68% EMPLOYEES AROUND THE WORLD ARE UNHAPPY WITH THEIR SALARY

Fri 02 December 2022:

According to a new survey, only 32% of employees worldwide are satisfied with their current salary. The survey, conducted by consulting firm Gartner Inc, also revealed that employees’ feelings of unfairness stem primarily from a deep lack of trust in their employers. During the survey, the company interviewed 3500 employees from various fields of work.

Toxic culture, poor inclusivity, inadequate work-life balance and unfair experiences were found to be the top reasons behind the lack of trust seen in the employees. The main reason behind the survey was to determine the reasons behind the rise in resignations in the aftermath of the COVID-19 pandemic.

The Great Resignation – a name given to the phenomenon – involved almost all major companies in various sectors and the survey found that the salaries paid a big role in employees opting for other opportunities. It was also clear from the salary negotiations that were studied in the survey.

“Employee perceptions of pay equity aren’t rooted in compensation,” Tony Guadagni, senior principal in the Gartner human resources practice, said in a statement according to The Mint.

“Instead, the main driver of perception is organizational trust — when employees don’t trust their employers, they don’t believe their pay is fair or equitable,” he added.

However, the survey also said that the general perception is not in sync with the reality. Official data suggests that companies have worked towards closing pay gaps. According to the survey, eight in 10 organisations conducted annual pay equity audits to understand the situation better in 2022.

SOURCE: INDEPENDENT PRESS AND NEWS AGENCIES

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