Nzworkers seek meaningful jobs
Christchurch employers are facing a struggle to retain skilled staff, as employees become increasingly restless after years of low growth, according to the latest survey results from global workforce solutions leader Kelly.
The Kelly Global Workforce Index reports that more than two-thirds (68 per cent) of New Zealand employees say they definitely intend to look for a new job with another employer within the next year. The survey canvassed the views of almost 170,000 people in 30 countries, including more than 3500 in New Zealand.
As the economy begins to improve, and in particular as the rebuild gains pace, Canterbury employers are likely to face increased competition, not only in attracting new staff but also in keeping their best employees, says Kelly managing director Debbie Grenfell.
‘‘Throughout the recession and even throughout the recovery, employers have had to focus on improving productivity and managing costs.
‘‘With the rebuild under way and expectations of growth climbing, we are seeing growing competition for top talent – particularly in areas like information technology, where skill shortages have remained throughout the downturn.
‘‘For employees, the response to years working in a sluggish economy, which has often meant coping with greater demands with fewer staff, lower wage growth and fewer opportunities for promotion, is the significant restlessness we are seeing in this new Kelly Global Workforce Index.’’
The number of employees intending to look for a new job in the next year is slightly higher than the international average, with 66 per cent of employees who responded to the global Kelly survey intending to move in the next 12 months.
‘‘However, in terms of the way employees feel about their work, the high number of people intending to move seems to point more to a reaction to the effects of the economy, rather than the job itself, with 50 per cent describing themselves as happy in their job, and only 27 per cent unhappy,’’ says Grenfell.
For employers, knowing what motivates skilled workers in their choice of employers can be the key to retaining their best staff.
‘‘For workers, especially in Christchurch after the earthquakes, it is personal fulfilment and opportunities for personal growth that appeal to them the most when choosing an employer, rather than salary or benefits.’’
According to the results of the survey, employees overwhelmingly list personal fulfilment as a far more important factor than compensation or benefits, when considering their choice of employment – 48 per cent cited ‘‘personal fulfilment/work-life balance’’ and 37 per cent cited ‘‘personal growth/advancement’’ as their key factor in deciding between employers.
Compensation was twice as likely to be a significant consideration, and personal fulfilment far less likely to be so. Twenty per cent of those surveyed internationally listed ‘‘compensation/ benefits’’ as their chief motivator when choosing a job, compared with 10 per cent in New Zealand.
Employees have a much stronger preference for more work-life balance, as well as quality of life, and are willing to accept a lower level of compensation to achieve it.
For those businesses looking to recruit or retain key staff members, this is a key insight, Grenfell says.
‘‘Employees were also far more likely to prefer to work in a job they found meaningful, and 48 per cent of respondents said they would be happy to take less pay to work in a job they found meaningful.’’
When asked what made their work meaningful, respondents overwhelmingly agreed that the ‘‘ability to excel/develop’’ in their field was most important, with 76 per cent selecting it as the primary factor.
The other key source of meaning for New Zealanders was the ability to give back to the community and society, which was cited as important by 33 per cent of respondents, 5 per cent above the international average.
New Zealand workers also placed a much greater importance on a good team culture.
Fifty-three per cent reported that developing a ‘‘connection with their coworkers’’ was an important factor in making their work meaningful to them. This was 12 per cent higher than the global average of 41 per cent.
‘‘Employees are clearly looking for work that they feel a real personal connection to.’’