As technology advances, the workplace is quickly evolving to include new roles, job requirements, and even workspace conditions. In the last few years, we’ve seen a dramatic shift in what workers value most, with money taking a backseat to trust and other intangible benefits.
Research conducted by The Conference Board of Canada has shown that trust has become a major deciding factor in career choices. A survey of over 55,000 employees in various industries found that trust has surpassed salary as the hallmark of job satisfaction.
The most trusted jobs are those that require a higher level of responsibility. The report found that workers in positions of authority such as directors and executives ranked high in trust with the organizations they work for. On the other hand, trust was lowest for those in entry–level roles or positions with limited authority.
Not only do employees trust their organizations, but employers also trust their employees. For example, many organizations allow their employees to work from home, knowing that they can trust their employees to put in the same amount of effort and dedication even when not in the office. Additionally, many employers are allowing for more flexible working hours, trusting that employees will put in the necessary time to do the job right.
The report also showed that trust is more important than money when it comes to employee retention. Employees surveyed reported feeling more loyalty to their employers when they felt they could trust managers and colleagues. Furthermore, employees who felt trusted at work were more likely to stay at their job even if they had better offers that paid more.
In order to keep employees motivated, many organizations are beginning to shift their focus to building a culture of trust. What’s more, many employers are now emphasizing equitable compensation, investing more time and energy into creating a workplace where employees feel appreciated and valued for their contributions.
The takeaway from the report is clear – trust is far more important than money in the workplace today. Organizations that can foster a sense of trust between employees and management will be better able to attract and retain top talent. By creating a culture of trust, organizations can ensure that their employees are motivated and engaged with their work.