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If you’ve updated your resume recently, checked out online job postings or merely fantasized about leaving your job, chances are you’re not alone -- and your employer hasn’t the slightest idea. In their third annual Employee Satisfaction and Retention Survey, the compensation experts at Salary.com found surprising disparities between how employers and employees perceive job satisfaction.
A glaring example: While 27 percent of employers believed their employees had updated their resume, 42 percent of the approximately 7,000 employees surveyed actually had done so, illustrating just how much employers underestimate workers’ desire to actively search for a new position.
Employers and employees don’t see eye-to-eye on a number of additional issues related to job satisfaction, either. The 2007/2008 survey revealed the following misconceptions.
Why You Want to Leave
For the third year in a row, inadequate compensation was the leading reason employees leave a job, cited by 27 percent of employees surveyed and 36 percent of employers.
But where the two sides disagree most significantly was over the relationship between manager and employee. Only 6 percent of employees selected this as a reason for leaving a job, whereas 30 percent of employers said the relationship was an important factor.
Other top-ranking reasons employees cited as a reason to leave a job include:
- Lack of career advancement.
- Insufficient recognition.
- Inadequate professional-development opportunities.
- Boredom.
Why You Want to Stay
Good relationships with coworkers and managers, desirable working hours and attractive benefits were the top reasons employees cited for remaining in a job. Those results echoed last year’s survey, with one exception: Attractive compensation replaced job security in this year’s top five.
For men, attractive pay was the main reason for remaining at a company. Women rated good relationships with coworkers and managers and desirable work hours as their top reasons for staying put.
Interestingly, more than 50 percent of employees surveyed did not list any reasons for staying in their job this year.
How Much It Will Take for You to Leave
Employers underestimate how much of a salary increase employees are looking for when considering job offers. While 50 percent of employers said an increase of 8 percent to 15 percent is enough to lure current employees away, only 31 percent of employees agreed. In fact, 38 percent of employees surveyed said it would take an increase of 16 percent to 30 percent to entice them to move on -- and 17 percent said they would seek an even larger increase.
How Much Your Employer Will Pay to Retain You
If you do receive an attractive offer from another company, don’t expect your current employer to offer much to retain you. Even though the cost to replace a worker averages $21,000 -- a 40 percent increase over last year’s estimate -- employers on average are willing to offer just a 7 percent raise to entice a valued employee to stay. Though roughly half of employers surveyed said they “sometimes” make counteroffers, 35 percent said they never do.
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