Workers say they stay with their current employers because of work-life fit and job enjoyment – as opposed to more “concrete” reasons like benefits, pay or a lack of other job opportunities, according to a survey by the American Psychological Association (APA).
The APA’s Workforce Retention Survey, which examined the factors that contribute to employee retention, found that:
Over two-thirds (67%) of employees chose to stay in their jobs because it was balanced alongside the other aspects of their lives.
The same percentage said they stayed at their current jobs because they enjoyed the work they do.
60% said they remained with their current employers because of benefits, while 59% reported staying because of the pay.
Only 39% cited a lack of other job opportunities as a reason for staying with their current employers.
Americans spent a majority of their waking hours at work and, as such, they obviously wanted to have harmony between their job demands and the other parts of their lives, David Ballard from the APA’s Psychologically Healthy Workplace Program said. “To engage the workforce and remain competitive, it’s no longer sufficient to focus solely on benefits. Today, top employers create an environment where employees feel connected to the organization and have a positive work experience that’s part of a rich, fulfilling life.”
For employees who said they planned to stay with their current employers for more than two years, the biggest drivers of expected tenure were enjoying the work, having a job that fitted well with other life commitments and feeling connected to the organisation, Ballard said.