Cornerstone OnDemand survey finds employees are motivated by more
than money and will make significant sacrifices in search of career
satisfaction
SANTA MONICA, Calif.--(BUSINESS WIRE)--
While a competitive salary, company perks and an exceptional office
culture may seem enticing to the American workforce, a new study shows
there are more important factors motivating employees to make critical
career decisions. A recent Cornerstone
OnDemand (NASDAQ: CSOD) survey conducted by Kelton Global reveals
that career satisfaction and work-life balance are the top reasons
American employees stay at their current jobs (38 percent combined),
while nearly three in ten (29 percent) resign due to work overload and
lack of healthy work-life balance.
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Cornerstone OnDemand's "Career Trends Report: Employee Pursuit of Purpose" is the first in a series of research that examines the constantly evolving multi-generational workplace, the motivations of today's American employees and the expectations of HR professionals. The survey findings suggest that employees make impactful career decisions based on the perceived level of happiness they will gain. (Graphic: Business Wire)
What’s more, employees will make life-altering decisions and
considerable sacrifices in order to find a sense of satisfaction,
fulfillment and purpose in their careers. In fact, 89 percent of
employees would consider making a lateral career move with no financial
incentive for multiple reasons, including to start an entirely new
career (41 percent) or take on a professional challenge (40 percent).
Additionally, relocating to a different city, state or country is a
desirable career move for 77 percent of employees.
In a strong, employee-driven job market, these sentiments can have
serious implications for U.S. employers when it comes to recruiting new
talent, as well as engaging and retaining current employees.
The Changing Workplace and How to Keep Up
In its inaugural year, Cornerstone’s “Career Trends Report: Employee
Pursuit of Purpose” is the first in a research series that examines the
constantly evolving multi-generational workplace, the motivations of
today’s American employees and the expectations of HR professionals. For
the purpose of this survey, “career” is defined as the pursuit of a
long-term professional goal that typically requires specific education
or training, whereas a “job” is described as a short-term activity to
earn money, usually not requiring specific education.
The survey findings suggest that today’s American employees make
impactful career decisions based on the perceived level of happiness
they will gain. They are motivated by professional growth opportunities
– including lateral career moves – that promise purpose and fulfillment,
not necessarily a promotion or bigger paycheck.
Key survey findings include:
-
Lateral Opportunity Leads to Loyalty. While 89 percent of
employees would consider a lateral move within their company – a
position with the same or similar title and pay grade but in a
different department of an organization – only 27 percent of them
would consider a lateral move to work for a different company. Of
those who would consider a lateral move, nearly six in ten (57
percent) would do so for a position with greater personal
satisfaction. Sixty-six percent of employees will first look to see if
there is an interesting and open position at their current company
before looking elsewhere. In fact, more than one in five (22 percent)
employees have already made a lateral move at their company.
This
suggests employees want to remain loyal to their current employers but
only if they feel growth opportunities are abundant. In most cases,
however, employers don’t offer lateral opportunities. According to the
survey, only 32 percent of respondents say their employer encourages
employees to work in different departments to gain additional
experience and skills.
-
The Single-Track Career Is Dead. The traditional notion of
climbing up the corporate ladder has gone by the wayside, trumped by
American employees’ quest to find a career with more purpose and
greater satisfaction. More than half of American employees (55
percent), including more than three in four millennials (76 percent),
expect to change careers – not just jobs – at some point. In fact, 42
percent of respondents say they expect to have three or more careers
in their lifetimes.
More than two-thirds (67 percent) of
America’s workforce who plan to change careers expect to do so within
the next four years. This reinforces the need for employers to offer
more opportunities for workers to keep them engaged and happy.
-
Employees Eager to Relocate. In the digital age, many employers
offer flex schedules or the ability for employees to work remotely.
More important than this type of flexibility to American employees,
however, is the chance to work in another city, even if just
temporarily. Seventy-seven percent of employees would choose to
relocate if given the opportunity. Additionally, more than six in ten
(61 percent) employees would go to great lengths to be able to work
abroad, such as conduct a web conference with their boss every day (39
percent) or work six days a week (28 percent). Surprisingly, only 15
percent of respondents say their employer offers relocation
opportunities.
Comments on the News
“Over the past few years, the workplace has changed dramatically. In an
employee-driven job market with Baby Boomers retiring, millennial
employee numbers increasing and Gen Z entering the workforce soon, we’ll
be seeing even more of a shift in employer-employee dynamics,” said Kim
Cassady, vice president of talent, Cornerstone OnDemand. “Companies need
to stay ahead of and adapt to these changes by creating visibility into
career paths that generate professional challenges and personal
satisfaction. The first step is to listen to employees and learn how
their unique personal needs intersect with their career ambitions. In
doing this, organizations are better positioned to lay the foundation
for an engaged culture rooted in continuous learning, professional
development and internal career mobility.”
“Employees are the frontline advocates for any organization – they truly
make or break a business. That’s why it’s so important for employers to
understand what motivates them,” said Kirsten Helvey, chief operating
officer, Cornerstone OnDemand. “What we’re seeing across our client base
is that the most successful brands are those that champion their
employees and give them opportunities to realize their full potential.”
Additional Resources
About the Survey
Cornerstone OnDemand’s Career Trends Report survey was conducted by
Kelton, a leading global insights firm, between September 16 and
September 30, 2015 among 2,000 Americans ages 18 years and over who are
employed full time and 546 HR managers or higher at companies with at
least 50 employees, using an email invitation and an online survey.
Results of any sample are subject to sampling variation. The magnitude
of the variation is measurable and is affected by the number of
interviews and the level of the percentages expressing the results. In
this particular study, the chances are 95 in 100 that a survey result
does not vary, plus or minus, by more than 2.2 percentage points for the
employee survey and 4.2 percentage points for the HR professionals
survey from the results that would be obtained if interviews had been
conducted with all persons in the universe represented by the sample.
The margin of error for any subgroups will be slightly higher.
About Cornerstone OnDemand
Cornerstone OnDemand (NASDAQ: CSOD) is a global leader in cloud-based
learning and talent management software. The company’s solutions help
organizations realize the potential of a modern workforce. From
recruitment, onboarding, training and collaboration, to performance
management, compensation, succession planning and analytics, Cornerstone
is designed to enable a lifetime of learning and development that is
fundamental to the growth of employees and organizations.
Based in Santa Monica, California, the company’s solutions are used by
nearly 2,600 clients worldwide, spanning 23.8 million users across 191
countries and 42 languages. To learn more about Cornerstone, visit us on Twitter, Facebook and
our blog.
www.cornerstoneondemand.com
Cornerstone® and Cornerstone OnDemand® are
registered trademarks of Cornerstone OnDemand, Inc.
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Source: Cornerstone OnDemand