According to the newly released 2023 Employee Experience Trends report published by Qualtrics, employees are craving stability and security in the face of challenging economic times. This need is at odds with employees reporting worsening work-life balance, inefficient processes, and shrinking budgets.
“Employee expectations have fundamentally changed, and the progress we’ve made cannot be undone,” says Qualtrics Chief Workplace Psychologist Dr. Benjamin Granger. “But as the economic picture shifts and people focus on their basic needs, clear and open communication are essential. Employees want reassurance that their jobs are secure, and that they’ll get some relief from burnout after the disruption brought on by the confluence of COVID, an economic downturn, and geopolitical events.”
Specific data paints a picture of fewer employees feeling like they are paid fairly or that their pay is based on actual performance. The share of employees who feel they are paid fairly for the work they do fell to 61%, and half of all employees believe their pay is based on their actual performance. “Pay is understandably top of mind for employees, but organizations should also understand what tradeoffs they may be willing to make when it comes to pay to retain top talent,” says Granger. “Additionally, companies should conduct regular analyses to make sure employees are paid fairly with their industry peers.”
Inefficient processes and technologies are also taking a toll. Sixty-five percent of workers say work processes help them to be productive, down from 68% a year ago. Fewer employees report their technology helps them be productive compared to last year, falling from 68% to 63%. These challenges are causing negative effects, including 38% of employees feeling burned out, and 34% saying they are emotionally drained from their work.
Other data points include:
- 63% of workers with good work-life balance are willing to go above and beyond, compared with 29% of workers with poor work-life balance.
- Satisfaction with work-life balance fell from 73% to 71%. Smaller budgets mean employees will be tasked with doing more with fewer resources.
- When employees believe their organization is living their values, they are 23% more likely to stay for three or more years and 17% less likely to be at risk of burnout.
- Less than two-thirds (64%) of employees believe their career goals can be met at their current company.
Qualtrics XM Institute surveyed nearly 29,000 individuals across 27 countries in 3Q 2022.
Author Information
As a detail-oriented researcher, Sherril is expert at discovering, gathering and compiling industry and market data to create clear, actionable market and competitive intelligence. With deep experience in market analysis and segmentation she is a consummate collaborator with strong communication skills adept at supporting and forming relationships with cross-functional teams in all levels of organizations.
Sherril holds a Master of Business Administration in Marketing from University of Colorado, Boulder and a Bachelor of Arts in Psychology from Rutgers University.
