HOBOKEN, NJ – Results of a new Wiley survey suggest that a positive organizational culture is the number one non-financial factor that impacts well-being at work for most individuals, but younger Gen Z workers place a greater value on flexibility.
While financial compensation remains extremely important to well-being at work, findings from Wiley Workplace Intelligence's latest research report, “Emotional Pay: Going Beyond Traditional Compensation,” suggest that employee priorities have evolved to include more than just salary. The more holistic elements of employee well-being, such as culture, flexibility, location and benefits, are said to make up their “emotional paycheck.”
For most survey respondents, a positive organizational culture is their top priority when it comes to non-financial compensation. The older an employee is, the more they seem to value the culture. Specifically, for those aged 35 to 44, work culture is more important than location flexibility by a margin of 10% (32% to 22%); For those aged 55 to 64, this margin grows to 18% (40% to 22%).
However, younger adults in Generation Z have a different priority, valuing flexibility more than culture. Respondents between the ages of 18 and 24 are most likely to value work time flexibility, preferring it to a positive organizational culture by a margin of 12% (34% to 22%). Personal leave (PTO) comes in third place for these younger workers.
“Younger generation workers seem to value independence, work-life balance, and the ability to tailor their work time to suit their own needs and lifestyles,” said Dr. Mark Sculllard, senior director of product innovation at Wiley. “However, our findings suggest that as employees gain more experience and their responsibilities and priorities develop, they may become more aware of the impact that an organization's culture can have on their well-being.”
While competitive salary is clearly important to employees, the results indicate that culture tops the money in overall importance. Given the choice between culture and money, nearly three-quarters (73%) of survey respondents said a positive organizational culture was most important to them, while only 27% said working for a company that paid well was more important.
methodology
Data in this report are based on surveys conducted by 2,013 individuals in North America. Participants work in a variety of roles across a range of industries, with 58% having direct reports and 42% being individual contributors.
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