Job Satisfaction Statistics: Keep Your Workers Happy and Your Business Healthy

Job Satisfaction Statistics: Keep Your Workers Happy and Your Business Healthy
ByIvana V.
January 14,2020

In this competitive market where unemployment is low, competition is fierce, and turnover is expensive, employers have been paying more attention to staff contentment levels in an effort to retain high-performing workers. And they are definitely on to something.

Recent research on HR and employee engagement has produced compelling evidence of the benefits satisfied and engaged workers bring to both their organizations and themselves. 

Job satisfaction statistics highlight the fact that happy employees really make a difference in any organization. Those who show up at work with an eagerness to overcome challenges, solve problems, and achieve set goals are the driving force of any business. Unfortunately, at the moment, only a third of the US workforce feels this enthusiastic about their job. 

This puts the ball in the employers’ court. They are the ones who can spike these numbers by showing employees they truly care, by rewarding hard work and dedication, and by making employee wellness and engagement a priority. To discover how employee happiness can boost an organization’s productivity and to learn how to deploy a winning staff engagement strategy, dive into our list of employee satisfaction and  engagement statistics.

Key Job Satisfaction Statistics - Editor’s Pick

  • 72% of surveyed professionals say having more work benefits would increase their job satisfaction.
  • 51% of US workers say they get a sense of identity from their job.
  • 13% of employed Americans are actively disengaged at work.
  • 30% of American workers say their job is “just a job to get them by.”
  • Only 46% of employees place “a great deal of trust”in their employers.
  • Employees who feel their superiors treat them with respect are 63% more satisfied with their jobs.
  • 79% of American workers say company culture is an important factor in job satisfaction.
  • 83% of millennials consider work-life balance to be the most important factor in evaluating a potential job.

Job Satisfaction Stats

Employees who feel their superiors treat them with respect are 63% more satisfied with their jobs.

(Harvard Business Review)

Employers who treat their workers respectfully have much to gain and nothing to lose. As a recent Harvard Business Review report confirms, when employees are respected by their leaders, their job satisfaction levels go up by as much as 63%. This, in turn, creates a 55% spike in engagement, while employees’ focus heightens by 58%. This work satisfaction report also shows that appreciated employees are 110% more likely to stay with their organization.

62% of employees in managerial positions report high job satisfaction levels.

(Pew Research Center)

Even though a management role entails a lot of responsibility and is often stressful, it comes with a set of perks that make up for it. Top-notch healthcare, paid time off, a retirement savings plan, maternity/paternity leave, and professional development programs are some of the core benefits that compensate for the stress and create good work-life balance. Pew Research’s job satisfaction statistics confirm that executives are particularly likely to say they’re ‘very satisfied’ with their jobs, compared with only 48% of those who work in manual or physical labor jobs.

72% of surveyed professionals say having more work benefits would increase their job satisfaction.

(Zoro)

The majority of employees feel that additional benefits would improve their overall job satisfaction. Medical insurance paid fully by the company is desired but not received by 58% of respondents, as is fully company-paid dental insurance (53%). Employee motivation statistics reveal that other perks workers desire but don’t get include work-from-home/remote days (40%), performance bonuses (35%), transportation allowance (32%), catered meals (31%), and student loan reimbursement (29%).

61% of employees with an annual family income of less than $30,000 say they are ‘very satisfied’ with their family lives, compared with 80% of workers whose family income is $75,000 per year or more.

(Pew Research Center)

But it’s not just the perks that matter. A study conducted by Pew Research Center on 5,000 working American adults from all 50 states shows that a higher income is directly related to overall satisfaction and happiness in terms of both professional and family life. Happiness and productivity at work statistics show that eight in 10 adults living in high-income households (with an annual income of $75,000 or more) reported being “very satisfied” with their family lives, whereas only six in 10 adults from low-income families (with an annual income of $30,000 or less) reported the same level of satisfaction.

51% of US workers say they get a sense of identity from their job.

(Pew Research Center)

Americans are divided on whether their job is merely a source of income or a more meaningful aspect of their lives that gives them a sense of identity. The same job satisfaction in the US study indicates a little over half of working Americans find purpose in their work. Another 47% of US employees say their job is just what they do for a living, while the remaining 2% hold multiple jobs and did not answer this question.

70% of adults working in education say their job gives them a sense of identity.

(Pew Research Center)

Some jobs are just more fulfilling than others. According to career satisfaction statistics, most educators (70%) think their work makes them who they are. Healthcare workers feel the same way, with 62% of them saying their job gives them a sense of identity. On the other hand, only 42% of people working in hospitality and just 36% in the retail or wholesale trade identify with their job.

79% of American workers say company culture is an important job satisfaction factor.

(Speakap)

When asked whether company culture is important to them, almost 80% of US professionals responded in the affirmative. Not only that: 57% said they would take a job with a competitor if they felt that company’s corporate culture were better than their current company’s. According to Speakap’s company culture statistics, respect and fairness, trust and integrity, and teamwork are the most important attributes of a strong culture.

More than 50% of CEOs say corporate culture influences productivity, creativity, profitability, company value, and growth rate.

(Recruit Loop)

And while eight in 10 employees consider company culture vital to workplace engagement, only five in 10 top managers recognize this. Recruit Loop reveals that a little over half of CEOs surveyed admit the effects of corporate culture on how productive and creative workers are, how much revenue the company generates, and how quickly it grows.

58% of US managers say they haven’t received any management training.

(Career Builder)

Perhaps the discrepancy between the percentage of workers and executives who understand the relevance of corporate culture can be accounted for by this shocking stat. CareerBuilder’s nationwide survey conducted on 2,480 US employers and 3,910 US workers reveals that nearly 60% of managers get into leadership positions without receiving any training for the task. According to these HR statistics, the biggest challenges executives name are dealing with issues between co-workers on their team, motivating team members, performance reviews, and creating career paths for employees. Basically, all the tasks they find daunting reflect their lack of managerial training.

23% of employees describe their leaders’ performance as “poor” or “very poor.”

(Career Builder)

Unsurprisingly, the same study found that almost a quarter of US workers rate their corporate leaders’ performance as “poor” or “very poor.” CareerBuilder’s job satisfaction statistics further explain that employees who are unsatisfied with their superiors think they don’t make an effort to listen to employees or address employee morale. Employees also cite a lack of transparency and honest communication, major changes made without warning, unreasonable workloads, and impossible productivity demands as reasons for their poor evaluation.

30% of American workers say their job is “just a job to get them by.”

(Pew Research Center)

Nearly a third of employed adults in the US work just because they have to. They consider their job neither a career nor a stepping stone to one. Luckily, the number of devoted workers who believe they are on the right path is higher, with 50% of respondents saying they view their job as a career. Another 20% of Americans believe their current job is the starting point that will lead to a career, according to recently published employment satisfaction statistics.

Only 25% of employees who quit their jobs cite money as the main reason for leaving.

(Officevibe)

Even though most employers are blissfully oblivious, with 89% of them thinking workers leave for financial reasons, in reality only 25% of employees abandon their jobs because of unsatisfactory pay. In fact, it’s usually the employer who chases people away. Officevibe’s turnover statistics show that 75% of people who end up leaving don’t quit their job; they quit their boss.

Women (44%) are more likely than men (39%) to leave their current job for a new one with a flexible work environment.

(Globe Newswire)

Women, who often need to juggle various responsibilities both at home and in the office, are more interested in a flexible work environment than men. Almost half of female respondents said they would quit their job to go work for a company that permits them to work from home occasionally, with flexible working hours. Men were less interested in this perk - only 39% of them would jump ship for this reason.

Men (40%) are more likely to leave their current job for a higher position in a different company than women (30%).

(Globe Newswire)

Better-ranking positions tend to motivate men more than flexibility. Yoh’s workplace statistics show that male employees often change jobs because of the prestige and power associated with executive roles. Their female counterparts are less inclined to switch work environments for a high-status position.

83% of millennials consider work-life balance to be the most important factor in evaluating a potential job.

(FlexJobs)

Achieving work-life balance is a priority for a handsome majority of millenials. A whopping 83% of people born between the early eighties and mid-nineties assess a potential job on how time-consuming it will be. If they judge it will leave little to no free time, millennials won’t accept such a position, as we can see from a range of job satisfaction statistics. When it comes to baby boomers, though, only 62% consider work-life balance a factor when deciding whether or not to take on a new role.

More than three-quarters of employees would not accept a better-paid job from a company that failed to act against employees who were involved in sexual harassment.

(The Manifest)

More money would not be incentive enough to attract professionals to a company with unethical practices. A 2019 study published by The Manifest shows that 79% of employees wouldn’t come to work in a firm that neglects to act on sexual harassment accusations. Other intolerable practices, as reported in these retention stats, include selling users’ data without their knowledge (76%), creating environmental problems (72%), and paying female or minority-background employees less (71%).

Workers who say their company provides equal opportunities are almost four times more likely to be proud to work for the company.

(Salesforce)

Creating a workplace where everyone’s voice is heard and all have the same chance of getting ahead exclusively based on merit is an excellent way of motivating employees. Working for an equal-opportunity company makes staff 3.8 times more likely to feel proud of their employer and team.

42% of employed Americans would change jobs for another that offers the possibility of working remotely, but only 24% would switch jobs for a shorter commute.

(Global Newswire)

Work place statistics let know that US employees deem remote work possibility more important than short commute when considering a job change. If offered a position in a different company that would allow them to get things done without coming into the office, 42% of employed Americans would accept it. A job closer to home with reduced commute time would motivate only a quarter of US employees to leave their current job.

Only 46% of workers have “a great deal of trust” in their bosses.

(Harvard Business Review)

A global study that included 9,800 full-time workers aged 19 to 68 from eight countries shows only 46% of workers trust their employers greatly. According to Harvard Business Review employee loyalty statistics, 39% of surveyed employees say they have “some trust,” while 15% report “very little” or “no trust at all.” Employers who want to improve engagement and retention should keep in mind that people believe a high level of trust in their company has a major influence on them being happier at work, staying at the company, doing higher-quality work, and recommending the company to others.

66% of Gen Z workers consider equal opportunity for pay and promotion as ”very important” factors that would influence their trust in an employer.

(Harvard Business Review)

To earn the trust of Generation Z, companies need to implement fair practices. Employee satisfaction statistics indicate that two-thirds of employees just entering the workforce consider equal advancement opportunities and merit-based salaries “very important” factors in shaping how much they trust their employer. Learning and advancement opportunities are also very important for 66% of young workers when deciding whether to trust their companies.

More than two in five workers have gained weight at their current job.

(PR Newswire)

Career Vision’s corporate wellness statistics reveal that 56% of the nation's workforce believe they are overweight, and 45% believe they've gained weight at their present job. When asked what contributed to their weight gain, 51% said sitting at a desk most of the day, 45% said they were too exhausted from work to exercise, and 38% blamed stress-eating.

28% of employees say their company provides gym passes, workout facilities, or wellness benefits, but 63% of employees from this group don't take advantage of those perks.

(PR Newswire)

Employee engagement statistics indicate that more than a quarter of companies try to keep their workers happy and healthy by providing workout passes. Despite this, 63% of people who have access to these wellness benefits do not use them. On the other hand, 64% of workers say their employers do not offer such perks, but if offered, 42% think they would take advantage of them.

With a job satisfaction score of 4.6 out of 5, recruiting managers report the highest job satisfaction levels.

(Glasdoor)

A job satisfaction by profession study published by Glassdoor in 2019 reveals that recruiting managers, with a median base salary of $70,000, tend to be happiest at work. Second place is shared by three professions: dental hygienists, who make $67,250 annually, sales operations managers ($93,000 per year), and product designers ($100,000 per year). All of these jobs have satisfaction levels of 4.5 out of 5. This data shows that, while money is important, it isn’t the decisive factor in determining how one feels about their job.

75% of US professionals think new technology is contributing to their job dissatisfaction.

(The Economic Times)

As many as three-quarters of American workers believe new technology causes dissatisfaction at work, only 20% say tech innovation and new gadgets are responsible for raising their job satisfaction, while 5% are indifferent. These employee dissatisfaction statistics reveal that fear of immediate job loss, concern about fewer jobs in the future, and poor workplace ethics are the main reasons for this dissatisfaction.

Employee Engagement Stats

Only 34% of US employees are engaged at work.

(Gallup)

But according to Gallup’s latest employee engagement statistics, the percentage of workers who are passionate about their job and feel committed to their work and their workplace is actually at an all-time high. The American analytics agency started conducting a yearly survey on employee engagement in 2000. In the nearly two decades since, the percentage of actively disengaged workers has never been lower, either. Employees who feel miserable about their work environment currently make up only 13% of the American workforce.

91% of highly engaged employees report being satisfied with their professional development opportunities.

(Bonusly)

But why is employee engagement important? Because it creates pleasant workplaces people don’t want to leave. When employees feel like valued team members whose contribution is recognized and appreciated, they are 87% less likely to leave their job, according to Recruit Loop’s retention statistics. The bottom line is that it makes more sense, financial and otherwise, to invest in keeping high-performance workers than to constantly spend money finding and training new personnel.

Engaged teams generate 21% more profit than their disengaged counterparts.

(Gallup)

When people are satisfied with their job, have good communication with their superiors and their colleagues, and set clear goals, they are motivated to achieve great results. And they often do. According to Gallup’s engagement statistics, teams that work in companies that nurture a high-engagement culture reward those companies with higher productivity, better customer engagement, better employee retention, and a 21% increase in profitability.

Employers who increase their workers’ engagement by just 10% can boost profits by $2,400 per employee every year.

(Recruit Loop)

Recruit Loop provides more detailed information on the financial rewards employers can reap if they increase worker engagement. Raising staff morale can also boost company profits. Getting employees to care just 10% more about the work they do and their company can bring in $2,400 per employee each year, according to these productivity stats.

Actively disengaged workers cost the US between $450 billion and $550 billion in lost productivity per year.

(Gallup)

Keeping severely disengaged workers - the ones who are so unhappy with their job they undermine the achievements of engaged employees on purpose - costs American companies a hefty sum each year. In fact, Gallup estimates the combined cost in lost productivity these workers cause amounts to $550 billion annually.

US companies spend $11 billion annually on employee turnover.

(Recruit Loop)

Staff rotation costs are another huge financial burden relating to employee engagement. Finding ways to keep workers motivated and truly connected to the company will ensure they are loyal to their organization. Failing to do this, however, means constantly having to search for new employees and spending time and money training them. Bearing in mind recent employee turnover statistics that reveal American companies allocate as much as $11 billion every year on replacing staff, it’s undoubtedly more profitable to retain existing workers.

47% of HR chiefs cite employee retention and turnover as their top workforce-management challenge.

(Workhuman)

As clear as it may be that employee retention is beneficial to any organization, HR leaders agree it is the biggest obstacle they encounter while managing personnel. Nearly half of HR specialists cite retention and turnover as the most challenging aspects of their job, followed by recruitment and culture management.

96% of employees believe showing empathy is an important way of improving employee retention.

(Forbes)

Employers who care openly about their staff have an excellent shot at earning their workers’ loyalty, according to Forbes’ employee retention statistics. Human capital is a company’s most valuable asset, so why not show some human interest in your workers? Celebrating important life moments, encouraging employees to use vacation time, providing company gym passes - these are all ways of showing the people who work for you that you care about them.

70% of organizations have adopted values-based employee-recognition programs.

(Workhuman)

Fostering employee engagement in an organization goes hand-in-hand with letting employees know their hard work is noticed and appreciated. Tying these recognition programs with core values of a company is becoming notably popular among HR leaders. Why? Because values-based employee-recognition plans reward employees while reinforcing and driving business goals at the same time.

Employee-recognition programs funded with at least 1% of payroll are more likely to be rated successfully by HR managers than underfunded programs or programs with zero budget.

(Workhuman)

Workhuman’s job satisfaction statistics emphasize the importance of investing in programs that make employees feel appreciated. HR experts agree that underfunded employee recognition initiatives or initiatives with no budget at all give unsatisfactory results. A certain amount of funds - usually at least 1% of payroll - need to be set aside for these programs to be effective.

Organizations with ethnically and gender-diverse staff are 21% to 31% more likely to have financial returns above industry medians.

(McKinsey)

Women and minorities remain underrepresented in many workplaces despite the fact that diversity has been proven to improve businesses’ performance. US job statistics recently published by McKinsey bring to light just how big an effect diversity has on company revenue. Businesses that are in the top quartile for gender diversity are 21% more likely to exceed their industry median profits. In the case of ethnically diverse teams, the likelihood of exceeding median industry revenue goes up by 31%. It makes perfect sense; in diverse teams everybody brings their own perspective to the table, strengthening the company.

Empowering women and advancing their equality in the workplace could add $12 trillion to the global GDP by 2025.

(McKinsey)

McKinsley’s productivity statistics point to the enormous power of inclusion. Working towards empowering women and engaging them in the workforce around the world would be extremely beneficial to everyone. To put it in financial terms, the global GDP would increase by mind-boggling $12 trillion in the next six years if this goal were achieved.

A great onboarding experience can lock down 69% of employees for at least three years.

(O.C. Tanner)

Onboarding is the employer’s first chance to shape an engaged worker. Successfully communicating the company mission, setting clear goals and expectations, providing adequate training and mentorship, and checking in on each new employee’s progress are some of the most important ways to retain staff. Employee engagement and retention begin on day one. If done properly, these initial actions can ensure the majority of workers stay with the organization for a minimum of three years.

Up to 20% of employee turnover happens within the first 45 days on the job.

(O.C Tanner)

Just as effective onboarding has the power to lock down new hires for years, a mishandled onboarding process can drive new employees away in just 45 days. As O.C. Tanner’s employee retention stats show, a fifth of all employee churn happens during this short period of time. Deploying the previously mentioned techniques reduces the likelihood of employee walkout, both at the beginning of employment and later on.

60% of employers don’t set clear goals for new hires in their first year.

(O.C Tanner)

Almost two-thirds of employers make the huge mistake of not determining well-defined goals for new hires during their first year on the job. Even though it may seem sensible not to put too much pressure on new team members and give them time to learn the ropes, it is detrimental for the organization not to set clear targets for the first year on the job. According to employee engagement data, if workers don’t see management taking interest in their results, monitoring them, and providing constructive feedback, they can easily become disengaged.

86% of both employees and executives cite a lack of collaboration and ineffective communication as the main reason for workplace failures.

(Recruit Loop)

Employees and their bosses are on the same page when it comes to pinning down the reasons for workplace failures. The large majority of all workers think clearer communication and more collaboration would lead to better results, but only 18% of employees are evaluated on communication in their performance reviews.

When employees take part in special projects, they are 50% more likely to learn new and valuable skills that help with their current roles.

(O.C. Tanner)

O.C. Tanner’s recently published employee development statistics point to the importance of involving employees in projects that go beyond their everyday tasks. Constantly focusing on just a few assignments kills workers’ motivation. So, when a new project arises, make sure to include not just the employees who can contribute, but also those who can learn from it.

For every 10% increase in racial and ethnic diversity on the senior-executive team, earnings before interest and taxes (EBIT) go up by 0.8%.

(McKinsey)

People from different backgrounds have different perspectives. Thanks to their unique set of previous experiences, they view problems from a range of angles and come up with different solutions. When people with different outlooks bounce ideas off of each other, they think of better solutions than like-minded people from the same culture. As McKinsey’s employee engagement statistics show, executive teams composed of ethnically and racially diverse members generate higher earnings.

Nine in 10 HR leaders agree that ongoing peer feedback and check-ins have a positive impact on their organizations.

(Workhuman)

Regularly checking in on employees’ progress, results and issues they face helps organizations a great deal. This practice gives managers a chance to guide workers in the right direction at the right time. Instead of employees feeling stuck and abandoned with a task, regular check-ins ensure problems are tackled by both the staff and their leaders. This system, paired with ongoing peer feedback, is among the top employee engagement and retention strategies of 89% of HR experts.

80% of HR managers say there is an employee-recognition program in their organizations.

(Workhuman)

HR managers agree that their employee-recognition programs contribute to a positive employee experience (89%), good employee relationships (86%), organizational culture (85%), employee engagement (84%), and organizational values (83%). Keeping in mind all these benefits, HR leaders recommend treating employee recognition as more than just a program. They believe it should be a management practice with a real and measurable business impact, according to Workhuman’s HR and employee engagement statistics.

Happy Employees = Productive Company

As our list of job satisfaction statistics reiterates, companies do very well when their employees are happy at work. Engaged employees are likely to feel great about their job, achieve better results, have a good work-life balance, and feel appreciated. All these positive feelings they generate spill over into the company’s performance, resulting in higher productivity and more revenue.

If you aren’t already doing so, you should start expressing appreciation for your employees immediately. After all, they are your business’s most valuable asset.

Frequently Asked Questions
What is job satisfaction?

Job satisfaction, as the name indicates, refers to the level of fulfilment an employee gets from their job and work environment. When workers are satisfied, they are self-motivated, content, and productive. They show up to work ready to face new challenges. Companies whose workers feel highly satisfied with their job outperform their competition. Innovation and great results happen when workers feel respected and valued at work.

How to keep employees engaged?

There are many factors that contribute to employee engagement. Clearly defined goals and expectations, ongoing feedback from peers and superiors alike, open communication, employee recognition programs, internal career development programs, competitive benefits, positive corporate culture, and flexible work environment are among the best employment engagement strategies.

Why employees quit statistics?

People quit for various reasons, but according to 2019 data from Statista, a quarter of Americans cite better pay as the main reason for leaving a company. The second-most common reason is dissatisfaction with their current organization (16%), followed by workers who are looking for companies with values more similar to their own (14%). Relocation (11%) and changing part-time gigs for full-time jobs round up the top-five list of reasons why US workers change employers.

What percentage of employees are engaged?

The latest statistics on employee engagement published by Gallup in 2018 show that the percentage of engaged workers has never been higher. But with only 34% of workers describing themselves as engaged, there’s still a long way to go before America reaches its full productivity and engagement potential.

How many employees are disengaged?

While a little over a third of employed Americans identify as “actively engaged” at work, 53% of them say they are ‘not engaged’. Workers from this group are generally satisfied with their job but say they lack an emotional and cognitive connection with their work environment. Employee disengagement statistics show that 13% of workers are “actively disengaged,” meaning they are very discontent with their job, so much so they actively undercut the work their engaged coworkers do.

What are the benefits of employee engagement?

The benefits flow thick and fast when for both workers and corporations when staff members are engaged. Appreciating the human capital of a company leads to higher job satisfaction rates as well as improved employment retention rates. When employees are engaged at work they tend to have fewer accidents and miss work less. Engaged personnel generate more revenue, provide better customer service, makes more sales, and create more profitable organizations. Also, engaged and satisfied employees achieve a better work-life balance and are healthier.

How many people like their job?

Relying on the latest data from Statista and Gallup, we’ve calculated that there are approximately 44.5 million full-time workers in the US who love their job. According to a Statista report published in June 2019, the number of full-time workers in the US amounts to 131 million. Gallup’s latest annual survey suggests 34% of working Americans are fully engaged – happy and committed – at work. Therefore, the number of people who love their job is a little over 44.5 million.

How many Americans hate their job?

Basing our estimates on the previously mentioned statistics about jobs, we reached a number of some 17 million US employees who hate their job. Let’s consider that the 13% of actively disengaged workers from Gallup’s yearly employee engagement study hate their job. From that, we calculated 13% of Statista’s data on the number of US employees who hold full-time positions. According to this data, more than 17 million Americans are miserable at work.

About author

Ivana is a staff writer at SmallBizGenius. Her interests during office hours include writing about small businesses, start-ups, and retail. When the weekend comes, you can find her hiking in nature, hanging off of a cliff or dancing salsa.

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(2020 Global Study on Occupational Fraud and Abuse) Now that we know who commits white-collar crimes and the statistics behind them, we can determine the most common types of these crimes. According to the data gathered in the Report to the Nations global study on occupational fraud and abuse, the most frequent fraud scheme is asset misappropriation. This felony accounts for 86% of all white-collar crimes, but, luckily, it’s the least costly type with a median loss of $100,000 per case. Asset misappropriation happens when an employee misuses or steals the company’s resources and thus defrauds their employers.  Financial statement frauds are the most costly type of white-collar crime, with a median loss of $954,000. (2020 Global Study on Occupational Fraud and Abuse) Luckily, white-collar crime statistics indicate that financial statement fraud schemes are the least common type of corporate fraud, accounting for only 10% of the cases. So what are financial statement frauds? They involve schemes in which the offender intentionally omits or misstatements the material in the company’s financial statements. Corruption accounts for 43% of cases and causes a median loss of $200,000 per case. (2020 Global Study on Occupational Fraud and Abuse) Corruption takes up an expectedly high proportion of occupational frauds. Offenses such as bribery, extortion, conflicts of interest, bid-rigging, and other illegal activities cause losses of around $200,000 per case. One of the more alarming facts about white-collar crime is that corruption cases often cost companies more than just money. Often their reputation goes on the line, and many have to reach out to costly reputation management services to mitigate the damage. 64% of organizational offenses in the United States happen in closely-held or private corporations. (United States Sentencing Committee) Speaking of the structure of the organizations where frauds are committed, 64% of them are private or closely-held corporations. US white-collar crime statistics show that limited liability companies account for 22.7% of cases, and 9.3% of cases happen in publicly traded corporations. If we dig deeper into the infrastructure of American businesses committing corporate offenses, we can conclude that most are small in size. Namely, 66.1% had fewer than 50 employees, and only 9.7% had more than 1,000.  Only 9% of frauds happen in nonprofit organizations. (2020 Global Study on Occupational Fraud and Abuse) Although nonprofit organizations reported very low white-collar crime rates, the $75,000 in damages per case can be a serious blow to smaller organizations. According to the 2020 Report to the Nations study, private organizations accounted for 44% of corporate frauds, public ones for 26%, government agencies for 16%, and other company types for 6%. General White-Collar Crime Statistics FBI white-collar crime statistics show that these criminal offenses cost the US over $300 billion per year. (Cornell Law School 2020 Global Study on Occupational Fraud and Abuse) According to the Federal Bureau of Investigation (FBI), corporate crime offenses are estimated to cost the US more than $300 billion every year. Aside from fines, other penalties for white-collar crimes include paying the cost of prosecution, home detention, forfeitures, community confinement, supervised release, and even imprisonment.  Only 56% of organizations conducted an investigation of their worst corporate criminal incident. (PwC's Global Economic Crime and Fraud Survey 2020) When we look at white-collar crime report statistics, we can see that the main reason for the persistent recurrence of corporate crime might be the lack of people willing to report it. Figures show that only 56% of businesses conducted an investigation of their worst incidents related to white-collar crime. Simultaneously, barely one-third of organizations reported the incident to the board. 89% of the interviewees reported negative emotions after an incident or fraud happened at the company. Taking all the necessary steps to address and better understand the issue results in fewer fraud cases in the future. Ignoring white-collar crime sentencing statistics for a moment, nearly 60% of companies who conducted detailed investigations into the fraud cases ended up being better off for it.  80% of white-collar crime perpetrators received some punishment in 2020, but only 59% of the cases were referred to law enforcement agents. (2020 Global Study on Occupational Fraud and Abuse) Organizations can refer to the corporate criminal incident internally, through civil litigation, or by reaching out to law enforcement. The statistics on the response to frauds indicate that nearly half of the victim organizations (46%) never refer these frauds to law enforcement, believing that internal discipline is sufficient. Another big reason for refraining from reaching out to the criminal justice system is the fear of bad publicity (32%). There were 755 cases of money laundering in the United States in 2020. (United States Sentencing Committee) White-collar crime statistics by the state indicate that the Southern District of Florida had the highest number of money laundering cases during the fiscal year of 2020 (42). This was followed by the Southern Districts of New York and Texas, with 33 convictions each. One of the ways to prevent money laundering and tax evasion is to engage professional tax software solutions to help companies stay up-to-date and compliant with state and federal tax laws. White-collar crime prison statistics reveal that the maximum prison sentence for insider trading in the United States is 20 years. (US Securities and Exchange Commission) Even though not many people and organizations are willing to go to law enforcement in resolving corporate fraud cases, there are exceptions. When reaching out to the criminal justice system to solve the problem, victim organizations can expect the maximum prison sentence for insider trading to be 20 years. At the same time, the maximum amount of money charged from corporate criminals is $5 million for individuals and $25 million for organizations. Obviously, insider trading is just one of the many corporate frauds that can ruin a company’s finances and reputation, but the steep punishments should serve to encourage more people to speak up and get the felons convicted.
By Danica Djokic · October 07,2021
Diversity and inclusion are some of the most important policies that can not only improve the working environment and enhance employee engagement but significantly contribute to all other aspects of any business. The benefits are numerous, and we will discuss them as we unveil some of the most interesting diversity in the workplace statistics. Being a diverse company means hiring people of different ethnicities, gender, age, religion, etc. Companies that have successfully implemented D&I initiatives are often seen as more desirable for employees due to their broader perspective and the positive attitude they cherish. We have done our research, and these are some of the reasons everyone should embrace diversity. Editor’s Choice of Diversity in the Workplace Statistics In 2019, millennials accounted for 35% of the US labor force. Only 8% of CEOs at Fortune 500 companies are female. Diverse companies are 70% more likely to acquire new markets. 46% of Hispanic and 39% of black women earn less than $15 an hour. During the COVID-19 pandemic, fathers who worked remotely were promoted three times more than women in the same position. General Workplace Diversity Data and Stats In 2020, only 17.9% of persons with disabilities were employed in the US. (US Bureau of Labor Statistics) Based on the report published by the US Bureau of Labor Statistics, in 2020, the unemployment rate for persons with disabilities grew compared to the previous year. In 2019, the percentage of employed persons with disabilities in the US was 19.3. However, those numbers dropped to 17.9 the following year.  Regarding people without disabilities, the report stated 66.3% of them were employed during 2019, but the numbers decreased to 61.8% in 2020. These rates show that there is still much work to be done to overcome the lack of diversity in the workplace, and statistics will need to include more people with disabilities in the workforce going forward. By 2024, it’s expected that 24.8% of the US workforce will be employees older than 55. (Deloitte) It’s not a secret that the US workforce is aging each year. Research on shifting workforce demographics, conducted by Deloitte, suggests that by 2024 employees aged 55+ will make up 24.8% of the workforce. This might not mean much to you, but it is a severe increase if we go back to 1994 when this percentage was significantly lower, or to be precise, 11.9%. The research also projects that the US workforce diversity statistics are about to change and, by 2024, less than two-thirds of the labor force will be defined as “white non-Hispanic.” Back in 1994, over 75% of the labor force fell into that category. In 2019, millennials accounted for 35% of the US labor force. (Pew Research Center) Millennials are all those born between 1981 and 1996, and back in 2019, they accounted for over a third of the US labor force. In 2016, the millennial generation surpassed Generation Xers and became the largest population in the US labor force.  According to research from 2019, Millennials are expected to comprise 75% of the global workforce by 2025.  Gender Diversity in the Workplace Statistics Only 8% of CEOs at Fortune 500 companies are female. (Statista) The gap between male and female leadership roles has always been a thing, and there are multiple statistics to confirm that. However, it looks like things are changing for the better. As Statista confirmed earlier this year, there’s been a new record when it comes to female CEOs. As of June 14, 2021, there were 41 female CEOs employed at Fortune 500 companies. According to the statistics, this wasn’t the only record that got broken. For the first time ever, two black women are running America's 500 highest-grossing companies, giving us hope that gender diversity on executive boards might become a reality in the not-so-distant future. In terms of the median salary in the US, women earn around 18% less than men. (PayScale) The gap between the leadership roles isn’t the only hurdle that women are facing in business nowadays. PayScale, a company that helps employers and employees understand the appropriate pay for every position, reviewed these issues in its Gender Pay Gap Report for 2021. According to this report, women earn only $0.82 for every dollar a man makes. Although it might sound discouraging, this is a slight improvement compared to 2020, when they earned one cent less, as per employment diversity statistics. Also, bear in mind these are uncontrolled pay gap statistics - when doing the same job with the same qualifications, the numbers are less dire: women earn 98 cents for every dollar a man does. During the COVID-19 pandemic, fathers who worked remotely were promoted three times more than women in the same position. (CNBC) The ongoing COVID-19 pandemic has affected all aspects of the business as we know it. Many had to adapt to the new reality and switch to their home offices instead. According to a CNBC report, 34% of men with children working from home received some kind of promotion during this period.  On the other hand, women’s jobs have been hit much harder by the pandemic. According to an analysis conducted by the National Women’s Law Center, of the 1.1 million workers ages 20 and over, who left the labor force between August and September of 2020, 865,000 were women. Racial and Cultural Diversity in the Workplace Statistics 46% of Hispanic and 39% of black women earn less than $15 an hour. (The Washington Post) In 2019, around 39 million people earned less than $15 per hour. These 39 million employees made about 28% of the workforce at the time, and the majority of the low-wage category consisted of Hispanic and black women. In fact, they were more than 2x as likely as white men to fall into this wage category.  Based on the Washington Post’s research on diversity in the workplace, statistics haven’t really changed since 2019. Roughly 46% of Hispanic women and 39% of Black women still make less than $15 an hour. On the other hand, only 18% of White and Asian men hover around this wage bracket. More than 90% of all Google employees are white or Asian men. (Statista) According to Statista, the distribution of Google employees in the US from 2014 to 2021 does not look very racially or gender-diverse. The data for 2021 shows that white men account for 50.4% of employees, with Asian men following with 42.3%. On the flip side, only 4.4% of the employees are black men and women. If you look at the timeline of these statistics on diversity in the workplace, you will see the Asian population is experiencing steady growth, while the white population dropped from 64.5% in 2014 to 50.4% in 2021.  In 2019, black people held only 3.2% of senior leadership roles in large organizations in the US. (Coqual) “Being Black in Corporate America” is the name of Coqual’s intersectional exploration aimed to show if and how things have changed for the black people in the US during the past few years. The research on the representation of black adults in the US has shown that only 3.2% of black people held senior leadership roles in major companies, with just 0.8% of them being Fortune 500 CEOs. Benefits of Diversity in the Workplace Statistics Diverse companies produce 19% more revenue than those with non-diverse leadership. (Forbes) A study by the Boston Consulting Group (BCG), published in 2018, has found that diverse leadership increases the bottom line for companies. According to the study, increasing the diversity of leadership teams can lead to improved financial performance and better innovation. The study included 1,700 companies of all sizes across eight different countries. These findings are important as they show that diversity isn’t just an inclusion metric but an integral part of any successful business. In 2019, gender-diverse companies were 25% more likely to outperform their competitors. (McKinsey) Various diversity in the workplace stats show just how important diversity is and how it can help boost the overall performance of businesses of all sizes. Based on the findings from McKinsey’s research in 2019, companies with gender diversity have 25% higher chances to achieve higher profits than those with less gender diversity on the executive boards. Ethnic diversity in leadership teams is another vital factor. According to the report, companies implementing ethnic and cultural diversity on the executive level have a 36% likelihood of outperforming the competition.  Diverse companies are 70% more likely to acquire new markets. (Harvard Business Review) (Josh Bersin) Establishing a diverse workplace is vital for all modern organizations, and there are many diversity in the workplace statistics that prove this. Diverse companies also have 2.3 times higher cash flow per employee. They are also far better at capturing new markets when compared to the companies that do not practice diversity hiring.  80% of US job candidates look for inclusion when choosing an employer. (Deloitte) Salary and working hours aren't the only deciding factor when it comes to choosing a new employer. Back in 2017, Deloitte published a research paper that surveyed more than 1,300 full-time employees from a range of organizations all across the US. The paper showed just how important diversity and inclusion initiatives are by showing that four-fifths of all employees look for an inclusive workplace. 39% of respondents confirmed they would quit their current job if they found a more inclusive working environment, while 23% indicated they already left a job for that very reason.
By Nikolina Cveticanin · October 04,2021
Women account for 50.8% of the US population, hold 57% of all undergraduate degrees, and approximately 60% of all master’s degrees. And even though they hold about 52% of all management-level jobs, American women cannot keep pace with men in terms of representation when it comes to top leadership roles.  As male vs. female CEO statistics show, it’s the profit and loss roles or P&L responsibilities such as leading a brand, unit, or division, that set executives on the track to becoming a CEO. On the other hand, women who advance into C-suites - the “chief” jobs in companies - typically take on the roles such as head of human resources, legal, or administration. Although all of these functions are extremely important, the line of work they focus on doesn’t involve profit-generating responsibilities, which rarely makes them a path to running a company. Why does the percentage of CEOs that are female remain low in all parts of the world? There isn’t a simple answer to this question. Several studies have shown that it’s the fusion of work-life constraints, early professional trade-offs, and firmly established attitudes towards women in power and the skills and traits that make a good leader that can explain why the careers of equally ambitious and capable men and women often take such different turns. Let’s take a look at some of the most interesting findings. Male vs Female CEO Statistics - Editor’s Choice Female CEOs are running 41 Fortune 500 companies. There are two Black women among the Fortune 500 CEOs. Women made up only 5% of the CEOs appointed in 2020 globally. At the CEO level, men outnumber women by approximately 17 to one.  59% of male employees aspire to become CEOs versus 40% of women. 77% of women say the biggest obstacle to gender equity at the workplace is the lack of information on how to advance. Between 2015 and 2020, the share of women in senior vice president roles in the US increased from 23% to 28%. (McKinsey & Company) Over the same period, the percentage of women in the C-suite went up from 17% to 21%. All women, especially those of color, remained significantly outnumbered in senior management positions. However, prior to the start of the coronavirus pandemic, the representation of female workers in corporate America was slowly trending in the right direction.  According to 2020 statistics on female CEOs in the United States, 21% of C-suite members were women.  (McKinsey & Company)  Based on the survey results published by McKinsey & Company, there’s a leaky pipeline for women in leadership. In 2020, female workers accounted for 47% of entry-level positions, 38% of management roles, and 33% senior management/director roles. Women were entrusted with under one third (29%) of all vice president positions in American organizations. For every 100 men who got promoted to a managerial role, only 85 women advanced to the same position, based on the 2020 data.  (McKinsey & Company) This gap was even larger for women of color as only 71 Latinas, and 58 Black women received a promotion. Consequently, women remained underrepresented at the managerial level holding just 38% of manager positions, while men accounted for 62%. Male vs female CEO statistics from 2020 indicate that 39% of senior-level women burned out compared to 29% of men. (McKinsey & Company) Furthermore, 36% of women felt pressured to work more, in comparison with 27% of men. At the same time, 54% of C-suite women reported that they constantly felt exhausted, and so did 41% of men in similar positions. More than 50% of women in senior leadership roles promote gender and racial equality at work, in comparison with approximately 40% of male top executives. (McKinsey & Company) Women in leadership positions are more likely than men in senior-level roles to take a public stand on racial and gender diversity and champion the advancement of employee-friendly programs and policies. Women CEOs are also more likely to sponsor and mentor other female workers. According to the results of a recent survey, 38% of women in senior-level positions currently mentor or sponsor at least one woman of color, compared to only 23% of men in the same roles.   Female CEOs are running 41 Fortune 500 companies. (Fortune, Statista) In 2021, the number of women appointed to CEO positions in America's 500 highest-grossing companies reached an all-time high. However, the new record still only translates to approximately 8% of female representation at the top of the country's largest public businesses.  On the plus side, the number of women CEOs of Fortune 500 companies almost doubled in comparison with 2018 when there were 24 females leading the nation’s biggest businesses. Calls for diversity and inclusion in the highest echelons of America’s business world are starting to bear fruit as the number of female Fortune 500 chief executive officers increased for the third consecutive year. The top five biggest female-led Fortune 500 businesses as of August 2021 are CVS Health (rank four), Walgreens Boots Alliance (rank 16), General Motors (rank 22), Anthem (rank 23), and Citigroup (rank 33).  Speaking of women in leadership roles, statistics show that there are two Black women among the Fortune 500 CEOs. (Fortune) For the first time, two Black women are running Fortune 500 businesses - Roz Brewer of Walgreens Boots Alliance (rank 16) and Thasunda Brown Duckett of TIAA (rank 79). Before Duckett and Brewer started their new jobs in 2021, only one Black woman - Ursula Burns, former Xerox chief - had ever been appointed CEO at a Fortune 500 business on a permanent basis. After Burnes stepped down from the role in 2017, and, with the exception of Bed Bath & Beyond's Mary Winston, who worked as interim chief for a few months in 2019, Black female chief executive officers have been missing from the Fortune 500 list ever since. Citigroup CEO Jane Fraser is the first woman to run a major Wall Street bank. (Fortune) Fraser’s appointment marked huge progress for the financial industry. Much like Dick's Sporting Goods chief Lauren Hobart, Clorox chief Linda Rendle, new Coty CEO Sue Nabi, Walgreens Boots Alliance’s Roz Brewer, Thasunda Brown Duckett of TIAA, and CVS’s CEO Karen Lynch, Fraser took over from a male CEO. Statistics on Fortune 500 CEOs by gender reveal that there were only 37 female and 463 male chiefs leading America’s highest earning businesses in 2000. (Fortune) The number of women in CEO positions in the Fortune 500 hasn’t been growing steadily throughout the last two decades. There were 24 female chiefs in 2015, 21 women CEOs in 2016, and 32 women running Fortune 500 businesses in 2017, while that number dropped to 24 in 2018.  At the median, 16 female CEOs earned $13.6 million in 2020, in comparison to $12.6 million for the 326 men included in a study. (Equilar) According to a study published in May 2021 comparing a male CEO salary vs. a female CEO salary, women have outpaced men in total pay but remained underrepresented in executive positions. Equilar’s study indicates that Lisa Su, the chief executive officer of Advanced Micro Devices, was the highest-paid woman for the second consecutive year and the highest-paid CEO overall in 2020.  Globally, women made up only 5% of the CEOs appointed in 2020. (Heidrick & Struggles) The highest percentage of newly-appointed female CEOs was in Ireland (15%), while the lowest was in Brazil (0%). This is according to a paper that analyzed the backgrounds of chief executives leading 965 of the largest companies in 20 markets around the world. It sought to identify the skills and experience that shaped their path to the top while taking different male vs. female CEO statistics into account.  At the CEO level, men outnumber women by approximately 17 to one.  (Morningstar) According to a study that explored the gender gap in US companies, the number of male executive officers is seven times higher than the number of women holding the same positions. More than 50% of the companies analyzed didn’t have a single female on their lists of executive officers. Jackie Cook, the author of the Morningstar report, found that online retail giant Amazon didn’t have any women among its highest-paid executives as of 2020.  Women who negotiate for raises and promotions are 30% more likely to be considered as "too aggressive" or "intimidating". (Business Insider) Speaking of male managers vs. female managers, statistics reveal that women who don’t negotiate at all are 67% less likely to receive the same negative feedback. The proportion of women in senior management roles increased from 20% in 2011 to 29% in 2020, globally. (Grant Thornton) As 2019 saw a jump of 5% compared to 2018 (amounting to a total of 29%), 2020 represents a leveling off of the progress made during the previous year. This lack of movement doesn’t necessarily reflect a failure of companies to address the existing gender gap. Globally, the proportion of companies with at least one woman in senior management was 87% in 2020.  (Grant Thornton) The number of female CEOs and senior managers has risen by almost 20 percentage points over the last few years. For comparison, this figure stood at 68% in 2015 and 68% in 2017.  77% of women say the biggest obstacle to gender equity in the workplace is the lack of information on how to advance. (Working Mother Research Institute) Only 41% of female survey participants, as opposed to 64% of male respondents, said they have a network of coaches, mentors, and sponsors offering them career guidance. 37% of women versus 64% of men said that their companies provide information on career paths that lead to executive roles. (Working Mother Research Institute) Additionally, women CEO statistics indicate that 74% of female employees understand what the specific requirements are for advancing to the highest-paying roles in their companies even though they don’t receive this type of information directly.  60% of women believe they have the same opportunities to advance as anyone else at their workplace versus 74% of men.  (Working Mother Research Institute) Similarly, 65% of women express they are satisfied with the way their careers are progressing, and so do 78% of men.  Male vs female CEO stats reveal that 59% of male employees aspire to become chief executives versus 40% of women.  (Working Mother Research Institute) Of those women who aspire to become CEOs, 6% are first-level managers (as opposed to 13% of men) and 39% are executives. The same goes for 40% of men hoping to take on the role of chief executive officer.  Businesses with high representations of women in leadership roles had a 35% higher return on equity and 34% higher total shareholder return in comparison with male-dominated companies.  (Catalyst) Female vs male CEO statistics compiled by an NGO during a review of 353 Fortune 500 companies show that the differences were most apparent in facial services, consumer discretionary, and consumer staples industries.
By Milica Milenkovic · September 24,2021

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