Nearly half of UK (48%) and US (44%) Gen Z and Millennial employees would consider taking a pay cut in order to work for an employer that shares their values, according to research by business advocate Paul Polman.
The Net positive barometer surveyed 4,000 British and American employees at medium to large private businesses with more than 250 members of staff, and found that 45% would consider resigning if their employers’ values did not align with their own. Two-thirds (66%) said they would be less motivated if their employer’s values did not align with their own, and 35% have already resigned from another position for this reason.
Around two-thirds (60% UK, 66% US) said their business has communicated with them about employee wellbeing, but this dropped considerably when it came to the environment (35% UK, 34% US), economic inequality (29% UK, 28% US) and social inequality (36% UK, 41% US). 70% of UK and 79% of US employees knew that their employer regularly reviewed all salaries and was taking some action to promote diversity and inclusion (71% UK, 81% US).
When considering a new job, 86% of UK and 93% of US staff believed pay and benefits to be important, with 87% and 93% citing approaches to wellbeing and work-life balance as key, respectively.
In addition, 41% said they were concerned about paying their bills, 69% were anxious about the future of the planet and society, and 64% said that the acceleration of global crises raises the bar of expectations for businesses.
Polman said: “The Net Positive Barometer is a wakeup call. Times have changed and employees no longer want outdated corporate social responsibility initiatives and a lack of action. Unsatisfied and unmotivated employees recognise the power is in the hands of the CEOs. They want to work for companies which work to tackle the world’s greatest challenges, and they want to play their part. Or they’ll leave.”