Do you know what matters most to your employees? While it would be easy if there were a simple answer to this question, its way more complex. What matters most to someone can vary by their job type, experience, and generation.
Our Toronto recruiters always stress to our clients the importance of not lumping all employees and job candidates into the same category. The generation an employee belongs to can have a big impact on how they work, what they value and what matters most to them. There’s a need for companies to treat all employees well, but address what individually matters to them most. In this blog, we’ll discuss:
- Why it matters what matters to your employees
- What attracts people to new job opportunities
- What Matters Most To Baby Boomers
- What Matters Most To Gen X
- What Matters Most To Millennials
- What Matters Most To Gen Z
Why does it matter what matters to employees?
Employees have never been more willing to make a career move than right now. As employers, this should sound the alarm for your HR department. Keeping your best employees happy is essential to ensure they stay in-house. It’s also an opportunity for your recruitment team to find top talent outside your organization.
According to Gallup,
“Employees are watching for or actively seeking new job opportunities at the highest rate since 2015 — 51% are exploring new options. At the same time, employee satisfaction is at a record low, fueling what Gallup calls the Great Detachment: an era in which people are feeling increasingly disconnected from their employer.”
Understanding what employees value most in their jobs is essential for building a strong foundation for organizational success. By gaining insight into the key factors that drive job satisfaction, engagement, and motivation, companies can refine their recruiting strategies to attract top talent, enhance retention efforts to reduce turnover, and strengthen their overall employee value proposition.
So, we know why it’s important, but what is it that attracts people to new job opportunities?
What attracts people to new job opportunities?
Four main things span across generations, according to the Gallup study. None of the following should be a surprise. They are:
- Work-life balance and personal wellbeing: People don’t want to live to work. They want balance in their life.
- Better pay or benefits: Employees want to be compensated fairly for the work they do.
- Stability and job security: People want to be safe and secure in their job. They don’t want to have to worry about whether or not they will lose their job.
- A job that allows you to do what you do best: Employees want the opportunity to show what they can do and maximize their potential.
These are the things that are most important to job seekers. However, how they rank among different generations can vary somewhat. We look at what matters to each generation next.
What Matters Most (All Generations)
Here is the percentage of employees who find the following very important when considering a job with another company:
- Work-life balance and wellbeing (59%)
- Compensation (54%)
- Stability and job security (54%)
- A job where they can do their best (48%)
More than half of all people value balance, compensation and stability. This is a clear sign for companies that these are the types of things you should be focusing on with your retention and hiring strategies. Even though these things are important to all generations, the order of importance and the percentage of people in these cohorts varies to some degree.
What Matters Most To Baby Boomers
Boomers are the least demanding of all generations. There wasn’t one category where more than 50% of respondents chose a specific thing that matters to them. Compensation matters least to boomers, because many are in senior roles and balance and security are more important as they near retirement.
- Work-life balance and wellbeing (49%)
- Stability and job security (43%)
- Compensation (40%)
What Matters Most To Gen X
Gen X workers prioritize balance, job security and compensation at almost the same rate. Similar to Boomers, compensation matters least to Gen X.
- Work-life balance and wellbeing (56%)
- Stability and job security (55%)
- Compensation (54%)
What Matters Most To Millennials
Millennials now represent the largest generation in the workforce and are demanding when it comes to job expectations. They prioritize the three key factors when choosing a job at a higher rate than any other generation. This emphasis likely stems more from their life stage than generational traits. As many millennials advance in their careers and start families, flexibility and job security become essential.
- Work-life balance and wellbeing (65%)
- Compensation (59%)
- Stability and job security (58%)
What Matters Most To Gen Z
Gen Z workers are most concerned about their well-being and work-life balance. They are least concerned about stability, likely because they are willing to switch jobs frequently and are at the beginning of their careers.
- Work-life balance and wellbeing (59%)
- Compensation (56%)
- Stability and job security (54%)
A Final Word About What Matters To Employees
Understanding what matters most to employees is crucial for businesses looking to attract and retain top talent. While all generations share common priorities—work-life balance, compensation, and job security—their specific needs and preferences vary. Employers who take a more personalized approach, recognizing generational differences and individual values, will be better positioned to foster a positive workplace culture and long-term employee satisfaction. By aligning recruitment and retention strategies with what employees truly value, companies can enhance engagement, reduce turnover, and build a more resilient workforce.
More Insights About Managing Different Generations
5 Recruiting Tips for Attracting a Multigenerational Workforce
A List of the Most Sought After and Satisfying Jobs by Generation
