At a time of a slowdown in the job market, as per the Monster Salary Index, most employees in various industries are satisfied with their jobs. The Index reveals that 75% of respondents believed that they are satisfied with their respective jobs.
Out of the various factors contributing to this level of satisfaction, employees were most satisfied with the relationship with colleagues and superiors, at a level of 92% and 87% respectively in 2018. It has been observed that the satisfaction with the level of pay has fallen to 21.6%. However, pay, job security and life-as-a-whole-satisfaction are the only values below 70, indicating a rather satisfying work-life even if, overall, we observe a slight decrease of satisfaction in all the categories in comparison with 2017.
Sharing his views on the findings of the latest MSI, Mr. Krish Seshadri, CEO, Monster.com, APAC & Middle East said, “Analysing employees’ job satisfaction-levels is essential to understand and measure the perceived quality of working conditions. This is pivotal as the working population spends close to 1/3rd of the day at work. Moreover, studying these developments also allows for HR managers to implement processes and improvements to control attrition rates. It is a positive sign that only 3 among all the recorded industries have the satisfactions level of less than 70% and none below 50%. This will help the respective sectors instill optimism in the economy, in-turn helping in the improvement of the general sentiment.’’
Sector-wise Satisfaction Level
The report further reveals that employees in the construction and technical consultancy, healthcare, caring services and social work, information and communication technology services, legal and market consultancy & business activities sectors are highly satisfied with their jobs.
Legal and market consultancy sectors have shown the highest levels of job satisfaction at 84% while respondents from the construction and technical consultancy have registered a close 83% level of satisfaction.
Meanwhile, information & communication technology services has registered the highest growth in the level of satisfaction amongst all recorded sectors, gaining 3% over the recorded satisfaction level of 75% in 2017. Education and research have registered the steepest fall in the satisfaction level to 53% in 2018 from 73% in 2017, while manufacturing and financial services, banking and insurance sectors have registered a 6% and a 4% fall in the level of satisfaction by the respondents.
The analysis presented in this report is based on the WageIndicator dataset covering the period of 3 years, from January 2016 to December 2018. The analysis is an indicator of industries where satisfaction levels are the lowest and where they are the highest, providing food for thought to HR leaders to deliberate what could be the steps taken to improve employee sentiment in their respective industries.