It might seem cash doesn’t purchase happiness
Over two thirds of trainee legal professionals within the UK are happy at work in comparison with simply 53% of companions, research commissioned by Metropolis agency Simmons & Simmons reveals.
Two fifths of companions who participated within the research mentioned they’d solely stick with their agency for 2 to 5 years.
The research, which surveyed over 1,600 individuals throughout the globe working within the authorized sector, highlights a disparity within the ranges of happiness at work between completely different age teams. A whopping 90% of Gen Z respondents working within the authorized sector have been happy of their roles in comparison with simply 66% of these over the age of 45.
Priorities seem to vary significantly between ranges of seniority indicating that trainees are less enamoured with giant paydays than companions. Within the UK, 80% of trainees surveyed mentioned they’d moderately work for a agency that gives a supportive and inclusive setting than one which pays very excessive salaries. Solely 63% of companions might say the identical. Trainees within the UK have been the group most dissatisfied with their work-life stability.
The research additionally demonstrates how the scale of a agency’s income and headcount can affect its staff’ happiness. Corporations with revenues over £1 billion noticed solely 30% of their staff happy at work in stark distinction to corporations with revenues of between £500 and £999.99 million the place common happiness ranges extra than doubled to 65%.
A agency’s headcount appears to have less of an affect. Sixty-five p.c and 67% of staff at corporations with between 1,500 and 1,990 staff and over 2,000 staff respectively, have been happy in comparison with round 75% at smaller corporations.
Corporations headquartered within the US and the UK have been on common the least happy corporations. Forty-nine perecent of respondents from US corporations mentioned the pandemic had prompted them to rethink their careers in comparison with round a 3rd of authorized professionals within the UK.
Simmons & Simmons’ senior associate Julian Taylor harassed the “value in challenging misconceptions around age and attitudes to work”, including that the report “reinforces what we already know, in that as much as salary is important for attaining quality of life, it’s far from the only factor in achieving professional happiness”.
Seeking to the longer term, Taylor predicts that “the workplaces of the future will recognise this and place importance on encouraging their people to do more than simply work to live”.