Southern Cross survey identifies job satisfaction indicators that could help kiwi employers avoid the 'Great Resignation'

New research from Southern Cross Health Insurance is giving New Zealand employers a heads up on how they can safeguard themselves from the 'Great Resignation' and value their employees, with a survey that measured job satisfaction in the Covid-19 era.

The Great Resignation is a worldwide Covid-19 phenomenon where employees leave their jobs seeking better remuneration and the work-life balance they may have caught a glimpse of during periods of remote work.

“There’s been many reports of a significant wave of people overseas reassessing their jobs in the face of the ongoing effects of the pandemic, and New Zealand businesses have an opportunity to prioritise how to prevent the same from happening here," said Nick Astwick, CEO of Southern Cross Health Insurance.

So far, widespread resignations have not yet hit New Zealand and Southern Cross Health Insurance surveyed participants across a wide range of sectors to measure their level of job satisfaction and how Covid-19 may have influenced it. 

Despite some findings that were fairly positive considering the level of upheaval across the workforce, there is room for improvement and it will be important for employers to monitor the job satisfaction of their employees, particularly as borders re-open and opportunity knocks.

“Businesses already have difficulty filling roles in a tight labour market, and this will only get worse if they have large numbers of unhappy employees silently looking to move on. There is also a huge risk that New Zealand will lose a large swathe of young people, and the upwardly mobile, who want to move overseas after two years of closed borders," said Astwick.

During the times when overseas has been off the table, Covid-19 has promoted a sense of gratitude for the stability of being in employment for many, with 46% saying they were grateful for having their job.

Getting behind the (now waning) 'we're all in this together' aspect to Covid-19, people in the 'helping' industries experienced even higher levels of gratitude, with workers in healthcare and social assistance 49% 'grateful' and those in education and training 63%.

In these professions, a supportive team and employer was a large part of their reported job satisfaction. Just over half of those who worked in education and training (53%) said this was the best thing about their job, while 41% of those in the healthcare and social assistance agreed.

Those in education and training were also most chipper about getting on with the working day, with 55% saying they enjoyed going to work most days.

Overall, just over a third (35%) of those surveyed felt positive most days.

While the elusive 'dream job' had been attainable for some, the majority of the workforce is still striving. Twice as many men (15%) as women (7%) reported this level of workplace nirvana, according to the survey.  

Human aspects outranked pay and flexibility when it came to job satisfaction with 34% saying a supportive employer or team was the best part of their job.

In a heartening finding, 30% of those surveyed said their work colleagues feel like friends or family. These sentiments skewed higher towards female workers, with 38% of women valuing a supportive environment compared to 26% of men, the survey found.

Astwick pointed to the balance that exists in the employer/employee relationship: when employers provide wellness benefits, employees feel valued and are more inclined to support and show loyalty to their employers in turn.

“Getting those conditions right can mean greater retention of staff. There’s no denying the impact that employee turnover has on an organisation’s productivity and bottom line, so investment in building a purpose-driven culture that also encourages a feeling of belonging can help to retain a motivated and engaged workforce,” he said.