Monster Global Poll Reveals Employee Loyalty is not Driven by Pay and Benefits Alone

Challenging work, career progression, recognition and supportive co-workers all contribute to creating a loyal workforce

MAYNARD, Mass., Sep 28, 2010 (BUSINESS WIRE) -- 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 a manager's work doesn't stop there, as having a solid team (21%) and being recognised for good work (21%) were also highly rated by workers polled.

Monster, the leading job matching engine and flagship brand of Monster Worldwide, Inc. (NYSE: MWW) posed the question, "Which one factor would make you most loyal to an employer?" to 40,170 jobseekers. The key findings were:

  • Good pay and benefits - 27%
  • Great boss and co-workers - 21%
  • Getting recognised for what I do - 21%
  • Challenging/interesting work - 20%
  • Opportunities for advancement - 11%

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%). However, these were the only countries to rate good pay and benefits as the foremost reason.

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.

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%). One fifth of workers worldwide felt this to be the factor most strongly applicable to them.

Perhaps more surprisingly, the opportunity for advancement was the least important factor in securing employee loyalty, with only 11% of poll respondents worldwide reporting so. In the Netherlands and Norway, this was exceptionally low with only 4 and 5% respectively stating it to be their main driver. Spain however, was an anomaly to the worldwide trend and reported this was the second most important factor, at 23%.

"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. "The results show that employers need to focus on the entire working experience, instead of just remuneration, to drive employee loyalty. Factors such as being recognized for good work, as well as providing challenging and interesting work, are equally as important and need to be fostered in order to build a loyal environment and workforce."

The results of the current Monster Global Poll are based on votes cast by Monster visitors. Only one vote per user is counted toward the final tabulation. The Monster Global poll, a product of Monster(R), the leading global online careers website and flagship brand of Monster Worldwide Inc., is a series of online polls that gauge users' opinions on a variety of topics relating to careers, the economy and the workplace. These polls are not scientific and reflect the opinions of only those Internet users who have chosen to participate.

About Monster Worldwide

Monster Worldwide, Inc. (NYSE: MWW), parent company of Monster, the premier global online employment solution for more than a decade, strives to inspire people to improve their lives. With a local presence in key markets in North America, Europe, and Asia, Monster works for everyone by connecting employers with quality job seekers at all levels and by providing personalized career advice to consumers globally. Through online media sites and services, Monster delivers vast, highly targeted audiences to advertisers. Monster Worldwide is a member of the S&P 500 index. To learn more about Monster's industry-leading products and services, visit http://www.monster.com. More information about Monster Worldwide is available at http://about-monster.com

 

SOURCE: Monster Worldwide, Inc. 

Monster Worldwide, Inc.
Matthew Henson, 978-823-2627
Matthew.henson@monster.com