A recent report by The Conference Board states that American workers are experiencing a higher level of satisfaction than ever before. In 2022, a total of 62.3% of U.S. workers expressed contentment with their jobs, which is an increase from 60.2% in 2021.
This surpasses the previous highest satisfaction rate of 61.1% recorded in 1987, when the organization began collecting this data. Job satisfaction among workers has steadily improved since its low point of 42.6% in 2010:
46.2% in 2011
47.3% in 2012
47.7% in 2013
48.3% in 2014
49.6% in 2015
50.8% in 2016
51.0% in 2017
53.7% in 2018
56.3% in 2019
56.8% in 2020
60.2% in 2021
62.3% in 2022
The report also identified the primary factors that contribute to job satisfaction. These include the quality of leadership (7.9%), organizational culture (6.9%), work/life balance (6.1%), interest in work (6.0%), and potential for future growth (5.1%).
The job switching that occurred during the COVID-19 pandemic may have something to do with the improvement in employee satisfaction. Those who switched jobs since the COVID-19 pandemic are far more satisfied with different aspects of their employment compared to those who stayed put, according to The Conference Board’s study.
A few examples:
- Overall job satisfaction is at 65.7% for job switchers compared to 62.1% for those who stayed put.
- When rating education/training 60.9% of those who switched jobs are satisfied compared to 44.5% of those who stayed in their current job.
- Potential for growth is at 62.2% compared to 50.2%.
- Wages are 66.4% compared to 55.6%.
- Flex time is 63.7% compared to 51.7%
Clearly, employees who switched jobs are receiving better pay, training, and wages, and have more flexibility and room for advancement. Employers interested in retention should take note and ensure they are rewarding their current employees and remaining competitive with their offerings.