Category Archives: employee communication

The High Cost of Caregiving

You may or may not be familiar with the story of Kristian Rex, a New Jersey man who cares for his elderly father, a former boat captain who once had “arms like Popeye” and who now — thanks to a debilitating stroke — is unable to perform basic, daily routines such as shaving himself. As shown in a recent award-winning commercial (for Gillette, no less), Rex Jr. must perform these and other tasks for his dad, and he does so with care and grace, as any good son would.

Many of us will find ourselves in Rex Jr.’s shoes one day, as the number of elderly in the U.S. continues to grow. In fact, an estimated 40 million Americans already serve as family caregivers and of those, 24 million juggle those responsibilities with holding down a job (Rex Jr. is a bit of an outlier, as women make up the majority of caregivers for elderly parents.) Nearly one in five adult children provide care for at least one elderly parent at some point, according to Boston College’s Center for Retirement Research. These caregivers spend an average of 77 hours per month with their parents, the Center finds, or the equivalent of about two weeks of work. Caregiving also exacts a mental and physical toll on health, with women caregivers reporting more pain and significantly higher out-of-pocket costs for their own healthcare, a study by the Center for Retirement Research finds. The study also finds that both male and female caregivers say they’re more depressed and suffer from poorer health because of parental care.

Many employers recognize the burden that caregiving employees shoulder: A new survey by the Northeast Business Group on Health (undertaken in partnership with AARP) finds that more than three quarters of the 129 mostly large employers surveyed agree that caregiving will grow in importance to their companies over the next five years. Respondents cited increased productivity, decreased absenteeism and reduced healthcare costs as the top drivers that would make a compelling case for investing in benefits that would make them “caregiver friendly” organizations.

“Family caregiving is an issue that affects the vast majority of us,” says AARP Chief Advocacy and Engagement Officer Nancy LeaMond. “We are either caregivers now, have been in the past, will be in the future or will need care ourselves.”

Fewer than half of the companies surveyed have programs or benefits designed specifically for caregivers, such as caregiver support groups, subsidized in-home back-up care for those being cared for, or counseling services. For those that do make such offerings available, communication appears to be an issue, with most saying their employees are only “somewhat” or “not very” aware of these benefits and services.

Plenty of compelling reasons exist for employers to get serious now about offering — and communicating — these services.

“The implications of this trend are significant not only for workplace productivity but for employee population health and healthcare costs,” says Dr. Jeremy Nobel, Executive Director of NEBGH’s Solutions Center. “Caregivers tend to abandon their own physical and emotional needs and employers need to plan for how to respond.”

Back From Vacation — And Stressed

That week in the Bahamas was everything you’d hoped it would be. And now it’s Monday, your first day back at the office — and life stinks.

If this scenario rings true to you (regardless of whether said vacation was in the Bahamas, Disney World or your own backyard), then take heart in knowing you’re hardly alone: Nearly two-thirds (62 percent) of 1,000 full-time U.S. workers polled by training and communications firm Fierce Inc. say they’re either more stressed or have the same level of stress upon returning to work after taking paid time off. The reasons why aren’t that surprising, with most respondents citing having to catch up on missed work, followed by having to readjust to “a work mindset” and needing to resolve major issues that arose while they were away.

Not all employees feel equally stressed, however, with only 14 percent of respondents who said they were “very satisfied” with their job feeling more stressed returning from vacation. Meanwhile, 38 percent of those who reported being unsatisfied with their jobs said they felt more stressed returning to work.

“The fact that returning to work is a stressful situation speaks volumes to the lack of support many employees feel both leading up to, and returning from, vacation,” says Stacey Engle, Fierce’s executive vice president of marketing.

Interestingly, while more than half of employees believe their managers support and encourage them to take time off, only 40 percent say the same of their co-workers. Once again, there’s a correlation between this factor and job satisfaction, with 57 percent of those unsatisfied with their current job saying no one encourages or supports them in taking paid time off, while just 18 percent of those who are very satisfied say the same. Lower-paid employees also report a lack of support, with 45 percent of those with annual household incomes of $50,000 or less saying no one encourages them to take a vacation. Meanwhile, less than 30 percent of employees who make $100,000 a year or more say no one encourages them to take time off.

Then there’s the perennial issue of under-vacationed Americans: Although a third of the Fierce survey respondents say they receive 20 or more vacation days each year, one in every five say they receive less than 10. Not surprisingly, younger and lower-paid workers tend to receive the least PTO days. By way of comparison, countries within the European Union require a minimum of four weeks (20 days) of paid leave for all workers, while a number of them(such as Germany and Switzerland) are even more generous.

Given that there is no national law requiring paid time off in the U.S., employees and HR need to keep the lines of communication open regarding the issue of vacation. As Fierce’s Engle says, “employees need to feel empowered to ask for what they need, and managers must be open to hearing concerns of these employees.”

The Trouble With Leadership

Unless you’ve been hiding under a fairly large rock lately, you’ve no doubt heard that Uber CEO Travis Kalanick was asked to resign from the company he co-founded, which went from a mere prototype in 2009 to a monster with a market valuation of $70 billion earlier this year. Of course, along with that (paper) wealth generation a whole lot of other things went on, including a series of ethically questionable decisions and allegedly rampant harassment and disrespect of workers by managers, including Kalanick and his direct reports.

Mr. Kalanick has plenty of company: Senior leaders in general are failing the grade, at least according to the employees who work for them. Less than half of U.S. employees (45 percent) have trust and confidence in the job being done by their organization’s top leaders, according to Willis Towers Watson’s latest Global Workforce Study. That’s down from 55 percent who expressed trust and confidence in their organization’s C-suite denizens for a similar study in 2014. Only 47 percent believe leaders have a sincere interest in employees’ well being, while just one in four (41 percent) think their organization is doing a good job of developing future leaders.

These low scores don’t bode well for an organization’s long-term success.

“The fact that a significant percentage of workers don’t believe their leaders are as effective as they can be is worrisome, given that strong leadership is a key driver of employee engagement,” says Laura Sejen, WTW’s managing director for Human Capital and Benefits. The Global Workforce Study includes survey responses from 3,015 U.S. employees from 441 American companies, out of a total of 31,000 employees and 2,004 companies from around the globe.

Employees tend to view their immediate managers much more favorably, the survey finds: 81 percent of U.S. workers say their managers treat them with respect, 75 percent say managers assign them tasks that are well-suited to their skills and abilities and 60 percent say their managers communicate goals and assignments clearly.

Unfortunately, there’s much room for improvement as well: Just a bit more than half (56 percent) say their managers make fair decisions about how performance is linked to pay and only half (50 percent) say managers have enough time to handle the “people aspects” of their job. Only 40 percent say their managers coach them to improve their performance.

What’s the solution? No clear-cut one, obviously, but it might be wise for HR leaders to help their organizations get serious about building a stronger pipeline of future leaders and helping current managers become better coaches.

“Given the increasingly important role that managers and supervisors are playing in defining the work to be done, motivating workers and ensuring a sufficient talent pipeline, many organizations are taking a keen interest in how manager behavior affects engagement and how managers can build more engaged teams,” says Patrick Kulesa, WTW’s director of employee research.

This Just In: Change is Awful

The saying goes that “change is inevitable.” But when it comes to the workplace, Americans would rather have none of it, according to the results of a brand-new survey from the American Psychological Association.

Employees in the U.S. who’ve been affected by change at work are more likely to report chronic work stress, less likely to trust their employer and more likely to say they plan to leave the organization within the next year compared to those who haven’t been affected by organizational change, according to the APA’s 2017 Work and Well-Being Survey, which is based on responses from 1,500 U.S. adults and was conducted on behalf of the APA by Harris Poll in March.

Half of American workers report having been affected by organizational change within the last year, are currently being affected by such change or expect to be affected by it within the next year, the survey finds. Workers experiencing recent or current change were more than twice as likely to report chronic work stress compared with employees who reported no recent, current or anticipated change (55 percent vs. 22 percent), and more than four times as likely to report experiencing physical health symptoms at work (34 percent vs. 8 percent).

Workers reporting recent or current change also were much more likely than other respondents to say they experienced work/life conflict and felt cynical and negative toward others during the workday (35 percent vs. 11 percent) and ate or smoked more during the workday than they did outside of work (29 percent vs. 8 percent).

There’s plenty more in the survey results, much of it dispiriting and depressing. The upshot seems to be that too many U.S. workplaces appear to be afflicted with leaders who’ve adopted a “do as I say, not as I do” mentality. However, this article that ran in McKinsey Quarterly a number of years ago (published by the consulting powerhouse McKinsey) offers some interesting food for thought that holds true today. One of its important points, as you may already know, is that people need to understand the point of change–why something is being changed, their role in helping the change succeed and how all of it will lead to better conditions for both themselves and the larger organization. The theme is that while change may be inevitable, the negative side effects shouldn’t be and don’t have to be.

 

An Extreme Twist on Team-Building

Tired of the same old activities designed to create a spirit of trust and teamwork among your employees? Survival Systems USA has an extreme experience to offer that could literally teach your workers how to sink or swim together.

The Groton, Conn.-based safety and survival education provider has taught underwater egress training and water survival techniques since 1999, delivering instruction to, among others, employees of the Sikorsky Aircraft Corp., the New York Police Department and the National Guard, as the New York Times recently reported.

In imparting survival skills to those who might have to use them on the job, “we’ve seen residual effects along the way: improved morale, self-esteem, capabilities people didn’t know they had,” Survival Systems USA President Maria C. Hanna told the Times. Until recently, she said, “we’ve never stopped long enough to say, ‘You know, this is something that can appeal to a market in a different way, using the tools from aviation to help people develop themselves.’ ”

The company has begun putting those tools to work in hopes of attracting corporate customers searching for drastically different team- and morale-building exercises.

In November, for example, Survival Systems conducted a one-day aquatic survival training program for a group of three university students, four personal trainers and the owner of a paving company, according to the Times.

These individuals—who ostensibly had no work-related reasons to undergo such training—spent the first part of the six-hour program jumping from a 14-foot platform into an indoor pool. With life vests inflated, they were then given a matter of minutes to find a way to stay warm while floating. Another task required those taking part to work together to board an inflated life raft under the direction of one member of the group.

Program participants spent the next part of their Saturday strapped into Survival Systems’ Modular Egress Training Simulator, which the Times describes as “a plastic and metal craft that can be arranged to resemble the cockpit of almost any helicopter or small plane on the market.” Meanwhile, other pieces of equipment duplicated the downwash from rescue helicopters and generated rain, darkness, smoke, fire and winds of up to 120 miles-per-hour.

Once inside the simulator, these brave souls were submerged and flipped into a pool as part of an exercise that includes three rounds. First, participants must reach for the simulator’s window frame, unfasten their seatbelts, pull themselves out and swim to the surface. The second round adds a degree of difficulty to the task, by closing the aforementioned window. In the third scenario, individuals must pretend their window is stuck and escape by holding onto the simulator’s seats and making their way to an adjacent, open window.

An instructor remains nearby at all times, “ready to whisk [participants] to the surface if anything goes wrong,” the Times points out, adding that “though no one has drowned during the training, the primordial fear remains.”

The same article notes that the curriculum for this program is still being fine-tuned, and this particular group was offered the training for free, in exchange for their feedback. The experience, however, will soon retail at roughly $950 per person; a price that Survival Systems says is in line with that of its other one-day programs.

Greg Drab, owner of Advantage Personal Training, has sent multiple employees—including the four trainers taking part in the November session—through the program at no cost, but sees the $950 as a bargain.

“You get to see how people handle stressful situations,” Drab told the Times. “This unifies the team.”

Now THAT’s Honest Feedback

There’s a saying that people want the truth until they get it.

Consider the leadership team at the Pennsylvania Turnpike Commission, who might regret asking interchange manager Michael Stuban to fill out an exit survey on his last day before heading into retirement.

Stuban, who spent 35 years with the organization, offered his two cents and then some.

In a recent interview with The Philadelphia Daily News, Stuban described the “brutal” frankness with which he approached the online questionnaire.

“When they asked for an honest exit interview, I gave them one,” Stuban told the paper, with a bit of a laugh. “I sent it minutes before I officially retired.”

For what it’s worth, the 58-year-old Stuban wrote that he didn’t really want to retire just yet, and that he actually liked his job.

He may have enjoyed his work, but it seems he wasn’t so crazy about the people he worked for.

The “out of touch” executive-level managers at the helm of the “rudderless” agency, for instance, are “only looking out for themselves,” according to Stuban. He characterized the past five years at the commission as “terrible,” with “no morale” among employees.

These same co-workers were asked to take part in classes “where we were told we are not political,” wrote Stuban, who opined that the commission frequently hires incompetent employees “based on political connections,” according to the Daily News.

Stuban didn’t mince words when it came to the idea that corporate politics were not at work within the organization.

“That’s bulls—,” he wrote. “Jobs/promotions are filled by the politicians … it’s who you know, not what you know. Positions [are] created for people who are not qualified.”

And, Stuban apparently felt so strongly about the thoughts he was sharing that he had to disseminate them throughout the organization. Stuban emailed his completed exit survey not just to the HR department from which it came, but to more than 2,000 colleagues as well, according to the Daily News.

At least one of them found some levity in Stuban’s sentiments.

“Want to get away? Southwest is offering great fares … ” replied the employee, in a reference to the airline’s well-known commercial tagline.

Turnpike Commission Chairman Sean Logan didn’t find Stuban’s candor quite so funny.

Logan, a former Pennsylvania State Senator, was equally blunt in his reply, which went out to those same 2,000-plus turnpike employees, the Daily News notes.

“Mr. Stuban … I don’t believe we ever met, and after reading your exit questionnaire, I am grateful that we didn’t.”

According to the paper, Stuban was made aware of Logan’s brusque response, and, perhaps not surprisingly, felt the chairman failed to see the point of his missive.

“If it was an effective company and someone told you there are problems and no morale, you don’t have to believe me, but maybe someone should check into it.”

No one outside this particular organization can really say how accurate Stuban’s depiction of its culture may or may not be. And who knows how the commission has responded, or plans to respond, to the issues that Stuban alleges exist within the agency.

But if morale really is a problem there, then Logan’s reaction to Stuban’s candid, albeit harsh, feedback probably won’t encourage other workers to offer their honest (and invaluable) opinions to those above them. And that’s the organization’s loss.

Being a Black Professional Woman

I’m probably wrong going into this: posting something about what it’s like to be a black woman in corporate America when I’m white.

523400310-black-professional-womanI probably don’t get extra points for being a member of a mixed-race family
either. In today’s
hypersensitive, hyper-volatile,
racially divisive
environment, I tend to shy away from my biracial nephew’s political Facebook posts and stick to our shared summer-vacation pictures, and our beautifully diverse family updates. What right have I to even “Like” something I can’t possibly know?

But I decided to post this release anyway, about a documentary airing this coming Wednesday in Oakland, Calif., Head Not The Tail Productions’ Invisible Women: Being a Black Woman in Corporate America. Not because I’m vying for any points, but because what happens to black women in or pursuing corporate careers should be something we all take seriously. And dealing with it should be all our jobs as well.

The disappointment, discrimination and rejection described by the many women in the documentary (the link above includes another link to a short teaser trailer worth watching) is often subtle, say diversity experts, as is corporate unconscious bias, which we’ve reported on on our website and here on HRE Daily.

“In conducting the research, we found the corporate practice of discrimination to be a common harsh reality faced by countless women of color,” says Melody Shere’a, HNTT Productions’ founder and CEO, and director of the film. As her release states,

“The playing field isn’t level and well-qualified black women are too frequently denied the opportunity to explore similar career-growth opportunities as their white and other female counterparts. The facts and details you will learn from this documentary will surprise you.”

Granted, most of you are nowhere near Oakland, Calif., but I imagine a call to Shere’a at the number provided in her release would prove fruitful in getting your hands on the film. It’s worth a try. You can’t improve diversity in your corporate culture if you don’t fully understand all forms of discrimination and how they’re being perceived by those on the receiving end.

For that reason, I encourage you to give this a read as well, a professional black woman’s response to a white friend of hers asking for a better understanding of white privilege. Like the documentary, this piece by Lori Lakin Hutcherson, founder and editor-in-chief of Good Black News, centers on the subtleties she has had to contend with throughout her career — including her education at Harvard University. As she details for her friend:

“When I got accepted to Harvard — as a fellow AP student, you were witness to what an academic beast I was in high school, yes? — three separate times I encountered white strangers as I prepped for my maiden trip to Cambridge that rankle to this day.

The first was the white doctor giving me a physical … .:

Me: ‘I need to send an immunization report to my college so I can matriculate.’

Doctor: ‘Where are you going?’

Me: ‘Harvard.’

Doctor: ‘You mean the one in Massachusetts?’

The second was in a store, looking for supplies I needed from Harvard’s suggested ‘what to bring with you’ list:

Store employee: ‘Where are you going?’

Me: ‘Harvard.’

Store employee: ‘You mean the one in Massachusetts?’

The third was at UPS, shipping off boxes of said ‘what to bring’ to Harvard. I was in line behind a white boy mailing boxes to Princeton and in front of a white woman sending her child’s boxes to wherever:

Woman, to the boy: ‘What college are you going to?’

Boy: ‘Princeton.’

Woman: ‘Congratulations!’

Woman, to me: ‘Where are you sending your boxes?’

Me: ‘Harvard.’

Woman: ‘You mean the one in Massachusetts?’

I think: ‘No … the one downtown next to the liquor store.’ …

The point here is, if no one has ever questioned your intellectual capabilities or attendance at an elite institution based solely on your skin color, this is white privilege [or bias, as some might say].”

A later example comes from Hutcherson’s work as a film and television writer/producer:

“While writing on a television show in my 30s, my new white male boss — who had only known me for a few days — had, unbeknownst to me, told another writer on staff he thought I was conceited, didn’t know as much as I thought I did, and didn’t have the talent I thought I had.  And what exactly had happened in those few days?  I disagreed with a pitch where he suggested our lead female character carelessly leave a pot holder on the stove and burn down her apartment. This character being a professional caterer.

“When what he said about me was revealed months later — by then he’d come to respect and rely on me — he apologized for prejudging me because I was black and female. I told him — not unkindly, but with a head shake and a smile — that he was ignorant for doing so and clearly had a lot to learn. It was a good talk because he was remorseful and open. [The subhead of her piece, by the way, is “Nobody is mad at you for being white.”]

“But the point here is, if you’ve never been on the receiving end of a boss’ prejudiced, uninformed ‘how dare she question my ideas’ badmouthing based solely on his ego and your race, you have white privilege.”

If ever there was a compelling treatise on what goes on between the races inside our buildings of business as opposed to the far-more-combustible streets below, especially over the past year, this is it.

Hutcherson’s last example, especially, should give us all pause: Perhaps the only way to shore up the divides, even at their most subtle, is to start — whether we’re the CEO, the head of HR or a direct supervisor — by admitting that certain behaviors or patterns of communication that are allowed to exist in business today are just wrong. Then start the conversation.

And then the training, if necessary.

Does Your Firm Support Well-Being?

limeade_quantum_wbereportDid you know employee engagement and employee well-being are two different things? I kind of did, but this research by Limeade and Quantum Workplace (pictured at left) made the differences about as clear as they could be, given the subject matter.

The report, released last week, defines the two thusly:

“Engagement [is] the strength of the emotional connection employees have with their work, team, company and higher purpose. … Well-being [is] a state of optimal health, happiness and purpose.”

OK, different, yes, but clearly very related. In fact, that’s one of the report’s key takeaways: that when employees feel they have higher well-being, they’re more likely to be engaged in their work.

The survey of 1,276 employees across 45 U.S. markets found, more specifically, that 88 percent of employees who cited feelings of “higher well-being” (i.e., access to healthy options, the flexibility and freedom to pursue them and find balance between work and life, and a sense of belonging and value to an organization) also said they feel engaged at work, versus 50 percent for those citing “lower well-being.”

Moreover, 83 percent of those in the “higher” category say they enjoy their work versus 41 percent in the “lower” one, and 84 percent in the higher category say they’re loyal to their teams, versus 54 percent in the lower camp.

So, is all this an intuitive no-brainer? Well, yes and no, according to Dr. Laura Hamill, Limeade’s chief people officer and managing director of the Limeade Institute. As she puts it,

“The connection between well-being and engagement may seem intuitive, but there has been little research that statistically relates the two. These findings confirm the relationship and can serve as the foundation of taking companies from good to great.

“[This] connection is great news. It means that helping disengaged employees isn’t out of an organization’s control [and can actually, by enhancing retention and productivity, lead to] better business results. “

(Here’s another link to the study’s microsite with a cool video for your viewing pleasure.)

Also key to an employee’s feeling of well-being is organizational support, defined in the report as “the resources and nudges an organization intentionally provides to encourage well-being improvement.” More specifically, it says, “this research indicates that organizations should provide the policies, visible manager and leadership support, role modeling, encouragement and norms to fully support [that] improvement.”

(One interesting note: The study found managers to be the primary source of that support, or nonsupport, over and above executive leaders. “Managers,” Hamill told me, “can be the biggest obstacles to well-being improvement because they don’t understand its connection to team success or they are nervous about how to talk with their employees about their well-being. Organizations should educate managers about the impact of well-being on employee engagement — and give them the tools and support to make it a priority.”)

The numbers certainly bear out the importance of this organizational/managerial support. Seventy-two percent of people who felt their employer cared about their well-being also reported having higher organizational support, whereas only 7 percent of employees with lower organizational support reported feeling higher well-being. In other words, as perceptions of organizational support diminish, so do perceptions of well-being. So why is this finding important? According to the report’s authors,

“You’ve heard it before: It’s more expensive to replace an employee than to retain one. A 2015 study [‘The impact of human resource practices on employee retention in the telecom sector,’ published in the International Journal of Economics and Financial Issues] states that costs associated with a person leaving unexpectedly are usually 2.5 times greater than that person’s salary.

“So why not invest those dollars back in the people who already work for you to help retain them? Employees who feel they have higher well-being and who feel they have higher organizational support are more likely to want to stay in an organization — compared to those [in the lower groups].”

In fact, researchers found, about 98 percent of those who feel they have higher well-being and higher organizational support answered favorably to the statement “I would like to be working at this organization one year from now.” That number dropped to about 79 percent for people who feel they have lower well-being and lower organizational support.

Even more impressive in terms of sheer numbers, 99 percent of employees with high well-being and high organizational support recommend their employer as a great place to work.

“Employee engagement is the holy grail for many companies aiming to attract and retain top talent,” says Jason Lauritsen, director of customer success at Quantum Workplace. “[This report] validates this goal … .”

Coming Soon: ‘Facebook at Work’

facebookThere was a time not so long ago when most employees were blocked from accessing Facebook while at work. My, how times have changed: Next month, companies will be paying Facebook so their employees can use “Facebook at Work,” a suite of business communication tools that’s designed to compete with the likes of Slack and Microsoft Yammer. The new application has been in beta testing with large companies such as Royal Bank of Scotland, and its capabilities could include the use of artificial intelligence technology to “read the mood of employees, including how they feel on certain topics,” according to USA Today.

Although those two products and others such as Salesforce’s Chatter are well-established brands with large customer bases, the sheer familiarity of Facebook’s user-interface (Facebook has 1.71 billion active users) may give it an advantage in the marketplace, writes TechCrunch’s Ingrid Lunden.

Its advantage lies in the fact that Facebook at Work’s user interface, functionality and even sign-in are all based on Facebook. That makes it instantly easy and familiar to use for many professionals, who will already be at least familiar with the workings of the social network, if not using it on a regular basis. (And that is crucial in a landscape where many companies have struggled to get their workers to engage well on their in-house “conversation” platforms.)

Unlike the other services, Facebook at Work will be offered to clients on a “per seat” pricing model rather than a flat fee, which could make it more affordable for smaller companies, reports ZDNet’s iGeneration. Facebook has not disclosed any specific pricing information yet for the service.

Facebook at Work is part of a trend in which companies are trying to spur greater employee use of enterprise software by making it more simple and user-friendly, like Amazon, Google and … Facebook. It will be interesting to see its full suite of capabilities at the official launch, scheduled for Oct. 10 in London.

Job Satisfaction Hits New High

According to the Conference Board’s latest job satisfaction survey, the rate of job satisfaction among U.S. workers is at the highest level it’s been since 2005, with nearly half (49.6 percent) of workers reporting that they’re satisfied with their jobs. The Conference Board notes that job-satisfaction rates have increased steadily since 2010.

Of course, this also means that half of U.S. workers are not satisfied with their jobs. The latest number is also a far cry from the highs hit in 1987 and 1995, when the Conference Board’s survey found that 60 percent of American workers were satisfied with their jobs.

The strengthening economy is a big factor in the higher job-satisfaction rates in the latest report, says the Conference Board’s Michelle Kan, who co-authored the report. “The rapidly declining unemployment rate, combined with increased hiring, job openings and quits, signals a seller’s market, where the employer demand for workers is greater than the available supply.”

In other words, employees today have more options than they’ve had in some time, and they know it — and HR needs to pay attention to their needs. Indeed, while the Conference Board report finds that workers are most satisfied with their colleagues (59 percent), interest in their work (59 percent) and their supervisors (57 percent), they’re much less satisfied with their organizations’ pay and promotion policies. In fact, the five job components with the lowest satisfaction are promotion policies (24 percent), bonus plans (24 percent), the performance review process (29 percent), educational/job training programs (30 percent) and recognition/acknowledgement (31.5 percent).

Gad Levanon, the Conference Board’s chief economist for North America, tells the Wall Street Journal that the high satisfaction rates of 1987 and 1995 are unlikely to be repeated soon.

“It was a whole different world in terms of employee-employer relationships,” he said. “There was much more loyalty. People looked to their employer for more than a job, in many cases.”

Nevertheless, said Levanon, a satisfaction rate of 55 percent may be achievable.