We all love seeing our bank balance grow, but nowadays, employees are more focused on the balance between their work and home lives. According to a report by career research site The Muse, work-life balance has surpassed compensation as the top priority for employees when deciding to stay at a job or look for a new one.
When it comes to work-life balance, the survey of nearly 7-thousand workers finds:
- Gen Zers highly value a healthy work-life balance, with 60% citing it as the most important factor in evaluating a new job opportunity (versus 40% who say money is most important).
- Millennials and Gen X also prefer work-life balance over income, but by a much smaller margin than Gen Z.
- Across different racial and age groups, work-life balance was stated as the top priority when considering a new job.
- A large majority (70%) consider a company's work-life balance when determining if it is a good fit.
- More women (76%) rank work-life balance as their top priority compared to men (65%).
The survey also reveals:
- Unhealthy, unsupportive work environments are the main reason employees leave their jobs, with 34% of respondents attributing their job search to toxic workplace culture.
- Among generations, millennials are the least tolerant of toxic workplaces.
- Remote job listings receive three times as many applications as those tied to specific locations.
While work-life balance is the undisputed priority for workers surveyed and compensation was a close second, other factors they consider in choosing a new job include:
- Learning and growth opportunities (59%)
- Office culture and colleagues' likability (59%)
- Job perks and benefits (58%)
- Job security (47%)
- Company leadership (41%)
The Muse founder and CEO Kathryn Minshew says the findings from the survey show there’s been a shift from the traditional narrative that employment is just a trade of time and effort for money. This data proves that employees now expect much more from employers than just a paycheck.
Source: CBS News