Staying attuned to the pulse of your workforce is more critical than ever. As a leader in the staffing industry, it’s essential to understand the current state of employee sentiment. And by also being aware of key trends in compensation, perks and benefits, you can enable your clients (and your own company) to make smart and informed decisions to attract and retain top talent. 24 Seven’s newly released 2024 Salary Guide is based on a survey of over 2,500 professionals in the marketing, creative, technology, beauty, fashion and retail industries. Our findings shed meaningful light on critical elements of the modern employment landscape.

Employee Sentiment: A Barometer of Organizational Well-Being

Our survey reveals a notable drop in employee sentiment compared to the previous year. In 2024, only 48% of employees reported being happy in their job, a significant decrease from 70% in 2023. Similarly, the percentage of workers who feel valued by their employer decreased from 71% to 51%. Our survey also shows an alarming trend: Nearly half, 48%,  of employees report feeling more stressed out than ever about maintaining a healthy work-life balance. However, only 33% of survey respondents feel that their employer has made reducing employee stress a priority, which highlights a significant and problematic disconnect.

Collectively, the survey findings underscore the importance of proactively addressing employee morale, engagement and workloads. To improve sentiment, employers should consider benchmarking salaries and benefits, providing clear growth opportunities and prioritizing open communication and recognition.

Additionally, offering support to teams stretched thin or at risk of burnout is crucial. Staffing organizations can play a vital role here. By leveraging freelance, consulting and full-time talent solutions, organizations can alleviate workload pressures and maintain a positive work environment.

Competitive Compensation: The Driving Force Behind Employee Satisfaction

Financial compensation remains the top priority for people when evaluating an employer. A whopping 86% of employees expect a raise at some point in 2024. Employers must recognize the intrinsic connection between compensation and retention. With 31% of respondents dissatisfied with their current compensation — and 52% of those saying they are likely to leave as a result — it’s essential to regularly benchmark and adjust compensation packages to remain competitive.

Furthermore, our survey shows a surge in full-time employees taking on freelance projects, with 66% doing so in 2024 compared to 52% in 2023. This trend highlights the need for employers to ensure adequate compensation and consider offering opportunities for skill development and career growth within the organization.

‍

Read full article here