Dive Brief:
- Money is the great motivator when it comes to attracting talent, but once a salary hits $75,000, other factors come into play regarding employee satisfaction, according to MarketWatch.
- When Glassdoor released it's "best" 25 jobs for 2016, for example, the top four all offered salaries above $100,000 annually. Plus, the majority of job seekers (68%) ranked salary and compensation as the most desired aspect of a new job, MarketWatch reports.
- However, after money, factors such as location and commute (59%), benefits/perks (57%), work/life balance (51%), working hours/number of tasks assigned (46%), career growth opportunities (38%) and company reputation (34%) followed close behind.
Dive Insight:
According to the article, Gallup recently found that almost half of participants (44%) change jobs for a 20% or less raise. However, for those "disengaged” from their work, compared to "engaged," more of the former group (54%) would entertain leaving for that raise, while 37% of engaged employees would feel the same way.
Along with those factors, Sam Culbert, a UCLA professor told MarketWatch that his research found a boss often plays a critical role when it comes to job satisfaction.
Shawn Murphy, the chief executive and founder of Switch and Shift, which helps other organizations navigate workplace culture changes, told MarketWatch that this trend affects millennials in particular, who in most surveys rate meaningful work very highly as a reason to choose an employer.
