HOBOKEN, NJ-Results of a new survey from Wiley suggest a positive organizational culture is the top non-financial factor impacting wellbeing at work for most individuals, but younger Gen Z workers place more value on flexibility.
While financial compensation is still extremely important to wellbeing at work, the findings of the latest Wiley Workplace Intelligence research report, The Emotional Paycheck: Going Beyond Traditional Compensation, indicate employees' priorities have evolved to include more than just a paycheck. The more holistic elements of employee wellbeing, such as culture, flexibility, location, and perks, are said to make up their "emotional paycheck."
For most survey respondents, a positive organizational culture is their top priority when it comes to non-financial compensation. The older the employee, the more they appear to value culture. Specifically, for those 35 to 44, work culture is deemed more important than location flexibility by a 10% margin (32% to 22%); for those 55 to 64, however, that margin grows to 18% (40% to 22%).
The younger adults in the Gen Z population, however, have a different priority, valuing flexibility more than culture. Respondents ages 18 to 24 are most likely to value work time flexibility, preferring it over a positive organizational culture by a 12% margin (34% to 22%). And personal time off (PTO) comes in a close third for these younger workers.
"Younger Gen Z workers appear to prize autonomy, a work-life balance, and the ability to customize their work time to fit their own needs and lifestyles," said Dr. Mark Scullard, senior director of product innovation at Wiley. "Our findings suggest, however, that as employees gain more experience and their responsibilities and priorities evolve, they may become more aware of the impact an organization's culture can have on their wellbeing."
While a competitive salary is clearly important to employees, the findings suggest culture actually tops money in terms of overall importance. Given a choice between culture and money, nearly three-fourths (73%) of respondents said a positive organizational culture is most important to them, while only 27% said working for a company that pays well is the most important.
Methodology
The data in this report are based on surveys completed by 2,013 individuals in North America. Respondents work in a variety of roles across a range of industries, with 58% having direct reports and 42% being individual contributors.
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