American’s Disenchantment with Jobs and Employers Grows

Not too thrilled with your job and your employer? You’re not the only one.

A new study has found that only 50% of American workers are satisfied with their jobs, down from 60% 10 years ago. A slim few, 14% said they were “very satisfied” with their jobs, according to a report by The Conference Board, a New York-based research organization.

“Rapid technological changes, rising productivity demands and changing employee expectations have all contributed to the decline in job satisfaction,” said Lynn Franco, director of the Conference Board’s Consumer Research Center, in a statement. “As large numbers of baby boomers prepare to leave the workforce, they will be increasingly replaced by younger workers, who tend to be as dissatisfied with their jobs, but have different attitudes and expectations about the role of work in their lives. This transition will present a new challenge for employers.”

Over the last nine years, dissatisfaction dropped among all income brackets. While 55% of workers earning more than $50,000 are satisfied with their jobs, only 14% were very satisfied. Of those earning less than $15,000 45% reported being satisfied.

Bonus plans, promotion policies, health plans and pensions were low on the satisfaction scale; however, the majority of Americans were most satisfied with their commutes to work and relationships with colleagues.

The collapse of Enron and other corporate scandals as well as outsourcing have left a bad taste in worker’s mouths and added to the level of dissatisfaction, the study found.

The Conference Board said that not addressing unhappy workers would be a mistake.

“Shrugging off employee disengagement would be a disastrous, short-sighted view creating lasting global repercussions for American business,” said Shubhra Ramchandani, North American Stakeholder Management Practice Leader at TNS, said in a statement.

The findings become even more alarming when coupled with a report released last summer that found that 40% of workers feel disconnected from their employers. And, that two out of every three workers do not identify with or feel motivated to drive their employer’s business goals and objectives. Worse yet, 25% said they showed up at work just to “collect a paycheck”. That study was conducted by TNS, a London-based research firm that conducts other surveys for the Conference board. The Conference Board also produces the Consumer Confidence Index.

Other findings of the most recent study include:

• The largest decline in overall job satisfaction, from 60.9% to 49.2%, occurred among workers 35-44.
• The second largest decline took place among workers aged 45-54, with the satisfaction level dropping from 57.3% to 47.7%.
• The smallest decline occurred among workers 65 and over. Overall job satisfaction declined from 60.8% to 58%, making this group the most satisfied with their jobs.
• The largest decline in job satisfaction took place among householders earning $25,000 to $35,000, with satisfaction falling from 55.7% to 41.4%. This income group expressed the second lowest level of overall satisfaction.
• The second largest decline was posted by householders earning $35,000-$50,000. This group experienced a decline from 59.7% to 46.7%.
• With less than 47% of householders claiming to be satisfied with their current job, workers in the Middle Atlantic and Mountain states are the least satisfied workers in the U.S.
• The East South Central region has the most content workers. Close to 59% of residents in these states claim they are satisfied with their jobs.
• Company promotion policies and bonus plans tended to be the lowest on the satisfaction scale.
• Educational and job training programs did not fare well either. Only 30% of workers claimed to be satisfied with these types of company programs.
• Workers also rated their wages poorly, with only 33.5% of householders expressing satisfaction with their pay.

The survey queried 5,000 households across all income levels and ages.