According to The Conference Board’s 2023 Job Satisfaction survey, American workers are happier than ever. The report highlights higher satisfaction across nearly all 26 components being evaluated, with gains in non-compensating factors such as work-life balance outpacing even those with better pay and benefits.
In general, 62.3% of American workers were satisfied in 2022up from 60.2% in 2021. That’s the highest level recorded since the survey began in 1987. Satisfaction increased for two consecutive years: 3.4 points in 2021 and 2.1 in 2022.
Job satisfaction has risen steadily for more than a decade, after hitting a record low of 42.6% in 2010 following the Great Recession.
“With unemployment at record lows, it’s a seller’s market for labor: American workers are reaping the rewards,” said Eren Selcuk, senior economist at The Conference Board.
“Job satisfaction increased across the board in 2022, and especially high for workers who changed jobs. While a mild recession in 2023 is likely to ease labor shortages and reduce job mobility, the impact on job satisfaction may be short-lived and minor. Demographic trends suggest that tight labor markets are here to stay, putting the onus on employers to compete for talent,” Selcuk added.
For his part, Allan Schweyer, principal investigator of human capital at The Conference Board, commented: “These results reveal that once workers are paid competitively, a strong workplace culture is the most important factor in keeping workers. Leaders gain more from offering hybrid and flexible work arrangements, and by emphasizing work experience and cultural factors, such as interesting work, reasonable workloads, and career growth opportunities.”
For more details about the survey, go here.
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