Job fulfilment is more likely to grab the attention of potential and existing Generation Y workers than pay.
That’s according to a report by performance solutions firm iOpener Institute, reported by hrmagazine.co.uk, which attempted to analyse the opinions of 18,000 young professionals when it comes to aspects of job satisfaction.
The report, ‘Happiness at work – Maximising your psychological capital for success’, found Generation Y workers who take pride in the organisation and its work had a strong correlation with staying in their job.
In addition, the report found there was ‘virtually no correlation’ between increased levels of pay and the likelihood of staying in a job.
As a result, businesses advertising jobs in London, for example, may wish to prioritise their strong work ethic and social purpose over pay prices in order to attract Generation Y workers.
Jessica Pryce-Jones, director of the iOpener institute, commented on the figures to realwire.com: “This generation Y insight report provides an important wake-up call for management to pay attention to employee feelings of engagement, empowerment, purpose and future development if they are to retain and foster young talent in their company.
“Positive word-of-mouth recommendations across a Generation Y employee’s social network play a powerful role in attracting talent, and therefore provides employers with hard financial advantage,” she added.