Pay remains priority as the prolonged period of economic uncertainty continues
HANOVER, Md., June 20, 2024 /PRNewswire/ — Aerotek, a leading workplace solutions provider in manufacturing, logistics, construction, aviation, facilities and maintenance, announced today its latest survey of job seekers shows Americans are prioritizing pay, job security and engagement as they endure longer job hunts in an uncertain economy.
The survey collected feedback from 1,433 job seekers representing various industries, shedding light on their evolving priorities and workforce challenges.
Job Seekers Are Becoming More Motivated by Job Security as the Prolonged Period of Economic Uncertainty Continues
While workers continue to prioritize pay in their job search, job security is on their minds as well. When asked to choose from a list of eight motivators, the number of workers reporting job security as the most important increased by 5% compared to spring 2023, and the number of workers reporting pay as most important increased by 4%.
|
Most Important Motivator When Deciding to Accept a New Job |
||
|
Spring 2023 |
Spring 2024 |
|
|
Pay |
36.5 % |
40.6 % |
|
Job Security |
14.3 % |
19.7 % |
|
Opportunities to Learn |
13.9 % |
11.5 % |
|
Potential for Career |
14.9 % |
10.9 % |
|
A positive or supportive |
10.8 % |
7.9 % |
|
The work is interesting |
4.8 % |
5.6 % |
|
Starting date |
4.0 % |
3.1 % |
|
The job is helpful to |
0.9 % |
0.8 % |
Despite rising wages, workers have a mostly negative feeling about their financial situation. That includes workers who responded to Aerotek’s survey saying they received a raise in the past year — a sign that inflation and economic uncertainty may be negating wage gains.
A staggering 81.2% of respondents feel the same or worse about their financial situation compared to this time in 2023. Of 486 respondents who received a raise in the last year, 71% still feel the same or worse about their financial situation.
|
How would you describe your financial |
All respondents |
Those who received a raise |
|
Better than 2023 |
18.8 % |
29 % |
|
Same as 2023 |
33.6 % |
36 % |
|
Worse than 2023 |
47.6 % |
35 % |
Workers Are More Likely to Stay If They Can Create Social Connections in the Workplace
According to a recent Gallup survey, employee engagement in the U.S. has dropped to its lowest level in more than a decade.
Aerotek’s survey findings reflect that engagement is a priority for job seekers, as 73.2% report that engaging with coworkers improves their feelings about a job, and 69.2% said they are more likely to stay at a job that promotes social connections.
Based on these insights, fostering a supportive and collaborative work environment can help managers boost employee retention and increase overall job satisfaction.
Despite Job Search Challenges, Workers Maintain Optimism in Finding Quality Employment Amid Economic Concerns
While the number of available jobs remains relatively high, workers looking for new opportunities are filling out more applications and waiting longer to hear back from employers:
|
Fall 2023 |
Spring 2024 |
|
|
Job Seekers Who Completed 100+ Job Applications |
10 % |
13.8 % |
|
Respondents Who Feel Their Job Search Experience Has |
53.6 % |
59.0 % |
|
*Compared to results from Aerotek’s previous Job Seeker Survey |
||
Employers may be adopting a more cautious approach, waiting longer to find the right hire. Unsurprisingly, 56% of job seekers identify the economy as their primary challenge in the job search. Despite this economic apprehension, 58% of respondents remain optimistic about securing quality employment.
For more detailed findings and insights, view the report here. To learn more about Aerotek and its staffing and services solutions, please visit Aerotek.com.
About Aerotek
Aerotek® Inc. provides staffing and services solutions in manufacturing, logistics, construction, aviation, facilities and maintenance. We provide the expertise, solutions and people required to rise to the challenges of North American industry. Headquartered in Hanover, Md., Aerotek operates a unified network of over 250 offices across North America, supporting more than 14,000 clients each year. Aerotek is an operating company within Allegis Group, a global leader in talent solutions. To learn more, visit: Aerotek.com | 1-888-AEROTEK.
About the Research
Aerotek’s most recent Job Seeker Survey was conducted as an independent online survey. 1,433 job seekers were asked about their career ambitions and employer preferences. Respondents were located in the U.S. and completed the survey between April 22, 2024 and May 3, 2024. The survey targeted job seekers who have applied for work since January 1 and were seeking jobs in the sectors Aerotek serves, including manufacturing, robotics and automation, facilities and maintenance, distribution and logistics, construction and other industries.
SOURCE Aerotek
