It is often said that money cannot buy happiness. The size of one’s monthly salary hardly equates to job satisfaction and this observation is becoming increasingly apparent in modern times. This is the very same reason why overall workplace contentment is one of the most sought-after traits of most jobseekers. Potential employees are no longer satisfied with simply landing a position.
They are instead much more interested in obtaining a role that is associated with feelings of accomplishment and stability. Why are these findings critical for businesses?
The Millennial Revolution
The first aspect to highlight is the fact that millennials are now beginning to comprise a considerable amount of the active workforce. This generation is not nearly as concerned about pay grades as it is with flexibility and being measured based upon productive output as opposed to a flat wage.
This also illustrates that most millennials are willing to change careers if they do not feel satisfied. Employers who are able to address these needs are likely to land highly skilled workers.
What Other Factors are Involved?
Besides decent pay and competitive benefits, it has been shown that several other variables are now very important in relation to job satisfaction. Some of these include:
- Respect
- Clear channels of communication
- Job security
- Working within a healthy environment
- Upward mobility
- Trust between employees and upper management
All of these metrics are quite disparate and yet, they should be present alongside one another to make certain that the best candidate lands the most appropriate position.
The Dwindling Value of the Dollar (or the Pound or the Euro)
One striking example of this trend can be seen in Scotland. Recent studies have shown that although the mining industry pays the highest wages per hour, sectors such as automotive repair and retail sales have gained more employees over the past ten years.
We should also note that while the pay is 55 per cent lower when compared to mining, the levels of happiness is much higher. For example, Scottish jobseekers in Aberdeen, state that job satisfaction is slowly outstripping high-stress and high-salary roles. Still, it should be noted that the majority of those employed within the Scottish Highlands are entirely content with their current positions.
The Productivity Question
Psychology plays an important role when referring to the impact of happiness within the workplace. Employees who feel unfulfilled and unmotivated will obviously lack enthusiasm. This can quickly spread to other team members and as a result, a general sense of malaise will develop.
This may financially impact the company in question and there is no doubt that a customer hardly wishes to speak with a grumpy representative on the other end of the phone line. Therefore, it is in the best interests of the employer to make certain that the needs of all workers are addressed. Indeed, professional contentment involves much more than a pay grade alone.
