Ceridian Finds 69% of Small Business Employees Want to Evolve Their Career Yet High Turnover & Salary Concerns Persist

TORONTO, ONTARIO--(Marketwired - Oct. 28, 2014) - Ceridian 2014 Pulse of Talent reveals that small businesses, those with less than 100 employees, are faring better than larger organizations when it comes to overall employee engagement, however, more can be done to improve employee tenure, address salary concerns and refine communication. The annual Pulse of Talent survey was commissioned by Ceridian and conducted by Nielsen. Survey respondents were interviewed regarding their perceptions of employee engagement and loyalty, recruiting, training, job security, compensation, productivity, workplace wellness and employer branding among other topics.

Key findings amongst the small sized businesses include:

Small business employers provide an environment where employees feel more valued and recognized than larger organizations.

• 42% of small business employee respondents agree that the company cares about them, compared to 26% who work for companies with 1,000 or more employees
• 37% of small business employee respondents agree that the company recognizes them for a job well done, compared to 26% who work for companies with 1,000 or more employees

Small business employees are unlikely to stay in their current position for long. The employee has the desire to evolve their career with their current employer.

• 69% of small business employee respondents want to either do similar work but expand into different positions or explore different jobs and careers throughout their working lives
• 23% of small business employees have been at their current job for less than a year, compared to 13% who work for companies with 1,000 or more employees

Small business employees are more concerned about their salary and benefits than employees who work for larger organizations.

• Only 36% of small business employee respondents think that their pay is good
• More than half (53%) of small business employee respondents who would consider a new job or position outside of their company admit that the reason for looking for new job is that they don't believe they currently make a good salary
• Almost a quarter (22%) of small business employee respondents who would consider a new job or position outside of their company would look for a new job because they have inadequate benefits
• Only 28% of small business employee respondents say that their organization has a clearly defined compensation structure and policy

"Small businesses are making a concerted effort when it comes to employee engagement," says Dave MacKay, president of Ceridian. "Yet, keeping employees engaged is not just about keeping them happy - it is also about challenging employees to grow and rewarding performance. If people are unsatisfied in their job because they are not motivated to learn new skills or do not feel that they are being fairly compensated for the good work that they're doing, organizations can put themselves at risk of losing their top performers to the competition."

Small businesses can retain and help keep employees engaged by encouraging career progression within their organization. One way this can be done is by creating special projects and job rotation opportunities for those who want to remain within the organization, but are hungry for new challenges and assignments.

Communicating alternative financial incentives may be of value to their employees such as ownership plans and profit sharing. Small businesses can also look into offering non-financial benefits such as additional paid days off, tickets to experiences and technological resources. Previous Pulse of Talent studies have indicated that when it comes to rewarding employees, employers need to remain flexible and open to considering various options that may be of value to their workforce.

"Overall, better communication around salary decisions, as well as monetary and non-monetary reward incentives and workplace benefits can help alleviate employee concerns regarding compensation levels. If employees feel as though they are being justly rewarded for performance, they will look for opportunities to grow within their current organization rather than elsewhere," adds MacKay.

The Pulse of Talent survey provides valuable Canadian industry insight on workforce metrics, to help identify talent gaps, reveal opportunities and identify emerging trends within the workforce.

To download a whitepaper on insights for small business from Ceridian's 4^th annual Pulse of Talent survey entitled: Small Businesses: Shinning The Light On Employee Engagement, go to the resources section of the Ceridian For Small Business website.

About the survey

This survey was conducted by Nielsen on behalf of Ceridian using Nielsen's proprietary panel of Canadians. A total of 801 Canadians aged 18+ who are currently employed full time or part time by an employer's business (i.e. not self-employed) completed the online survey between May 2 and May 20, 2014.

About Ceridian

Ceridian Canada is part of the Ceridian group of companies. Ceridian is a leader in human capital management with more than 100,000 clients across the globe. Ceridian delivers trusted results and transformative technology. Our offering includes the award winning, cloud-based Dayforce HCM, LifeWorks, Powerpay and International Payroll. Ceridian is transforming the world of work. For more information about Ceridian solutions, visit www.ceridian.ca or call 1-877-237-4342.

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