61 Percent of Americans Consider Themselves Overworked and 86 Percent Are Not Satisfied With Their Job, According to Monster's 2004 Work/Life Balance Survey
MAYNARD, Mass.--(BUSINESS WIRE)--Aug. 3, 2004-- While the U.S. job market continues to grow, so do Americans' dissatisfaction with their current employment situations and work/life balance. It is clear that workers are ready and willing to make a change. According to Monster's 2004 Work/Life Balance survey, 82 percent of Americans are unhappy with their work/life balance (a) (up from 80 percent in 2003) and 72 percent work more than 40 hours per week (b) (up from 71 percent in 2003). Additionally, 89 percent of workers hope to change jobs in the next six months (c), with 84 percent also saying the economy has hindered their ability to change jobs in recent years (d). The Monster Meter, a product of Monster(R), the leading global online careers site and flagship brand of Monster Worldwide Inc. (NASDAQ: MNST), is an ongoing series of online polls that gauge users' opinions on a variety of topics relating to careers, the economy, and the workplace.
"Our survey indicates that company downsizing during the recent recession has certainly taken its toll on the average employee, resulting in an American workforce that is stressed and overburdened," said Steve Pogorzelski, president of Monster, North America. "As the job market makes strides, it is important for today's workers to seek the right balance to ensure happiness in their careers and their lives."
Recovery of the job market also has had profound impact on employers. As companies look to add talent to their workforce, they not only face the challenge of recruiting, but also retaining their existing employees. With 61 percent of workers overworked (e), 86 percent dissatisfied with their job (f) (up from 83 percent in 2003), and a vast majority hoping to change jobs, employers are tasked with sustaining their current roster to help maintain the economic growth many companies are experiencing. In fact, according to a poll of Monster employers, 74 percent are indeed concerned about retaining top talent as the economy improves (g).
Added Pogorzelski, "Retention of the workforce is going to be a critical point in the months ahead. As we embark on full economic recovery and job growth, the survival and success of many companies will depend largely on their ability to retain existing top talent. Our polls indicate that a vast majority of workers are dissatisfied with their jobs and ready for a change. Therefore, it is crucial for companies to invest in and nurture talent in their organizations, as they will be the people who drive future growth."
For additional information on this survey or to receive the complete chart findings from the 2003 and 2004 Work/Life Balance Surveys, please contact Kevin Mullins at 978-461-8751.
(a) The results of the current Monster Meter are based on 14,451 votes cast by Monster users from June 14th to June 21st, 2004 on the Monster homepage. Only one vote per user is counted toward the final tabulation. Anyone interested in voting in Monster's current online poll may do so by logging onto Monster at www.monster.com. Users may review the results of past polls by going to http://content.monster.com/polls/. These polls are not scientific and reflect the opinions of only those Internet users who have chosen to participate.
(b) The results of this Monster Meter are based on 26,469 votes cast by Monster users from March 22nd to March 29th, 2004 on the Monster homepage. Only one vote per user is counted toward the final tabulation.
(c) The results of the current Monster Meter are based on 12,936 votes cast by Monster users from July 5th to July 12th, 2004 on the Monster homepage. Only one vote per user is counted toward the final tabulation.
(d) The results of this Monster Meter are based on 12,989 votes cast by Monster users from June 28th to July 5th, 2004 on the Monster homepage. Only one vote per user is counted toward the final tabulation.
(e) The results of this Monster Meter are based on 14,923 votes cast by Monster users from March 29th to April 5th, 2004 on the Monster homepage. Only one vote per user is counted toward the final tabulation.
(f) The results of this Monster Meter are based on 15,780 votes cast by Monster users from June 21st to June 28th, 2004 on the Monster homepage. Only one vote per user is counted toward the final tabulation.
(g) The results of this Monster Meter are based on 697 votes cast by Monster employers on the homepage of MOHQ from June 25th to July 12th, 2004. Only one vote per user is counted toward the final tabulation.
Celebrating its 10-year anniversary, Monster is the leading global online careers property. A division of Monster Worldwide (NASDAQ: MNST), Monster works for everyone by connecting quality job seekers at all levels with leading employers across all industries. Founded in 1994 and headquartered in Maynard, Mass., Monster has 22 local language and content sites in 20 countries worldwide. Monster is the official online career management services sponsor of the 2004 U.S. Olympic Team. More information is available at www.monster.com or by calling 1-800-MONSTER. To learn more about Monster's industry-leading employer products and services, please visit http://recruiter.monster.com.
Special Note: Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the statements made in this release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve certain risks and uncertainties, including statements regarding Monster Worldwide, Inc.'s strategic direction, prospects and future results. Certain factors, including factors outside of Monster Worldwide's control, may cause actual results to differ materially from those contained in the forward- looking statements, including economic and other conditions in the markets in which Monster Worldwide operates, risks associated with acquisitions, competition, seasonality and the other risks discussed in Monster Worldwide's Form 10-K and other filings made with the Securities and Exchange Commission, which discussions are incorporated in this release by reference.