What Employees Value More Than Their Salary, According to Glassdoor
Pay is important , but it’s not the only thing that contributes to job satisfaction. New Glassdoor research shows what makes people happier in their jobs and how that depends on income.
Glassdoor wanted to see how employee values change as their earnings change. What workplace factors do employees value in general, and how do they change with increasing wages? To answer this question, Glassdoor analyzed its own data: salary reports and company testimonials from over 600,000 users. They looked at six different factors: culture and values, senior management, career opportunities, business prospects, work-life balance, and compensation and benefits.
They used theShapley Value analysis method to see how various factors change the overall forecast. They explain:
In other words, with this approach, the six workplace factors can be viewed as a pie in terms of the predictive power of employee satisfaction. We then add and subtract factors from our model and examine how the predictive power pie changes with each adjustment — how much more or less the factor is in overall satisfaction. This approach allows us to determine which factors are the most statistically “important” predictors of overall employee satisfaction.
Overall, they found that culture and values were the largest predictors of employee satisfaction — 22% of the pie. Leadership quality was also important (21%) along with career opportunities (18%). Positive business prospects, work-life balance, and compensation and benefits were the least important predictors of employee satisfaction, according to Glassdoor’s analysis.
Unsurprisingly, as wages have risen, compensation has become less important. After all, if your wage needs are met, you have one factor less to worry about. As income increased, the most valuable factors for employees became even more important: culture and values, quality of senior management and career opportunities.
Don’t let this data get in the way of negotiating higher pay, but if you’re looking for a job, it can help you find out what other job qualities matter. To check the report yourself, follow the links below.
What is most important in work when raising wages | Glass door