Did you know that the average person spends 90,000 hours at work during their lifetime? 90,000 hours. It’s a mindboggling number. Not so mind boggling is the fact that a survey conducted by CareerBuilder found that only 59% of 3,008 workers were satisfied with their job.
What factors influences employee satisfaction?
The workers questioned in the CareerBuilder survey pin pointed two key features that would prompt them to seek employment elsewhere: insufficient salary and job performance undervalued due to lack of recognition and adequate benefits. The satisfied employees also cited the salary and benefit package as one of the core reasons for why they chose to remain at their job. The importance of benefits to employees was once again reiterated when respondents suggested a more robust benefits package as a way to increase employee retention.
What is the current state of benefits in the United States?
The answer to that question depends on where you work. Some companies deliver amazing benefits. The Campbell Soup company offers employees a full kindergarten program and 100 percent healthcare. General Mills offers new employees 3 weeks paid vacation as soon as they step through the door. Not all employers provide such a robust benefit programs. On average, employees that work in the public sector or at a big company in the public sector are more likely to receive a robust benefits package.
Most employers offer some level of benefits. Social security payments (2 on the infographic), Federal Family and Medical Leave (3), and time off for civic duty (4) are federally mandated benefits. Other perks like paid time off (8) are slightly easier for companies to afford. Despite the fact that the United States is one of the only industrialized countries that does not have paid time off laws, 71% of American workers are offered at least a few days of PTO. After all not all employees offer minimal benefits due to the desire to earn more profits, struggling companies or new companies have minimum resources to offer robust benefit plans.
Some employees are willing to wait for companies to hit an even enough footing to offer more benefits, but at the end of line benefits and pay are vital to life satisfaction. If we ever want to be able to retire at a reasonable age, we must be able find employment at a location that will offer benefit packages that will give us the tools to a financially healthy life.