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Wednesday, September 29, 2010

Pay and Benefits not the Only Drivers of Employee Loyalty

September 28, 2010 (PLANSPONSOR.com) - A recent global poll conducted by Monster shows that good pay and benefits is the top reason cited for securing employee loyalty (27%).
However, the survey also showed that having a solid team (21%) and being recognized for good work (21%) were also highly rated by workers polled. In addition, according to a press release, respondents cited challenging/interesting work (20%) and opportunities for advancement (11%).
Globally, having a great boss and co-workers, challenging/interesting work and gaining recognition all recorded results at 20% or above, demonstrating that, for many workers, there is more to their loyalty than financial rewards, Monster said.
Pay and benefits was the biggest factor driving loyalty for workers in North America, where 32% of respondents reported so, as well as workers in Hungary (38%), the Gulf (38%), Singapore (31%), Canada (30%) and the UK (24%). Respondents in India (31%), Italy (27%) and Ireland (24%) rated gaining recognition as the foremost reason for them being loyal to their employers.
Challenging or interesting work is the most important factor driving loyalty in Finland (35%) as well as for respondents in both France and the Netherlands (20%).
"It's not surprising that pay and benefits top the list, but it is very important that an employer recognizes they need to provide a good experience in the workplace overall," said Jeffrey Quinn, senior director, Monster Intelligence, in the press release.
Rebecca Moore
editors@plansponsor.com
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