Factors Impacting Attraction and Retention of Employees

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Factors Impacting Attraction and Retention of Employees Eve Sprunt, PhD Consultant 1

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Motivation for Surveys Impact of Nancy Hopkin’s 1994 survey of the lab space allocated to female faculty at MIT relative to their male colleagues Shift emphasis from individuals to demographic groups Reveal bias and demographic trends Management is data-driven Key drivers for management are attrition and retention 2 Photo of the tape measure now in the MIT Museum that Prof. Nancy Hopkins used to demonstrate bias against female faculty

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Surveys Society of Petroleum Engineers Surveys 2013 social media survey on factors impacting attraction and retention with 1737 responses, SPE Paper #168112 December 2011 of SPE members under age 45 with 1392 responses, SPE Paper #151971 May 2011 of entire SPE membership with 5570 responses, SPE Paper #160928 Society of Exploration Geophysicists (2013) Almost 1600 responses, The Leading Edge (April 2014 and July 2014) 3

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Professional Society Surveys Exit interviews are notoriously inaccurate Professional societies can ask questions that employers may fear are too invasive But people are more reluctant to divulge personal information in surveys distributed through social media than those coming by email from a professional society 4

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Factors Impacting Employees 5 Pain-gain balance Opportunities to gain Pain – hostile work environment Factors to reduce the pain (e.g. better work-life integration)

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Work-Life Balance People are motivated by opportunity. Satisfaction with work-life balance depends on opportunity 6

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Critical Motivator Opportunity or Insufficient Opportunity are the biggest drivers for people to join or leave an employer. For older people, Opportunity is still the most important factor, but not by as big a margin over other factors. 7

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Top Reasons for Staying For Both Men and Women Under Age 40 Same Top 4 Reasons Opportunity, challenge, career potential Develop new competencies & grow into a position with new responsibilities Respect Good Pay But top 4 account for only about 25% of “most important” reasons 8

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Why People Leave Slide 9 9

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Why People Leave Slide 10 Agreement between men and women on top five reasons Insufficient opportunity Develop new competencies Leadership/direction of company Better fit to core competencies For better pay 10

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Gender Differences in Reasons for Leaving 11 Under age of 40 Men rank as more important Lack of recognition Self-employment Severance pay Women rank as more important Conflict with boss Inflexible work schedule Follow relocated partner Conflict with co-workers Are conflicts with supervisors and co-workers more common and/or more severe for women?

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Different Ways of Making Comparisons Slide 12 We compared different groups in both by how they ranked the factors and by the difference in the percentage labeling a factor “most important.” “Conflict with boss” was a big percentage difference, but a small ranking difference “Follow relocated partner” was significantly different both ways 12

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Gender Differences in Reasons for Leaving Slide 13 Women are more likely to leave because of conflict with their boss and to follow their partner Women more likely to follow relocated partner Men are more likely to leave to be self employed 13

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Workforce of the Future Dual career couples dominate People were surveyed as individuals, not as couples 14

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Partners Meet mate at school or at work Often same discipline Female petroleum engineers more likely to have a petroleum engineer as their partner than their male peers 15

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Couples of “Equal Earners” Relative earnings important in decision making Women more likely to be in couple of “equal earners” Younger men more to be in an “equal earner” couple 16 From 2013 Survey of the Society of Exploration Geophysicists with nearly 1600 responses

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Form of Invisible Diversity How much each person contributes to household income impacts: Balance of power in relationship Family priorities Protect both incomes Household duties Childcare 17

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Gap in Understanding Single breadwinner may have difficulty understanding the lifestyle and priorities of dual career couples Men under age 40: Dual career men more likely to leave because of working too many hours or conflict with their boss Other men more likely to leave for better pay and benefits 18

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Willingness to Relocate 19 SEG Survey: Relative appeal of 18 conditions Big differences are potential sources of conflict

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Equally Important Careers SPE and SEG surveys - about 80% of equal earner men and women consider both careers to be equally important. Managers don’t want to “waste resources” on people who they do not consider fast track material Some managers - essential to have the employee decide which career is more important 20

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Whose career comes first? Women more likely to be asked than men Women with children 2x as likely to be asked as men with children Women with children working for the same employer as their partner 2X as likely to be asked as equivalent man Men and women with children 2X as likely to be asked if they work for same employer If not asking, what is the supervisor assuming? 21

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Working for Same Employer 22 Advantages Coordinate relocation Ease in picking home location Easier childcare Coordinate travel Coordinate daily schedule Disadvantages Employer requires that one career leads and the other follows Benefits reduced Employer coordinates careers as a couple Job security

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Why People Left Petroleum Industry Top 3 reasons for women: For more interesting work Insufficient opportunity To live in a location I like better To “take care of my child/children was in 7th place behind several “opportunities” Top 3 reasons for men: To live in a location I like better Retirement Terminated and couldn’t get another job 23

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Glass Ceiling & Work-Life Balance Many women don’t start becoming frustrated with their rate of advancement at work until they are in their 30’s. If a mother thinks that her opportunities are limited, she may decide that the rewards of working are not sufficiently attractive. 24

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Gender Differences in Reasons for Staying Under age 40 Women consider the following factors to be much more important than their male peers Flexible work schedule Good relationship with co-workers Trust in organization and management 25

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Incentives to Return to Workforce 26 A chance to make a difference Part-time work Telecommuting Of 20 possible incentives, 3 were most enticing for people of all ages who had left the workforce Retirees Mothers

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Insufficient Opportunity Exclusion from the “fast track” Lack of a sponsor Conflict with supervisor Conflict with co-workers Communication issues Unwillingness to relocate Perceptions of insufficient dedication to career 27

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Perception of Opportunity 28

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Conclusions Pain-gain balance Sense of opportunity is critical Hostile work environment major factor for those impacted Workforce of the future will be primarily composed of dual career couples for whom relocation and child-rearing are big challenges Work flexibility can alleviate the pain side of the balance to improve employee satisfaction 29

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Questions 30