Employee priorities tend to shift as workers climb the career ladder, moving away from salary, according to a July 1 SHRM report.
In a survey of more than 2,200 U.S. workers, 89% pointed to salary as the top influence on their career decisions. At the director level, though, only 31% said they valued financial rewards the most, while the rest said they made decisions based on work-life balance and professional development opportunities.
Workers said career advancement can also significantly affect their personal and professional lives, with trade-offs such as longer work hours, less family time and adverse effects on their physical and mental health.
Nearly half of workers said that their career advancement has had negative effects on their mental health (45%) and physical health (47%), sentiments that become more pronounced at the director level. Directors, too, reported delaying achievement of their own personal goals in favor of career advancement (29%) at a higher rate than individual contributors (27%) and managers (18%).
Women at the director level or above were most likely to report trade-offs, such as working longer hours than they wanted (71%), compared to 60% of their male counterparts. Women also were more likely to report sacrificing self-care, family time and their physical health than men.
“While the road to career advancement requires dedication and some trade-offs, the rewards can be profound,” Johnny C. Taylor, Jr., president and CEO of SHRM, said in a news release. “Success doesn’t have to come at the cost of well-being or fulfillment.”
Organizational support can help mitigate some career trade-offs, SHRM found. Mentorships, sponsorships and leadership resources appeared to help employees overcome challenges and build resilience. Employees with mentors or sponsors were found to be 1.5 times more motivated to handle career challenges, the report found.
“Growth isn’t just about climbing the ladder; it’s about ensuring the climb is sustainable and rewarding for every individual,” Taylor said.
As employee priorities shift throughout their career, employers can focus on retaining talent by supporting those priorities, according to a report from The Conference Board. In particular, today’s workers want workplace flexibility, development opportunities, meaningful work and alignment with organizational values, the report found.
Amid ongoing labor market uncertainty, HR pros are shifting their talent strategies to focus on internal talent capabilities, according to a DDI report. Most HR leaders said they anticipate their organization needing to develop new leadership skills during the next five years.
