New data from global organizational consulting firm Korn Ferry shows that employees are 15% “less likely to” think they have “competitive” benefits this year than in 2008, when the Great Recession began. How well were you faring economically 10 years ago?
This stat — and the ones that follow — come from a recent examination of more than one million American workers at around 180 companies to see how they felt about the workforce between these years.
How things have declined between 2008 and 2018
While some employees are feeling worse about their benefits today than 10 years ago, the data also shows other ways that things have been on the decline over the last decade. For example, people are 10% less inclined to think that they “have a good idea of career path” today.
People are 11% less apt to believe that “decisions are made at the lowest level appropriate,” and are also 6% less inclined to believe that they “have enough people in their workgroup.”
But back in the vein of cash, people today are also four percent less likely to think that their salary is considered “competitive.”
“Employees feel that there are not enough people to tackle demanding workloads, and often don’t see how their hard work will help them advance in the organization…It’s important to continually monitor and adjust accordingly the demands on employees, and also offer them clear career paths that reward solid contributions,” he said.
But wait, it’s not all bad
There are actually a few bright spots: the data shows that compared to back in 2008, workers in 2018 are 15% more inclined to believe that “organizations demonstrate care and concern for employees.”
But there were also higher percentages: workers were 17% more apt to think that their employer will be doing well over the following two to three years, and 28% more likely to believe that their direct supervisors “support their development.”
The numbers suggest that people feel like their managers are invested in them right now, but also that they think their companies will be faring well in the years to come.