Income and Wages

How Workers Are Responding To Tight Labor Market

A survey being released today by Aon Consulting reveals many workers would change jobs if it improved their quality of life, not just for higher pay. Other factors -- including greater benefits, better career opportunities, improved job location or family considerations -- enter into the job-switching equation.

  • More than one-quarter of the 2,000-plus workers polled would switch jobs for a raise of 10 percent or less.

  • Some are even willing to accept pay cuts if they believe a change would bring about a better quality of life.

  • In high-tech fields, workers are willing to transfer to start-up companies that may not pay more but are on the cutting edge.

  • The poll discovered workers today have more loyalty to co-workers than they do to their employers.

The single factor most influencing worker commitment to a company is management's recognition of personal and family life.

Source: Stephanie Armour, "More Workers Quick to Pick Perks Over Pay," USA Today, June 15, 1998.

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