Seattle, Wash., September 26, 2017 – A new survey by Eagle Hill Consulting finds that Seattle employees rank financial security as the number one factor for maintaining a positive work-life balance, twice as important than any other factor. Some 36 percent say financial security is the top factor for work-life balance, followed by hours worked (18 percent), physical/emotional wellness (17 percent), schedule flexibility (14 percent), commuting time (10 percent) and working from home (6 percent).
These findings are contained in a new study from Eagle Hill Consulting, The Wallet. The Weekend. The Workplace. New Data Shows How Employers Can Win the War for Talent in Seattle. Download the research here.
These poll results come at a time when American households finally are experiencing income growth after a prolonged stretch of stagnation. Earlier this month, the U.S. Census Bureau reported that median household income in 2016 was up 3.2 percent from a year earlier. This income rise is the highest level ever recorded for middle-class Americans, with median household incomes at $59,039. In the western U.S. states, households experienced a slightly higher increase in median income of 3.3 percent.
“Our survey is an important wake-up call for Seattle employers,” says Melissa Jezior, Eagle Hill’s founder, president and chief executive officer. “It’s no longer enough to offer lavish perks like nap pods, concierge services, meditation classes or a pet-friendly office to attract and keep talent. Seattle employees say that financial security is the foundation for work-life balance. They want companies to show them the money.”
Jezior explained, “Work-life balance is widely considered to be a driving factor in attracting and retaining top talent, and most employers in Seattle are delivering. About nine out of ten Seattle employees agree that they have a good work-life balance. However, companies that drill down and understand more precisely what workers need when it comes to balancing their careers and a life outside of the office will have a competitive edge. Clearly, salary is the biggest part of the work-life balance equation.”
The Eagle Hill survey finds that:
- As compared to other Americans, Seattle workers place a higher emphasis on the role of financial security in work-life balance (36 percent). At the national level, 28 percent of employees say financial security is their top factor for work-life balance, followed by hours worked (22 percent), schedule flexibility (19 percent).
- Despite their reputation for craving workplace perks over pay, younger workers place a high priority on financial security and they are willing to work for it. Some 34 percent of Seattle’s millennials cite financial security as the top driver of work-life balance and 87 percent say they would prefer higher pay and more hours in their current job rather than lower pay and fewer hours.
- Nearly three-fourths (74 percent) of Seattle workers view work-life balance as a key measurement of career success.
- The vast majority of Seattle employees say they have good work-life balance (87 percent). This holds steady across age groups with 88 percent of Millennials agreeing and 87 percent of non-Millennials agreeing.
- Over a quarter of Seattle employees say they are either very likely or likely to leave their jobs this year (27 percent). This number is substantially lower nationally (17 percent).
- Among Seattle respondents who say they do not have good work-life balance, 36 percent say they are likely or very likely to leave their job this year. Of those respondents who do have good work-life balance, 59 percent are unlikely to leave their job this year.
The Eagle Hill Consulting Seattle Work-Life Balance Survey 2017 was conducted online by Ipsos in January 2017 and included 550 private sector employees in the Seattle area. The Eagle Hill Consulting national Work-Life Balance survey was conducted by SSI in May 2016 and included 1,990 full-time professionals across multiple industries across the U.S. Both surveys polled respondents on work-life balance, career success and overall satisfaction with their current job and employer. The polls were weighted to reflect demographic factors including age, income, and gender.
Eagle Hill’s founders broke from the pack of large, traditional consulting companies to establish a firm that is truly collaborative, unified in nature and possesses an entrepreneurial spirit. The company has placed a heavy focus on attracting top talent and keeping them by creating an employee-centric culture that delivers meaningful work-life balance. As a result, Eagle Hill’s employee retention rate is 93 percent, and the company’s employee survey shows a satisfaction rate of 96 percent. The company’s highly qualified and happy workforce is uniquely positioned to help solve client business problems across various industries.
Eagle Hill Consulting LLC is a woman-owned business that provides management consulting services in the areas of business strategy, organizational transformation, human capital transformation, process improvement, program management and change management. Eagle Hill works with a range of public, private and non-profit organizations across the country with offices in the Washington, D.C. metropolitan area and in Seattle, WA. More information is available at www.eaglehillconsulting.com.