Assuming you are still part of the workforce, you have your worries and concerns. Have you ever wondered if other people share your concerns? Suffice it to say that there are plenty of things to worry about. And we Americans are particularly good at worrying. The question for both employers and their employees is how the concerns can be effectively addressed.
What are the top five concerns among American workers? For the answer to that, we turn to the 2022 America@Work Report from Jobcase. It offers a ton of interesting data along with plenty of surprises. According to the report, here are the top five things American workers are concerned about right now:
1. Pay Not Keeping Up With Inflation
The number one concern is that pay is not keeping up with inflation. It ranked first on the list among 40% of the 4,000 workers surveyed by Jobcase. Truth be told, few people would probably be surprised by this one. Inflation is a hungry beast that just keeps taking more.
Inflation drives up prices on everything. From gas to groceries and clothing, everything costs more. People feel its effects personally and directly. What’s more, every report of more inflation only heightens worker concerns.
2. Inadequate Pay
The second concern, coming in at 26%, is inadequate pay. Inadequate pay can be the result of inflation, but it is distinct in its definition. General agency BenefitMall describes it as pay that is incapable of meeting a worker’s basic needs – like food, shelter, and clothing.
As a general agency connecting insurance carriers with benefits brokers, BenefitMall makes a point of staying abreast of the American workplace. They say that one way employers can address the issue, above and beyond giving raises, is to provide a range of non-medical benefits that free up money employees can put toward basic needs.
3. Employee Turnover
Employee turnover ranks third as a concern among 23% of American workers. This is curious given the financial stress so many workers face. And yet, it’s understandable to a certain degree. Employees who already feel overworked and underpaid are only made to feel worse when their colleagues leave and there is no one around to pick up the slack. Those left behind must work harder without any raise in pay. It can be challenging.
4. Lack of Promotions
Ranking fourth at 22% is a lack of promotions and opportunities. Traditionally, employees have looked at promotions as a way to both advance their careers and increase their earning power. The problem for employers is that promotions generally come with raises. If the money isn’t there, they may be hesitant to promote.
If the scenario persists long enough, it creates a vicious cycle in which employers are not promoting and employees are not giving their best anymore. Production lags, profits fall, and the cycle continues.
Approximately 21% said they are concerned with understaffing. The problem goes hand-in-hand with turnover in that it leaves employees overworked and underpaid. What makes understaffing more concerning to some employees is that it is separate from turnover. When turnover is a problem, employees leave faster than they can be replaced. When it comes to understaffing, there are not enough workers irrespective of turnover.
A lack of healthcare and retirement benefits took the sixth position at 17%. The fact that it didn’t rank first can be construed as good news to some degree. Still, health insurance and a retirement package take a back seat when people aren’t earning enough money to pay their bills. That should be the primary concern among employers struggling to hire.