Employees rank pay as their biggest concern, says study

TORONTO - Employees are most unhappy with their wages and concerned about the lack of development opportunities within their organizations, according to a study by The Beacon Group.

Compensation & Benefits was the lowest scored item on the survey with a failing grade of 49%. Learning, Growth & Development only fared slightly better with a score at 51%.

Over 31,000 employees from Canada, U.S and Mexico participated in the study between 2002 and 2007. The study was conducted by The Beacon Group, a leading HR advisement and services firm which has been tracking employee satisfaction at companies globally.

The quality of performance feedback on the job was also an area of concern, scoring 53%. Smaller companies below 500 employees performed a bit better in this category.

"The explanation may be as simple as the logistics of providing feedback in a organization which may only have a single location," said Shannon Couch, Vice-President Product Planning & Development at The Beacon Group. "When you know most of the people in your organization, it is often easier to provide open and ongoing feedback," she added.

"The lower Learning, Growth & Development score is concerning and highlights an area where organizations need to invest more time and resources," said Shannon Couch.

On the other hand employees say they are most satisfied with the level of Teamwork in their organization, scoring this category at 64%. Employees cited open communication and overall work environment as other strengths.

"Teamwork and collaboration ranked relatively high - even large organizations with more than 1000 employees," said Shannon Couch.

Individual results of the Employee Surveys conducted by The Beacon Group are completely confidential. The Employee Survey provided to these employees featured over 60 questions on their work environment.

Numerous companies across various industries have used The Beacon Group's assessment products and advising services to leverage their investment in Human Capital. The Beacon Group specializes in Employee Surveys, 360 Feedback Assessments, Early Talent Identification (ETI), Management Training, Applicant Management Software and Performance Management Systems. Clients including Mercedes-Benz, McDonald's, Xerox, Sony and SAP have used The Beacon Group's services to grow their thriving businesses. For more information visit www.thebeacongroup.ca.