A new study from communications firm BCW shows that 52% of workers ranked job security as the most important factor of their work experience.
Although flexible and hybrid work models have dominated the headlines in recent years as the best way to keep professionals happy in the post-pandemic era, inflation and the threat of a recession have led to an evolution of priorities.
According to the study of nearly 13,500 people, 50% said they desired having a safe workplace, while 49% valued a competitive salary and good time-off policies. In fact, employers that address these specific factors could improve retention by 18%.
In comparison, the desire for flexibility actually ranked 12 on the overall list of workplace needs.
The study also identified one critical method of improving a company’s culture: honesty and transparency. Employers that prioritize a human-centric workplace have a 24% great chance of keeping employees on, and this number grows even more among Gen Zers.
Gen Z have already begun enacting some of the biggest changes to the workplace in recent years, and it appears that their needs differ from their older counterparts.
For instance, Gen Z ranked culture and leadership as more importance than pay, while Baby Boomers felt otherwise.
However, the overall desire for honest and supportive leadership was seen amongst all age groups, meaning that factors that can improve workplace culture will inevitably improve the experience for all workers.