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effectively scores the workforce at 6/10 for satisfied/ very satisfied in their jobs. If your product or service were rated 6/10, you would most likely think you could do better. We’d suggest the same. Workforce satisfaction can be, and needs to be, scoring higher.
Satisfaction levels vary significantly by role. For example, 57% of executives reported high satisfaction, while only 14% of mid-level managers were highly satisfied with their jobs — another 40% reported neutral or negative sentiments. This highlights a significant risk to the sector. Mid-level managers are the next generation of executive leaders. If we don’t look after them, we risk losing them, compounding the issue we see around next-generation workforce planning.
What motivates them to stay in the sector? Career progression, improved earnings, training and professional development scored as the top three retention requirements.
Workforce needs — it’s not all about money While salaries in the lubricants sector have risen by an average of 11% in 2024, it’s clear that money alone isn’t enough to retain talent. Today’s professionals prioritise a more holistic package, valuing factors such as company culture, work-life balance, and career development nearly as much as financial rewards. For instance, when exploring career moves, we provided participants with seven options and allowed them to select up to three. The options included better benefits, career progression, company culture, higher earnings, job security, work-life balance, and alignment with personal values.
52% of lubricants survey respondents consider improved earnings an important factor, but 50% value positive company culture, and 45% chose career progression.
The takeaway for organisations? Strike a balance. Salaries need to be competitive and fair. However, non-monetary benefits like flexible work arrangements, training & development, and initiatives that promote employee well-being all positively impact culture. By doing so, companies can attract top talent and foster deeper engagement and long-term loyalty.
Job mobility — decrease in active job seekers In addition to the rising job satisfaction levels, the
44 LUBE MAGAZINE NO.185 FEBRUARY 2025
survey reveals an interesting trend: only a little over 20% of employees actively seek new jobs, 42% are passive job seekers, and another 37% have no plans to change jobs within the next year.
These statistics suggest a growing sense of stability within the workforce. Many employees focus on developing their careers within their current organisations rather than looking elsewhere. The reasons for this shift vary, but global economic conditions and a heightened desire for job security are significant drivers.
With so few individuals actively exploring other opportunities, employers now face the challenge of tapping into passive candidate networks to identify and attract the right talent for their vacancies. This shift in employee behaviour underscores the need for businesses to refine their hiring strategies for talent acquisition and retention, ensuring they meet the evolving expectations of a more passive & settled workforce.
Diversity and inclusion — a missed opportunity According to multiple studies, businesses with higher diversity and inclusion outperform their peers. For example, diverse management teams lead to 19% higher revenue according to BCG. Gartner’s research suggests that inclusive teams improve team performance by up to 30% in high-diversity environments. People Management states that diverse teams make better decisions 87% of the time, significantly improving strategic, sales, and safety outcomes compared to homogeneous teams.
With all the challenges the sector faces and all the benefits diversity and inclusion (D&I) can bring, it was surprising that only 5% of professionals in the workplace trends report view it as a priority. It’s not an accurate reflection to say 95%+ are getting D&I right, or it’s embedded so well that companies can focus on other tasks instead.
Much work is needed in the lubricants sector to raise awareness and educate on D&I. We encourage companies to review and improve D&I. By making it a foundation of company culture, performance, growth and profits are proven to follow.
The 2024 LinkedIn Trends Report stated that 76% of employees consider a diverse workforce an important
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