Study: Workers Prioritize Work/Life Balance Over Pay

We all love seeing our bank balance grow, but nowadays, employees are more focused on the balance between their work and home lives. According to a report by career research site The Muse, work-life balance has surpassed compensation as the top priority for employees when deciding to stay at a job or look for a new one.

When it comes to work-life balance, the survey of nearly 7-thousand workers finds:

  • Gen Zers highly value a healthy work-life balance, with 60% citing it as the most important factor in evaluating a new job opportunity (versus 40% who say money is most important).
  • Millennials and Gen X also prefer work-life balance over income, but by a much smaller margin than Gen Z.
  • Across different racial and age groups, work-life balance was stated as the top priority when considering a new job.
  • A large majority (70%) consider a company's work-life balance when determining if it is a good fit.
  • More women (76%) rank work-life balance as their top priority compared to men (65%).

The survey also reveals:

  • Unhealthy, unsupportive work environments are the main reason employees leave their jobs, with 34% of respondents attributing their job search to toxic workplace culture.
  • Among generations, millennials are the least tolerant of toxic workplaces.
  • Remote job listings receive three times as many applications as those tied to specific locations.

While work-life balance is the undisputed priority for workers surveyed and compensation was a close second, other factors they consider in choosing a new job include:

  • Learning and growth opportunities (59%)
  • Office culture and colleagues' likability (59%)
  • Job perks and benefits (58%)
  • Job security (47%)
  • Company leadership (41%)

The Muse founder and CEO Kathryn Minshew says the findings from the survey show there’s been a shift from the traditional narrative that employment is just a trade of time and effort for money. This data proves that employees now expect much more from employers than just a paycheck.

Source: CBS News

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