The FINANCIAL — EY Global generations 3.0 research has found less than half of full-time workers place a “great deal of trust” in their employer (46%), boss (49%) and colleagues (49%).
The research also included a specific focus on Generation Z, aged 16-18, and found that the top factors respondents say will be “very important” in trusting an employer are if they provide “equal opportunity for pay and promotion” and “opportunities to learn and advance in my career.”
The online survey of more than 9,800 full-time workers, aged 19-68, at companies of varying sizes in eight countries, explored a wide variety of areas including: trust in employers, bosses and teams as well as factors behind trust, and lack of trust, in the workplace, found that the most important factor in determining trust in an employer is one that “delivers on promises.”
Among respondents that place “very little” to “no trust” in their current employer, the top factors that contribute to this lack of trust are tied to compensation, including “equal opportunity for pay and promotion” (48%); along with “lack of strong leadership” (46%); “too much employee turnover” (43%) and “not fostering a collaborative work environment” (43%). Full-time workers with a low level of trust in their company said it would influence them to look for another job (42%); work only the minimum number of hours required (30%); be less engaged/productive (28%).
Respondents in India, Mexico and Brazil are among the most likely to place “a great deal of trust” in their current employer (66%, 65% and 59%, respectively), and those in Japan, the UK and the US are the least likely to do so (21%, 33% and 38%, respectively). The research also looked at the factors that influence trust by generations and found that globally, baby boomers (aged 51-68) are the most trusting of their employer (51%), while Generation X (aged 35-50) was least likely to place a “great deal of trust” in their employer (41%).
The survey also revealed that globally 36% of respondents don’t expect to get a raise or bonus this year, with respondents in Germany, Japan, the UK and the US most likely to state this (54%, 51%, 44% and 38%, respectively). In most countries a higher percentage of women don’t expect to get a raise/bonus in 2016 than men.
For Generation Z, 3,207 teens aged 16-18 were surveyed about what trust factors were important for them in determining who they will trust the most when making decisions about their first full-time employer; and what impact their parents’ or guardians’ work experience has had on their decisions. The survey found two-thirds (66%) of respondents cited pay and promotion equity and opportunities to learn and advance as “very important” for trust in a current or future employer.
Karyn Twaronite, EY Global Diversity & Inclusiveness Officer, says:
“The purpose of Global generations 3.0 is to present a global snapshot of the state of trust in the workplace today, as well as gain meaningful insight into what people around the world consider most important. Giving individuals a forum to voice their opinions on what factors truly influence their level of trust in an employer, boss or team, can help organizations continue to build a culture that is more inclusive of all views and differences, as well as pave the way to be more progressive as modern trustworthy organizations, well into the future.”
Nancy Altobello, EY Global Vice Chair – Talent, says: “The findings underscore the importance of cultivating a workplace culture that values open communication, inclusive leadership and collaboration – the true building blocks of trust. Senior executives who understand the factors that impact trust within their organizations will be able to drive employee engagement and retention. We find that engaged employees make for the highest performing teams, which are then able to deliver exceptional client service and innovative solutions.”
Twaronite adds: “Our global research sheds some light on the determinants of trust across generations, including Gen Z. We found that parents of Gen Z often both positively and negatively impact the level of trust this next wave of talent are looking for in their future employers. The impact of their influence could be far-reaching, so by understanding these factors, and proactively taking action on them, employers, bosses and teams can help to build trust for the workforce of today as well as tomorrow.”
Some additional survey findings include:
Gen X is the least likely to trust among the generations. Globally, a higher percentage of full-time working baby boomers place a “great deal of trust” in their employer (51%), boss (52%) and team/colleagues (53%) than other generations.
The top leading aspects that are “very important” to a majority of global respondents ages 19-68 in determining the level of trust to place in their employer are: “delivers on promises” (67%); “provides job security” (64%); and “provides fair compensation and good benefits” (63%).
Fifteen percent of respondents globally had “very little” or “no trust” in their current employer. Among those who say they have “very little” or “no trust” in their current employer, the top factors that led them to say this were: “employee compensation is not fair” (53%); “does not provide employees with equal opportunity for pay and promotion” (48%); and “lack of strong leadership” (46%).
Only 32% of full-time workers surveyed globally say they have a “great deal of trust” that “there won’t be any negative consequences” to their career for taking time off for child or eldercare and 39% say this about paid parental leave.
The survey is EY’s third on workplace generational issues. In 2013, EY explored the interplay between generations in the workforce and how companies could maximize performance by actively managing the generational mix. In 2015, EY delved into work-life issues, particularly for millennials, to inform companies on the external factors that influence the decisions, ambitions and priorities of full-time workers globally.
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