The pandemic has allowed employees to reflect on what is important to them – not only in their personal life but also their work life.
Indeed commissioned a 2021 Workplace Happiness Study conducted by Forrester Consulting which revealed that nearly 50% of people believe expectations around work happiness has increased over the last five years.
Whilst most people think pay is the most important aspect of work, when asked what actually makes you happy at work, the social elements of work proved to be more important than pay. For example, dimensions like being energised by work (17%), feeling belonging (12%) and having a sense of purpose (11%) all ranked higher than pay (5%).
This is a big wake-up call for employers who will have to make intentional and concerted efforts to not only retain their current talent but attract the talent they need to be leaders into the future. It is going to take more than just a large pay packet.
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