Workplace Retention Study

Attracting and retaining the best

What we did

Focus groups were conducted with young people, to define areas of concern in retaining staff focussing on professional, science/tech and trade industries

An internet based survey was then conducted in September 2007 of 800 employees aged under 40

A thorough cross section of industries was covered – from defence, mining and trades to technology, creative and professional

Why should you care?

Your team

Who’s really happy?

Who’s really loyal?

Only 1 in 20 younger employees are extremely satisfied and extremely likely

to be in the same job in three years

What are they looking for?

Challenge

Autonomy

Learning

Creativity

Responsibility

Management

Flexibility

Diversity

Opportunity

Growth

People

Culture

What makes a happy employee?

1. Pay and salary package

2. Training and development

3. Responsibility and challenge

4. Employer image

5. Work-life balance

6. Management culture

7. Work environment

What is the priority?

Impact on overall job satisfactionManagement Culture

‘Management needs to take a

long hard look at themselves’

‘It's not just a job or about the money’

Impact on overall job satisfaction

Management Culture

Salary Package

Work-Life Balance

Training & Development

Responsibility & Challenge

Company Image

Work Environment

Impact on staff loyalty

Management Culture

Salary Package

Work-Life Balance

Training & Development

Responsibility & Challenge

Company Image

Work Environment

Happy

66%

Management Culture

78%

Salary Package

81%

Work-Life Balance

74%

Training & Development

81%

Responsibility & Challenge

83%

Company Image

82%

Work Environment

Current employer below average

35%

Management Culture

24%

Salary Package

44%

Work-Life Balance

34%

Training & Development

42%

Responsibility & Challenge

55%

Company Image

47%

Work Environment

Top 10 Retention Strategies1. a management style that you respect [73%]

2. future opportunity for advancement and responsibility [70%]

3. reward for successfully completing complex tasks [68%]

4. places its employees needs as essential to business success [68%]

5. a casual and friendly work environment [68%]

6. has a reasonable view of hours worked in an average week [67%]

7. forward thinking and innovative management [67%]

8. well respected and intelligent managers [66%]

9. trustworthy management [65%]

10. allows working from home [65%]

Top 10 Don’t Care1. equity of shares in the business [20%]

2. company paid credit card [19%]

3. discount programs [18%]

4. relocation allowance [18%]

5. school fee subsidy [17%]

6. reimbursement expense account [16%]

7. blackberry paid by employer [16%]

8. job share [14%]

9. gift vouchers [11%]

10. no fixed office / mobile office [9%]

The employer of choice …

“They provide their employees with flexibility, a great work environment that encourages creativity and development”

What are the key messagesfor employers?

1. Management culture is the greatest area of weakness and has the strongest impact on retention

2. Gen X and Y employees are highly confident and will leave employers unwilling to nurture and provide future opportunity

3. Invest in workplace design that encourages productivity and creativity, career development and other support

4. Employer image is important

But it’s not that easy

A 100% increase in overall job satisfaction will increase staff

loyalty by only 27%

Closing quote from the research …

“Staff are unhappy and leaving but

management don't seem to care”

For a copy of the full report visit …

http://www.squareholes.com/reports/GenXYwork.pdf