The views of this article are the perspective of the author and may not be reflective of Confessions of the Professions.
Which do you prefer? Hourly or Salary?
More and more people are actually preferring hourly jobs over salary and the reason is because salary workers get paid a set price, regardless if they work overtime or not — and many of them are expected to work overtime without being compensated for it. Salary workers often begin work well before their shift actually begins and continue working long after their shift ends.
The hourly worker, on the other hand, is often paid overtime, starts when their shift starts, and after they head home, their shift is officially over and they do not put any extra time in. If they are asked to come in and work an extra shift, many hourly workers do not mind because they will be compensated for it, while the salary worker may not be so inclined. Hourly work does, however, have both advantages and disadvantages, where hourly workers may be treated poorly, absenteeism is higher, no room for advancement, and it may cost more to replace an hourly worker than a salary worker.
This infographic explores the anatomy of the hourly workforce.
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The Anatomy of the Hourly Workforce
59.1% of the United States workforce is made up of workers on hourly wages. Approximately 74 million people!
50% had little/no control over their work schedule
30% had to work overtime with minimal notice
The retail industry has a turnover rate of 80% – 100%.
Poor treatment of hourly workers less to high absenteeism and turnover.
Replacing an hourly worker can cost upwards of 30% of what that employee’s annual salary.
- Are more culturally and ethnically diverse than previous generations
- Have higher expectations about career progress and are more willing to switch jobs
- Have a great sense of social responsibility
- Are more Tech Savvy
- Do not use their career to define themselves
- Identify more strongly with their work than their company
GEN Y in the Workplace
25% of the American workforce is Gen Y in 2013
75% of the American workforce will be Gen Y in 2025
91% of Gen Y employees expect to stay in a job for less than 3 years
More Gen Y workers spend less than 2 years at their first job
Average income for workers 25 – 34 has fallen 8% since 2007
Percentage of Gen Y workforce by company size
Large 23% 1500+ employees
Medium 30% 100 – 1500 employees
Most common Gen Y jobs are low-skilled (with low medium wage)
Merchandise Displayer $23,400
Clothing Sales Representative $28,400
Cell Phone Sales Representative $27,800
Preferred sectors of Work
Public | Non-profit | Private
Gen Y are more likely than other generations to consider relocation or commuting
55% of Gen Y consider their current job just a step in their overall career
Gen X 48%
Baby Boomers 35%
24% Gen Y employees are dissatisfied at their current job
Gen X 14%
Baby Boomers 18%
Most common Gen Y Facebook titles
- Sales associate
2011 The global rate of employee engagement was 58%
29% in the United States
15% Not Engaged
52% Not Engaged in the United States
Globally in 2011
63% (60% in the United States) of employees would consistently speak positively about their company
55% (65% in the United States) would put extra effort into achieving business success
55% (68% in the United States) had an intense desire to remain part of the company
Companies with disengaged employees risk losing 6% of net profits
88% of workers consider “positive culture” an essential part of their dream job
Employee Engagement for Gen Y
Global employee engagement is lowers among Gen Y
57% Gen Y
(61% in the United States)
59% Gen X
(62% in the United States)
62% Baby Boomers
(64% in the United States)
What Gen Y Wants
What We Want!
81% Flexible hours
80% Immediate feedback
52% Career progression
65% Personal development
74% Work environment
Gen Y workers have a higher desire than previous generations to contribute creatively to their company
58% of young people would take a 15% pay cut to work at a company with shared values
45% would take a 15% pay cut to work a job that makes a social/environmental impact
Gen Y employees want to work at companies who share their values
Source: When I Work
Matthew Gates is a freelance web designer and currently runs Confessions of the Professions.