Employee Joy at work is a major factor for retention, but only Executives feel more effective and enjoy their work!
By | Nicolas BEHBAHANI | Global People Analytics Leader @ Future of Work | Leading Global HR Analytics, Driving Business Growth
💡 Employees who enjoy their work are 49% less likely to consider a new job than employees who don’t enjoy their work.
⚠️ Nearly half of employees may be looking for a new job and the risk is greatest among newer, younger, and more diverse employees.
💯 Senior-Level employees feel more effective and enjoy work more than managers and individual contributors.
👉 Individual contributors spend only 5% of their time on high-joy work, compared with managers and executives, who spend 56%
➡️ Same 6 factors are impeding both employees joy and companies talent retention, according to a new interesting research published by Boston Consulting Group (BCG) using data from a survey of 1008 employees from different roles, gender and roles.
✅Joy Effect can reduce attrition by 50%
Researchers found that enjoying work can cut the risk of attrition by half and they found that “doing work I enjoy” is the factor with the third strongest correlation with retention at the one-year mark, behind only job security and feeling respected at work.
🔥 Interestingly, the relationship between joy and retention holds even for employees who don’t consider themselves very effective at their job