower than the national average, the percentage is in line with Illinois and Ohio. The Midwest as a whole finds itself below the 54% national rate, but without much reason.

Researchers from The Conference Board believe it positively correlates with population growth. In states experiencing fast-growing populations, they are in turn presented with larger and more dynamic job markets. States on the West Coast, where people have heavily flocked in recent years, shed truth to the correlation. Colorado holds the highest job satisfaction rate at 61.6%, and Utah and Nevada with a combined rate of 58.4%.

So, is it safe to say moving could potentially increase a person’s overall job satisfaction? Certainly, but not everyone’s plan is to do so. Nor does it discredit other serious areas of dissatisfaction. The flip side reveals that employees feel least satisfied, at 32.9%, with their potential for growth. Not only do they feel least satisfied but also most driven and influenced by this aspect within the workforce. An employee’s commute, environmental surroundings and health care plans are “pick-able” options from point of hire, but potential for growth is not. Most typically, an employee must enter in blind to what communication, reviews, promotions, bonuses and so on will look like.

Men and women varied slightly in their drivers to satisfaction, except both agreed upon “potential for future growth, communication channels and recognition/acknowledgment.”

Although the 54% of U.S. workers being satisfied in their jobs is encouraging, it still poses concern. The survey’s calculations mean that half of America continues to remain unsatisfied, and it’s crucial employers take this seriously. All employees, experienced or new, should be confident in asking any potential employer upfront about what these aspects look like within a company.

Employers should aim to be as truthful as possible, all while making improvements within their lacking areas (specifically those mentioned in this study). An employer striving to keep its employees happy will undoubtedly reap the benefits. It is common sense that an employee who feels recognized, congratulated and compensated for his or her good work will want to continue producing good work. Employee loyalty will thicken as they begin to feel more inspired and treated fairly. From experienced to young professionals, from large corporations to small businesses, the bottom line is simple: Success comes to those who lend a helping hand to others striving just as actively to achieve the same goal.

 

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