Nearly half (49 per cent) of executive leaders say financial stress often or very often prevents their frontline workers from doing their best work, according to a new survey by Dayforce Inc.
The survey, which polled more than 6,900 workers, managers and executives from companies with frontline workers across the globe, found 62 per cent of workers and managers said they somewhat or strongly agreed that company leaders understand the challenges faced by frontline workers at their organization.
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Indeed, roughly three-quarters of managers (76 per cent) and workers (72 per cent) said employees are at least moderately appreciated by their employer. Roughly half of managers (52 per cent) and workers (49 per cent) noted appreciation has increased since the coronavirus pandemic begun subsiding, as of May 2023. That said, executives were 22 per cent more likely than managers and 17 per cent more likely than frontline workers to say they feel appreciated by their employer.
A majority (83 per cent) of executives agreed that employees in their organization are paid fairly for the
work they do – 21 per cent higher than managers and 19 per cent higher than frontline workers.
However, when asked, respondents who are frontline workers and managers cited higher compensation (54 per cent and 55 per cent, respectively) was the No. 1 way their employer could make them feel appreciated, followed by increased paid sick/vacation days (40 per cent and 38 per cent), implementing or improving health benefits (35 per cent and 34 per cent), providing more flexibility (30 per cent and 34 per cent), providing more career development opportunities (31 per cent and 36 per cent), implementing or improving mental-health benefits (29 per cent and 31 per cent) and implementing or improving workplace retirement savings plans (30 per cent and 31 per cent).
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Seven in 10 (71 per cent) frontline workers expressed a high or moderate degree of connection to their employer, compared to 90 per cent of executive respondents. Notably, a majority of managers (89 per cent) and workers (86 per cent) said they’d consider leaving their current job for one with a better schedule.
Additionally, nearly two-thirds (65 per cent) of workers noted they want to advance in their company. When asked to what degree they believed the skills needed in their organization would change over the next three years, 72 per cent of all respondents said they thought there would be a moderate or high degree of change.
Read: 65% of employees looking to change jobs due to compensation, well-being: survey