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Workers seek pay equity
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December 5, 2000: 1:48 p.m. ET
Survey: Filling jobs with better pay, perks hurts current employee morale
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NEW YORK (CNNfn) - High-tech firms that are trying to fill job openings with perks and pay packages better than they're offering current employees could be creating more problems than they're solving, according to a new survey of more than 1,000 employees in the field.
The study, conducted by Aon Consulting in conjunction with the Society for Human Resource Management and the Information Technology Association of America, found that the morale and loyalty of employees is badly damaged if they believe new hires are being paid more for the same work. And slightly more than a quarter of employees in the sector do feel pay is unfair at their current company.
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"Without equitable pay and benefits that are in line with the person in the next cube, high-tech workers cannot be expected to avoid the temptations from down the street."
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Dave Stum
president of Aon Consulting's Loyalty Institute |
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"Despite popular misconceptions, high-tech workers share the values of employees in most industries: they're committed to their job, their colleagues and growing with the company," said Dave Stum, president of Aon Consulting's Loyalty Institute. "But the flexibility of the new work order
only goes so far -- without equitable pay and benefits that are in line with the person in the next cube, high-tech workers cannot be expected to avoid the temptations from down the street."
The survey also found that despite recent devaluations of technology stocks, stock options are a critical component for a committed work force in the booming technology field where initial public offerings are on the horizon. And those surveyed also said they want to see their companies provide them with the latest technology tools and training, even if it might not be essential in the performance of their jobs.
"It's Palm VII versus Palm V. High-tech workers have technology resources, but they want the latest tools and technologies available," said Stum. "Employees feel they must stay ahead of the fast-moving technology curve. If that means regular training and continual investment in the newest and best equipment and resources, the employers need to make it happen."
The good news for employers interested in employee retention is that the survey found that 81 percent of high-tech workers say they experience a great deal of job satisfaction, nearly three-quarters say the direction their company is moving exceeds their expectations, and 78 percent would recommend the services that the organization offers as the best that a customer could buy. And 61 percent said their company is the best place to work in their community.
But 44 percent said they could be lured away by a job offer with a salary increase of 20 percent, or even a lower increase.
The human resources departments of major high-tech companies asked their employees to visit a Web site to anonymously take the survey online. The surveys were conducted through the third quarter. 
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