The scale of the crisis the world is experiencing this year is no secret. The coronavirus pandemic continues to affect the global economy and employment market. Unless scientists find a cure for the virus, there’s no assurance that the situation will improve anytime soon.
Despite this situation, the most recent job satisfaction stats revealed that more American workers are happier with their jobs now than they were before the pandemic. Surprising, isn’t it?
Let’s dig deeper into some of these fascinating employment numbers to better understand the intriguing stories behind them.
Interesting Job Satisfaction Stats, Facts, and Trends (Editor’s Pick)
- This year’s Workforce Happiness Index has gone up by 2 notches from 71.
- Indians were the most satisfied workers in 2019, and the Japanese the least satisfied.
- Potential for growth is the strongest driver of job satisfaction.
- 54% of US employees say they are very satisfied with their current job.
- The estimated cost of unhappy US workers is between $450 and $500 billion per year.
- Only 15% of the world’s 1 billion workers are engaged at work.
General Stats on Job Satisfaction
1. American workers are moderately happier with their job this year, based on the improved Workplace Happiness Index (73 out of 100) that is up from 71 last year.
The latest US job satisfaction statistics suggest that employees in the US are more content with their work compared to the previous year. This is amidst the numerous changes in the workplace due to the COVID-19 pandemic, leaving over 30 million people jobless. The poll involved more than 9,000 US-based workers.
2. 89% of Indians claim they are satisfied with their jobs, world data on job satisfaction shows.
The Randstad Workmonitor polled more than 13,600 employees in 34 countries in Q42019 to find out where job satisfaction is at its highest and lowest. The job satisfaction ratings reveal that Indian employees are happiest at work, with 89% saying they are very satisfied.
3. The Japanese are not only the least satisfied workers, but also the least likely to receive a pay raise.
The Japanese workplace culture is widely known for its fierce and intense nature. Aside from this, though, the issue of workplace bullying is also rampant in the country. This can be a major reason for workers to be unhappy. In addition, the data on job satisfaction shows that Japanese employees are the least likely to get a salary increase or a bonus for their work by the end of the year.
No wonder they have the highest percentage of dissatisfied workers, standing at 21%, out of the 34 countries surveyed.
4. The greatest contributor to job satisfaction among American employees is “potential for growth.”
Out of the 23 drivers of job satisfaction, survey participants ranked “potential for growth” as the most important factor. This implies that organizations need to revisit the career development programs they offer, and see if these are aligned with their employees’ career satisfaction paths.
5. 37% of full-time American employees considered “good work-life balance” as most essential to their career and work choices.
One of the things that define a healthy work environment is having a good work-life balance, and many aspiring employees are carefully considering this when choosing a job. It is, therefore, vital for managers to be able to maintain the balance between work and life to promote a stress-free workplace and prevent their employees from being burned out, statistics on job satisfaction in America indicate.
6. Wage satisfaction jumps the highest among millennials.
By rising a wobbling 9.8% among workers aged 35 and below, this stat shows that millennials’ job satisfaction is greatly influenced by their current salaries.
Nevertheless, employees between ages 33 and 54 continue to be the group most satisfied with their pay. This is to be expected, as we consider workers in this age bracket to be in their peak earning years.
In terms of underemployment, however, millennials with PhDs and MDs have the highest rates as shown in this interview statistics.
7. 43% of people would leave their current job for a 10% salary increase.
There’s a high probability that a worker would leave their job, if offered compensation that is 10% higher than their current salary. This should alert companies, as it could mean they can lose valuable staff to competitors in a blink of an eye. Moreover, it can adversely affect their employee retention rates.
Before it’s too late, check your job satisfaction statistics and schedule a meeting with your employees to discuss the matter.
8. The cost of unhappy workers in the US was estimated to be between $450 and $500 billion in a single year.
Having dissatisfied workers can be costly for US companies. Most likely, this is also true for organizations in other parts of the world. According to one of the world’s top 25 most influential scholars, Daniel Cable, the very reason for this prevalent employee dissatisfaction is creating systems that fail to recognize human biology in the workplace. That’s why companies that allow their employees to be creative and explore have higher satisfaction rates.
9. Only 15% of 1 billion full-time employees worldwide are engaged at work, employee engagement statistics show.
Over the years, organizations continued to face challenges in keeping a satisfied workforce. The recent Gallup statistics on job satisfaction indicated that a very large portion of the world’s 1 billion full-time workers is disengaged. More precisely, only 15% of workers are happy and productive in the workplace.
It’s either they hate their job, their boss, the company, etc. There can be various reasons for this and it’s the management’s responsibility to find out what the problems are and take necessary actions. Keep in mind that the performance of unhappy workers can be detrimental to the organization's growth.
Important Facts About Job Satisfaction
Job satisfaction is crucial to a company’s overall efficiency and success. Hence, it has become increasingly important for leading organizations to know how satisfied people are with their job.
Higher job satisfaction rates are tantamount to a greater number of happy customers the company is able to serve. This, in return, translates to higher organizational profitability.
10. Apart from being fast workers, happy employees also have 13% more sales compared to their unhappy colleagues.
What could this imply? The answer is pretty obvious. Job satisfaction has a direct relationship with productivity. It is therefore imperative for managers to be able to identify and nurture the factors that would make their employees happy.
By keeping your job happiness statistics constantly moving upward, you can expect the employee productivity levels to be going in the same direction.
11. Job satisfaction reduces employee turnover.
Employees leave their jobs for various reasons. In many cases, the primary cause of employee turnover is dissatisfaction, which could affect both the worker and the organization, statistics on job satisfaction show. If employees are generally satisfied with their job, there would be slim chances that they go on jumping from one job to another.
Using your job satisfaction data to improve employee happiness would help managers keep a stable and motivated workforce, resulting in reduced employee turnover.
12. Referrals reduce hiring times by 40%.
Employees who have been with the company for quite some time can easily attract candidates who are a better fit for specific positions and the company’s culture. This indicates that employee referrals have a higher conversion rate. According to employee satisfaction data, this might be more than beneficial for managers of all levels.
13. A company’s biggest expense are its employees.
In a recent study covering statistics on career satisfaction, the executive participants posited that 64% of company costs are labor costs or employee-related in another way.
HR costs involve both fixed and variable expenses and require careful planning. Low employee satisfaction can significantly deplete the variable aspect of the equation. This means that the more dissatisfied workers you have, the more you’ll have to invest. Dissatisfied employees require specialized training, additional career support and assistance, and in case of employee turnover, you’ll ultimately incur rehiring and retraining expenses.
Job Satisfaction Statistics 2020
14. 54% of American workers confirm that they are very satisfied with their current job.
It’s surprising that, with all the issues happening in the world this year, more than half of the US workforce displayed a high overall satisfaction level with their present work, compared to the satisfaction recorded in job satisfaction statistics for 2019.
Well, who won’t feel satisfied knowing they still have a job in times of crisis, when many others have lost theirs?
15. 38% of employees agree that they are happier with their jobs now compared to prior to the COVID-19 outbreak.
This aspect of the American job satisfaction statistics indicates a potential reevaluation of the workers’ general views and expectations on work, especially in light of the 14% unemployment rate. Accordingly, now, only 11% of workers wish they had a different job.
16. 34% of employees say their job has gotten somewhat harder after the pandemic.
Some of the possible reasons for this include issues with internet connectivity, homeschooling children while working full-time, and the risk of catching the virus for those working as front liners, among others.
17. Only 19% of people would like to work from home forever.
While working from home has its perks, such as the elimination of daily commute, no strict dress codes, flexible schedule, etc., it also has its disadvantages.
The statistics for job satisfaction show that more workers find it harder to work from home. That said, we won’t be surprised if just a small portion would want this setup to last. This particularly applies to those holding managerial positions.
In contrast, remote working statistics show that 38% of the organizations expect remote working policies to remain in place long-term or even permanently.
US Job Satisfaction Statistics
While the unemployment rate in the land of opportunity has reached an all-time high, standing at 14.7% in April, following the COVID-19 outbreak, it’s quite interesting to know that a majority of American employees feel good about their jobs at present.
18. The job satisfaction rate in the US rose to 54% from 51% in 2019.
This job satisfaction gain is hugely attributed to improvements in the labor market. It also marks the highest increment in job satisfaction in the US in more than two decades.
19. Job security became more important for employees.
The 2,000 workers who participated in a survey were asked to rank 23 aspects that influence job satisfaction. The findings show that people are ranking job security higher than before, with a recorded increase of five points compared to the previous year.
Even without referencing this job satisfaction data analysis, the rise in the importance of job security during a pandemic is inevitable. Having clear transparency and honest communication about the company’s long-term viability and stability would help organizations provide a sense of security to their workers.
20. 62% of full-time American employees are willing to take a pay cut to work for a company with a mission they believe in.
Monetary benefits, good work-life balance, potential for growth, and job security usually rank high on an employee’s list, job satisfaction statistics show. That said, a company’s mission is an equally important indicator of happiness at work.
The findings suggest that people don’t want a job only for the money. They want to feel that their skills and talents are appreciated and are put to good use, in helping the organization attain common goals.
Job Satisfaction Statistics by Profession
21. Recruiting managers are the most satisfied with their jobs.
Among the top 20 jobs with the highest satisfaction rates, the people who are most satisfied with their work hold the position of recruiting managers, a survey shows. The participants were asked to rank their job satisfaction on a 5-point scale, with 1 representing being very dissatisfied and 5 being very satisfied. Recruiting managers had an overall score of 4.6, making this one of the occupations with the highest personal satisfaction rate.
22. Video game creative director is the most satisfying career.
Another job satisfaction study conducted that used the so-called Holland Codes as a measurement technique found that video game creative directors are the happiest professionals, with an overall rating of 4.5. The respondents were asked five questions about their career histories. They responded to each question with a 1 to 5 grade, with 1 being very dissatisfied and 5 being very satisfied.
Job Satisfaction Rankings Based on Compensation
23. Product designer is the best paid job, with the highest satisfaction rating.
Salary may not be everything when it comes to choosing a profession, but it’s undeniably one of the most important considerations.
A report on careers with most job satisfaction reveals that product designers are the most satisfied with their work when compared to other higher-paid professionals. Their median salary is $100,000 and they rated their job satisfaction level as a 4.5 on a 5-point scale.
24. Surgeons ranked highest on median salary, at $304,000.
Job satisfaction survey results show that surgeons are among the highest-paid professionals, with an average salary of $304,000. Additionally, they have the second-highest score for meaningful jobs, standing at 96%.
In a nutshell, employment satisfaction statistics are important data that provide employers with helpful insights to aid in making decisions. Conducting employee satisfaction surveys on a regular basis and acting on the valuable information derived accordingly will keep the organization ahead of the curve.
We hope that you find these job satisfaction stats fascinating and of value!