employee satisfaction insights & millennials in …...(66%) feel that more vacation time has...

Simplified Understanding

EMPLOYEE SATISFACTION INSIGHTS & MILLENNIALS IN THE WORKFORCE

August 2016

Employee Satisfaction Insights

Table of Contents

Introduction 3

5 Millennial Myths Debunked 6

3 Millennial Truths Confirmed 10

Who We Are… 12

Employee Satisfaction Insights 16

Detailed Findings 19

Contact Information 30

2


Introduction


Background & Objectives

4

Background

Insights West’s Employee Satisfaction Insights model allows organizations to accurately assess employee satisfaction and compare results to normative benchmarks in order to identify areas of particular strength or weakness.

For a third consecutive year, Insights West conducted an online survey with Metro Vancouver employees.

Why did we conduct this research?

• To better understand employee satisfaction and what drives it;

• To determine how engaged employees are;

• To uncover insights around loyalty and why people leave their jobs; and

• To compare differences in employee satisfaction, loyalty and engagement by generation.

Employee Satisfaction

Insights


Methodology

5

Methodology The online survey was conducted with 2,040 Metro Vancouver employees from March 10-29, 2016. A sample of this size is considered accurate within ±2.2%, 19 times out of 20.

SampleThe sample was broken down by generation as follows:

• Millennials: 18 to 35 years;

• Generation X: 36 to 51 years;

• Baby Boomers: 52 to 70 years; and

• Traditionalists: 71 years+.

Data was weighted by city, age, gender and employment status to ensure the sample matches known population proportions from Census Canada data for BC.

• Significant differences between sample subgroups are marked as follows:

Statistically significantly higher than comparison group(s).Statistically significantly lower than comparison group(s).


5 Millennial Myths Debunked & 3 Truths Confirmed


5 Millennial Myths Debunked

• One-quarter of Millennials (25%) and Baby Boomers/Traditionalists (26%) are “delighted” (9 or 10 rating out of 10) with their current employer, which is significantly higher than Generation X (19%). Millennials award the highest average score of 7.4 on the 10-point scale.

• When considering likelihood to recommend their employer, three-in-ten (31%) Millennials are considered promoters (9 or 10 rating on 0 to 10 scale), while an equal percentage (31%) are detractors (0 to 6 rating). This translates to an NPS of 0, which is higher than Generation X (-15) and Baby Boomers/Traditionalists (-8).

Myth #1: Millennials are unhappy and frustrated with their current employment situation.FALSE: Millennials are significantly more satisfied and more likely to recommend their current employer than Generation X.

7

• Close to four-in-five Millennials (78%) feel that flexible work hours have “a lot” of impact on their decision to work for an employer, which is consistent with Generation X (79%) and Baby Boomers/Traditionalists (77%).

• Roughly two-thirds of Millennials (66%), Generation X (70%) and Baby Boomers/Traditionalists (66%) feel that more vacation time has “a lot” of impact on their likelihood of working for an organization.

Myth #2: Millennials are more concerned about vacation time and work life balance.FALSE: Vacation time and flexibility of work hours are equally as important to all generations, including Millennials.


5 Millennial Myths Debunked Continued

8

• Close to six-in-ten (57%) Millennials are satisfied with their opportunities for advancement at their current employer. Two-in-ten (19%) are “very satisfied,” which is the highest of all generations (9% Generation X; 13% Baby Boomers/Traditionalists).

• Compared to Generation X, Millennials are more likely to “strongly agree” that they have enough freedom to make decisions (36% vs. 28% Generation X) and are encouraged to offer their opinions and ideas (38% vs. 29% Generation X).

• One-in-four Millennials “strongly agree” that they are rewarded for doing a good job, which is significantly higher than Generation X (13%).

Myth #3: Millennials are frustrated with their future career opportunities and the level of autonomy in the workplace.FALSE: Compared to Generation X, Millennials are more satisfied with their opportunities for advancement and their freedom to make decisions.

• Three-quarters (76%) of Generation X and Baby Boomers/Traditionalists think that young people tend to feel entitled to higher pay and promotions than they deserve.

• However, Millennials are just as likely as to think they deserve more than they’re currently getting paid (44% “strongly agree” among Millennials vs. 40% Generation X and 39% Baby Boomers/Traditionalists).

Myth #4: Millennials feel they are entitled to higher pay.FALSE: Millennials are equally as likely to think they deserve to get paid more.


5 Millennial Myths Debunked Continued

9

• More than half of Millennials (54%) agree that they are more likely to get involved/contribute more to charitable activities at work than others, with 19% “strongly agreeing”. This is consistent with employees in other generations (14% “strongly agree” among Generation X; 17% “strongly agree” among Baby Boomers/Traditionalists).

Myth #5: Millennials are more inclined to participate in charitable activities.FALSE: Millennials are equally as likely to get involved in charitable activities at work.


3 Millennial Truths Confirmed

10

• Millennials are more likely to “strongly agree” that they work harder than those around them (33% vs. 26% Generation X and 25% and Baby Boomers/Traditionalists) and deserve to be promoted faster than they currently are (27% vs. 19% Generation X and 21% Baby Boomers/Traditionalists).

• Interestingly, roughly seven-in-ten Generation X (72%) and Baby Boomers/Traditionalists (66%) feel that young people starting out in the workforce don’t work as hard as they did when they were their age.

Truth #1: Millennials think they work harder than others, while older generations feel that young people don’t work as hard.TRUE: Millennials feel they work harder and deserve to be promoted faster, while older employees feel that young people don’t work as hard as they did when they were their age.

• Millennials, along with Generation X, are less likely to be committed to the success of their organization (46% “strongly agree” for both) compared to Baby Boomers/Traditionalists (54%).

• Millennials and Generation X are also less likely to “strongly agree” that they love the work that they do (35% and 31% vs. 46% among Baby Boomers/Traditionalists).

Truth #2: Millennials are less engaged and committed to their employers.TRUE: Millennials are less committed to the success of their employers than Baby Boomers/ Traditionalists.


3 Millennial Truths Confirmed Continued

11

• One-third (34%) of Millennials “strongly agree” that they are more likely to recycle or care about the environmental impact of work than others, which is significantly higher than Generation X (24%).

Truth #3: Millennials have greater concern for the environment than the older generations.TRUE: Millennials are more likely to recycle/care about the environmental impact of work.


Who We Are…


Insights West: Who We Are

A progressive, full-service market research company offering insights-driven research solutions and interpretative analysis through leading-edge

tools, normative databases and senior level expertise.

CORE VALUES

Ø Fastest growing market research firm in the West

Ø Most senior level team of researchers

Ø Expertise in Employee Satisfaction and Engagement

Ø Dashboard results compared against benchmarks

13


Great value: company nimbleness + big company assets and experience = lower costs for very high calibre work

Qualitative: experience and tools for all in-person and online methodologies

Tools and normative databases: norms built for brand, communications testing and sector-specific norms

“Your Insights” panel: 30,000, including a multicultural panel of Chinese/South Asians

Strong partnerships:allows us to conduct national and international studies easily

Technology enabled: mobile engaged panel

Press release strategy: over 200 releases on diverse topics

Insights West: A Brief Introduction

14


We used our tool, Employee Satisfaction Insights,for this study.

15

Brand Reputation

InsightsBrand reputation, ad

tracking & digital reputation together

in one tool.

Creative Test Insights

Quantitative, reliable

measurement of effectiveness of

creative against a normative database

Employee Satisfaction

Insights Straightforward & insightful tool for

measuring employee

satisfaction against regional & national

benchmarks

Video Insights Adds qualitative insights to online

surveys through use of video captured

by panellists

Alumni Engagement

InsightsQuantitative,

reliable measurement of

alumni engagement against a normative

database


What is Employee Satisfaction Insights?

17

Provides organizations with an affordable means of tracking employee satisfaction, engagement and loyalty.

Online and paper surveys distributed to employees throughout all levels of the organization.

Benchmark comparisons to our database of Canadian employees.

Driver analysis to determine key attributes that are ultimately driving employee satisfaction and engagement.

Customizable attributes to meet each organization’s unique needs.


Advantages of Our Approach

18

Fast Turnaround

Start to finish in as little as 4

weeks.

Recent Benchmarks

National, BCand Albertanormative

comparisons to over 8,000

employees.

Cost Effective

Less than you think:

$8K to $25K.

Expertise

Employees have

reassurance results are

confidential.

Projectable, quantifiable

data.

Expert questionnaire

design.

Flexible

8 to 10-minute survey with room to add custom questions or

add-on tools.


Detailed Findings


Other Generations

Generation X(n=649)

Baby Boomers/Traditionalists

(n=444)TOTAL

(n=1,539)10 – Excellent 7% 11% 10%

9 12% 15% 14%

8 26% 26% 26%

7 29% 21% 24%

6 9% 10% 10%

5 9% 8% 8%

4 4% 3% 3%

3 2% 3% 3%

2 1% 1% 2%

1 – Poor 1% 2% 2%

Average 7.1 7.3 7.210.07.4

10%

15%

27%

23%

11%

6%

3%

2%

1%

1%

Compared to Generation X, Millennials and Baby Boomers/Traditionalists are significantly more “delighted” with their current employer.

Overall Satisfaction (Among Those Employed Full/Part Time)

20

Base: Metro Vancouver residents employed full/part time A1. Before we ask about your Dream Employer, we’d like to understand how satisfied you are with your current employer, how would you rate your organization overall as a place to work?

Not so Happy24%

Delighted25%

Happy50%

Statistically significantly higher than comparison generation(s).

Gen.X

Gen.X

Gen.X

B.B./Trad

Millennials(n=446)

Delighted19%

Delighted26%

Delighted24%

Happy55%

Happy 47%

Happy 50%

Not so Happy

27%

Not so Happy

27%

Not so Happy

26%


% A LOT OF IMPACTOther Generations

TOTAL(n=2,035)

Generation X(n=818)

Baby Boomers/

Traditionalists(n=629)

Higher compensation 82% 84% 85%

Flexibility of work hours 79% 77% 78%More opportunities

for advancement 63% 61% 66%Better medical benefits

than other organizations 69% 77% 73%More training and

learning opportunities 58% 57% 61%

Physical location 67% 70% 66%Better bonuses/profit sharing opportunities 70% 72% 71%

More vacation time than other organizations 70% 66% 67%

Unlimited vacation time 61% 58% 61%Up-to-date leading

edge technology 47% 50% 49%

88%

78%

77%

73%

68%

61%

71%

66%

64%

49%

98%

98%

98%

98%

97%

96%

96%

95%

93%

92%

Higher compensation, flexible work hours, more opportunities for advancement and better medical benefits have the greatest impact on Millennials’ likelihood of working for an employer. Higher compensation, more advancement opportunities and more training/learning opportunities are more important to Millennials, while physical location is less important.

Impact of Employee Benefits

21

Base: All Metro Vancouver respondentsB3. There are a number of things that dream employers are doing to attract employees. If an employer offered the following benefits, how much impact, if any, would each one have on you being likely to work for that employer?

A lot of impact A little impact

Millennials(n=588)

Gen.X

Gen.X

Gen.X, B.B./Trad.

Millennials

Gen.X, B.B./Trad.



% A LOT OF IMPACTOther Generations

TOTAL(n=2,035)

Generation X(n=818)

Baby Boomers/


Ability to work from home 59% 57% 56%

Social events 20% 17% 21%

Provide ownership/shares 41% 48% 42%

Organization gives back 25% 36% 32%

Gym membership 23% 21% 26%

In-office massages 20% 14% 19%

Stand up desks 12% 11% 14%

In-office daycare 17% 6% 15%

A nap room 12% 8% 12%

Ability to bring pets to work 17% 12% 15%

51%

28%

36%

33%

34%

24%

20%

26%

18%

15%

87%

85%

82%

79%

78%

64%

63%

53%

53%

41%

Ability to bring pets to work is least important in Millennials’ decision to work for an employer. Many employee benefits are more important to Millennials than other generations; the greatest differences are recorded for in office massages, gym memberships, social events, stand up desks and in-office daycares.

Impact of Employee Benefits (continued)

22

Base: All Metro Vancouver respondentsB3. There are a number of things that dream employers are doing to attract employees. If an employer offered the following benefits, how much impact, if any, would each one have on you being likely to work for that employer?

A lot of impact A little impact

Millennials(n=588)

Millennials

MillennialsGen.X

Gen.X

Gen.X, B.B./Trad.

Gen.X, B.B./Trad.

Gen.X

Gen.X, B.B./Trad.

Gen.X, B.B./Trad.

Gen.X, B.B./Trad.

B.B./Trad.

B.B./Trad.

B.B./Trad.

B.B./Trad.

B.B./Trad.



% VERY SATISFIEDOther Generations

Generation X

(n varies)

Baby Boomers/Traditionalists(n varies)

TOTAL(n varies)

Working relationship with colleagues 42% 51% 46%

Working relationship with supervisor 36% 44% 40%

Vacation time 38% 47% 39%

Physical work environment 29% 30% 30%

Job security 28% 39% 34%

Benefits 27% 38% 31%

Work/life balance 26% 35% 30%

Training and learning opportunities 17% 24% 22%

Consistent with Metro Vancouver employees overall, Millennials are most satisfied with working relationships with colleagues, followed by working relationships with supervisors. Compared to Baby Boomers/Traditionalists, Millennials are less satisfied with vacation time and benefits.

Satisfaction with Specific Job Aspects

23

Base: Metro Vancouver residents employed full/part time, excluding not applicableA4. How would you rate your satisfaction or dissatisfaction with each of the following?

43%

41%

31%

29%

34%

26%

29%

25%

89%

81%

77%

77%

76%

74%

73%

70%

Very Satisfied Somewhat Satisfied

Millennials(n varies)

Gen.X

Gen.X

MillennialsGen.X

Gen.X

MillennialsGen.X

Gen.XGen.X

Gen.X



% VERY SATISFIEDOther Generations

Generation X(n varies)

Baby Boomers/Tradi

tionalists(n varies)

TOTAL(n varies)

Staff morale 17% 22% 21%

Communication from senior management 17% 22% 20%

Stress level 12% 23% 18%

Company processes and procedures 12% 15% 15%

Opportunities for advancement 9% 13% 13%

Wages or salary 15% 24% 19%

Bonus 11% 20% 15%

Millennials are least satisfied with bonuses and wages/salary. Compared to Generation X, Millennials are more satisfied with staff morale, company processes/procedures and opportunities for advancement.

Satisfaction with Specific Job Aspects (continued)

24

Base: Metro Vancouver residents employed full/part time, excluding not applicableA4. How would you rate your satisfaction or dissatisfaction with each of the following?

24%

21%

17%

19%

19%

16%

15%

67%

66%

64%

63%

57%

56%

44%

Very Satisfied Somewhat Satisfied


Gen.X

Gen.X

MillennialsGen.X

Gen.X

Gen.X

Gen.X



Average NPS

Millennials 7.2 0

Generation X 6.7 -15

Baby Boomers/ Traditionalists 6.9 -8

Total 6.9 -8

Gen.X31%

23%

29%

28%

39%

38%

35%

37%

31%

38%

36%

35%

Millennials award the the highest Net Promoter Score (NPS) for likelihood to recommend their place of employment, while Generation X has the lowest NPS.

Likelihood to Recommend (Among Those Employed Full/Part Time)

25

Promoters Detractors NPS– =

Promoters Passives DetractorsBase: Metro Vancouver residents employed full/part time A2. If someone you knew was looking for a job, how likely would you be to recommend your organization as a place to work?

NPS Definition:(Net Promoter Score)

= Promoters less Detractors

Gen.X

Millennials


No plans to leave

Not actively looking, but would consider a new

opportunity if it came up

Actively looking for a new job

Don’t know

One-third of Millennials have no plans to leave their current employer, which is significantly lower than Baby Boomers/Traditionalists. More than half of Millennials are not actively looking but would consider a new opportunity if it came up.

Likely Future Loyalty (Among Those Employed Full/Part Time)

26

Base: Metro Vancouver residents employed full/part time A3. Which of the following best describes what you think about your current job?

32%

54%

13%

1%

Millennials(n=446)

Total(n=1,539)

Generation X(n=649)

Baby Boomers/Traditionalists

(n=444)

42%

46%

11%

1%

35%

49%

14%

1%

53%

38%

8%

1%

B.B./Trad. B.B./Trad.

MillennialsGen.X

B.B./Trad.



% STRONGLY AGREEOther Generations

Generation X

(n=649)

Baby Boomers/


TOTAL(n=1,539)

I understand what is required of me 52% 64% 57%

I understand how my role contributes to the company goals 43% 53% 48%

I am committed to the success of my organization 46% 54% 49%

I have enough freedom to make decisions 28% 34% 32%

My skill set is used effectively 28% 39% 34%

I am encouraged to offer my opinions and ideas 29% 36% 35%

I love the work that I do 31% 46% 38%

I am rewarded for doing a good job 13% 20% 19%

54%

47%

46%

36%

32%

38%

35%

24%

93%

90%

88%

82%

80%

78%

77%

63%

The vast majority of Millennials understand what is required of them and understand how their role contributes to company goals. Compared to Generation X, Millennials are more likely to feel they have enough freedom to make decisions, are encouraged to offer their opinions and are rewarded for doing a good job.

Commitment Factors

27

Base: Metro Vancouver residents employed full/part timeA5. How much do you agree or disagree with the following statements about your current job and employer?

Millennials(n=446)

Strongly Agree Somewhat Agree

MillennialsGen.X

MillennialsGen.X

Gen.X

MillennialsGen.X

Gen.X

Gen.X

Gen.X

Gen.X

Gen.X

Gen.X



% STRONGLY AGREEOther Generations

Generation X(n varies)

Baby Boomers/

Traditionalists(n varies)

TOTAL(n varies)

I think I deserve more than I’m currently getting paid 40% 39% 41%

I generally work harder than those around me 26% 25% 27%

I am more likely to recycle or care about environmental

impact of work than others24% 30% 29%

I deserve to be promoted faster than I currently am 19% 16% 20%

I am more likely to get involved/contribute more to charitable activities at work

than others14% 17% 17%

Like Metro Vancouver employees overall, Millennials tend to overestimate themselves and underestimate their colleagues. More than four-in-five Millennials agree that they deserve more than they are paid and generally work harder than those around them.

Agreement/Disagreement with Statements

28

Base: Metro Vancouver residents employed full/part time, excluding don’t know (n varies)C7. Here are a number of statements about work, please tell us whether you agree or disagree with each statement.

44%

33%

34%

27%

19%

84%

81%

74%

70%

54%



Gen.XB.B/Trad.

Gen.XB.B/Trad.

Gen.XGen.X



Total Generation X/B.B/Trad.(n=1,042)

Generation X(n=598)

Baby Boomers/Traditionalists(n=405)

Total Generation X/B.B/Trad.(n=1,049)

Generation X(n=595)

Baby Boomers/Traditionalists(n=417)

Roughly three-quarters of Generation X and Baby Boomers/Traditionalists agree that young people tend to feel entitled to higher pay and promotions than they deserve, while seven-in-ten feel young people starting out in the workforce don’t work as hard as they did when they were their age.

Agreement/Disagreement with Statements

29

Base: Metro Vancouver residents aged 35+ and employed full/part time, excluding don’t know (n varies)C7. Here are a number of statements about work, please tell us whether you agree or disagree with each statement.

33%

33%

32%

30%

30%

30%

76%

77%

75%

69%

72%

66%


Disagree Agree

Strongly disagreeSomewhat disagree

5

3

6

8

8

8

24%

23%

25%

31%

28%

34%

“Young people tend to feel entitled to higher pay and

promotions than they deserve.”

“Young people starting out in the workforce today don’t work as hard as I did when I was their age.”


If you’re interested in measuring employee satisfaction and comparing your results to our normative benchmarks,

please contact us for more information.

Jane Ha-TrappVice President, Insights West

[email protected]

Contact Us to Learn More!

Steve MossopPresident, Insights West

[email protected]

30

employee satisfaction insights & millennials in …...(66%) feel that more vacation time has...

Documents