Independent Survey Shows High Overall Job Satisfaction in the Franchise Sector but Gender Gaps, Gen Z Pose Significant Risks
PORTSMOUTH, NH, UNITED STATES, March 19, 2019 /EINPresswire.com/ — Franchise Business Review has released the results of an independent industry-wide survey benchmarking employee engagement and compensation among franchise professionals.
Franchise Business Review (FBR), a market research firm that specializes in benchmarking satisfaction within the franchising sector, conducts surveys of corporate franchise employees and franchise owners’ employees across North America each year to determine their levels of engagement.
FBR conducted the inaugural Franchising@WORK Employee Engagement & Compensation benchmarking study in partnership with the International Franchise Association (IFA) to provide aggregate data to help franchise companies understand how their culture, compensation and engagement compare to others. All corporate franchise employees were invited to take part.
FBR collected data from over 1,350 franchise professionals at more than 250 companies. Participants were asked 24 core benchmark questions related to job satisfaction, engagement, management, brand leadership, and culture, as well as detailed personal questions about their position, compensation, benefits, and demographics.
Key findings from the Franchising@WORK study:
– 90% of corporate franchise employees find their jobs and the work they do rewarding and satisfying.
– 85% of respondents feel that their ideas and feedback are valued by their managers.
– Nearly a third of all franchise employees (29%) don’t feel they receive the recognition they deserve.
– Two in five franchise employees (41%) feel they are under compensated.
– Women in franchising earn less than their male counterparts, with the greatest gender pay gap at mid-level management where male managers earn a full 34% more on average than female managers.
– Gen Z employees (under the age of 25) had by far the lowest satisfaction and engagement scores in the survey, scoring 10% to 33% below benchmark.
– Customer-facing employees are least satisfied, with 59% indicating they did not see a long-term opportunity with their current company.
"Top talent – both franchisee candidates and employees – are getting harder to find, and even harder to retain, particularly with the current strong economy and historically low unemployment rates. “Many franchise organizations have openings in key positions that they can’t fill,” says Eric Stites, founder and CEO of Franchise Business Review. “The results of the Franchising@WORK study clearly demonstrate that measuring employee engagement needs to be a top priority for franchise organizations in order to minimize turnover and cultivate a positive franchise culture, which in turn drives growth and profitability.”
The full results of the study are available at: https://fbrinfo.franchisebusinessreview.com/franchising-at-work-results-0-1
About Franchise Business Review
Franchise Business Review (FBR) is a leading independent market research firm that specializes in benchmarking franchisee and employee satisfaction. FBR provides franchise companies with benchmarks and best practices to improve satisfaction, employee engagement and retention. FBR has partnered with over 1,100 top-performing franchise companies to drive franchise growth and achieve greater success through data-driven insights. Learn more about FBR’s research at https://tour.franchisebusinessreview.com/services/.
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Source: EIN Presswire