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Better Workplaces, Better World The Story of Louisville’s Workforce Master of Science in Business Analytics 625 | Storytelling with Data (Part Two)

Better Workplaces, Better World The Story of Louisville’s Workforce

Blue Team – Tenure and Job Classification Green Team – Age and Generation Analysis Gold Team – Remote versus Traditional Work Black Team – Employees with Children Yellow Team – Value & Satisfaction Red Team – Job Satisfaction Index Orange Team – The Impact of Covid-19 Purple Team – Conclusion & Takeaways from Qualitative Data

Taught by Dr. Zac Goldman and Dr. Abby Koenig

Blue Team

Better Workplaces, Better World (Part Two)

MSBA 625: Storytelling with Data (Part Two): Blue Team 4

Employed Full-Time Employed but looking to change jobs National Turnover Rate in years (BLS) Have been in the same position for more than 3 years

The largest gaps between sa satis isfactio ion and im importance occur in pay factors and opportunities and investment in growth.

MSBA 625: Storytelling with Data (Part Two): Blue Team 5

Employees are least satisfied with pay fac factors rs after 7- 10 years rs in their current position.

MSBA 625: Storytelling with Data (Part Two): Blue Team 6

Employees would like to see more ch chances fo for sa sala lary inc increases.

MSBA 625: Storytelling with Data (Part Two): Blue Team 7

Employees would like more tr training fo for r car areer development.

MSBA 625: Storytelling with Data (Part Two): Blue Team 8

Employers should review their pay ay sca cale and tr training

• pportunities to retain employees.
• Pay

ay: Offer transparency about factors that relate to salary increases.

• Pay

ay: Evaluate benefits package and usage.

• Opportunitie

ies: Develop soft skills training plan.

• Opportunitie

ies: Reevaluate performance review process and encourage a frequent-feedback culture. MSBA 625: Storytelling with Data (Part Two): Blue Team 9

Green Team

Better Workplaces, Better World (Part Two)

MSBA 625: Storytelling with Data (Part Two): Green Team 11

Gre reen Team Agenda

• Overall Job Satisfaction by Generation
• Generational Breakdown by Gender
• Pay Importance vs Satisfaction
• Generational Differences in Benefits Preferred
• Louisville Data & National Data Comparison
• Benefits Preferred
• Workplace Satisfaction

Original Data Value Age Group Represented Assigned Generation 1 Less than 18 Gen Z 2 18 to 22 Gen Z 3 23 to 27 Gen Z 4 28 to 32 Millennial 5 33 to 37 Millennial 6 38 to 42 Millennial 7 43 to 47 Gen X 8 48 to 52 Gen X 9 53 to 57 Baby Boomer 10 58 to 62 Baby Boomer 11 Over 62 Baby Boomer

To prepare the data, genera rational categories were defined.

MSBA 625: Storytelling with Data (Part Two): Green Team 12

The percentage of employees who are Dissatisfied or Very Dissatisfied with their job decr creases as s age inc incre reases.

The percentage of employees who are Satisfied or Very Satisfied with their job is fairly equal across all generations

MSBA 625: Storytelling with Data (Part Two): Green Team 13

MSBA 625: Storytelling with Data (Part Two): Green Team 14

MSBA 625: Storytelling with Data (Part Two): Green Team 15

Across generations, pay is important, yet no group is fully satisfied.

MSBA 625: Storytelling with Data (Part Two): Green Team 16

Pay is rated important ac across al all l generations.

MSBA 625: Storytelling with Data (Part Two): Green Team 17

Millennials harbor the big iggest opportunity for improvement.

MSBA 625: Storytelling with Data (Part Two): Green Team 18

“Since I’m just starting out, tuition reimbursement and pay are more important than retirement or traditional benefits.” Emily (Gen Z)

Gen Z rate va vacation as the most preferred benefit.

MSBA 625: Storytelling with Data (Part Two): Green Team 19

“Since I’m established in my career money isn’t as important to me as family benefits and time off” – Rebekah ( Millennial)

Millennials also rate vac acation as the most preferred. benefit.

MSBA 625: Storytelling with Data (Part Two): Green Team 20

“Having health insurance is important, but it would be nice if it wasn't so expensive” Gen Z

Gen X rate re retirement as most preferred benefit, only slightly above vacation.

MSBA 625: Storytelling with Data (Part Two): Green Team 21

“401k needs to be available day 1, any match should be provided timely, and vestment period should be fair. Health plans should offer both high-deductible and traditional plans to reflect differing needs of all employees.” – Baby Boomer

Baby Boomers rate re retirement as the most preferred benefit.

MSBA 625: Storytelling with Data (Part Two): Green Team 22

Louisvill lle Workplace Benefits an and Workplace Environment

• Be

Benefit its:

• Compensation
• Retirement
• Flexible Work Schedule
• Work/Life balance
• Health Benefits
• Feels good about job
• Job Security
• Tuition reimbursement
• Wellness Programs
• Workpla

lace Var ariable:

• Respected Boss
• Safe Work Environment
• Friends at Work
• Praise for Work Done
• Private Workspace
• Open Workspace

From the survey data these are the benefits and workplace variables I will be focusing on for Gen X and Millennials.

MSBA 625: Storytelling with Data (Part Two): Green Team 23

Generational Breakdown: Mil illennials

From Important (4.0) to Very Important (5.0)

Top Benefits:

1. Compensation 2. Retirement 3. Flexible Work Schedule 4. Work/Life Balance 5. Health Benefits

Top Workplace Variables:

1. Workplace Safety 2. Respected Boss 3. Friends At Work

MSBA 625: Storytelling with Data (Part Two): Green Team 24

Generational Breakdown: Generatio ion X

From Important (4.0) to Very Important (5.0)

Top Benefits:

1. Compensation 2. Retirement 3. Flexible Work Schedule 4. Health Benefits 5. Work/Life Balance

Top Workplace Variables:

1. Workplace Safety 2. Respected Boss

MSBA 625: Storytelling with Data (Part Two): Green Team 25

IM IMPA Top 5: 5:

1. Tuition Reimbursement 2. Retirements 3. Pay 4. Health Plans 5. Secure Job

Louisville’s Top 5:

1. Pay (3rd) 2. Retirements 3. Flexible Work Schedule

(9th)

4. Work/Life Balance (6th) 5. Health Plans (4th)

In Louisville’s Survey, Millennials sco score tu tuit itio ion reim imburs rsement ne next to

• las

ast: maybe sacrificing that for more pay; however, , nationally Millennials rank tu tuit ition reim imburse sement as as highest.

“2016 Cross-Generational Benchmarking Report from “International Public Management Association for Human Resources”

MSBA 625: Storytelling with Data (Part Two): Green Team 26

IPMA-HR Breakdown: Generatio ion X

IM IMPA Top 5: 5:

1. Retirement Plans 2. Health Plans 3. Pay 4. Secure Job 5. Feel Good about Job

Louisville’s Top 5:

1. Pay (3rd) 2. Retirements (1st) 3. Flexible Work Schedule

(7th)

4. Health Plans(2nd) 5. Work/Life Balance(6th)

In Louisville’s survey, Gen X rate pay as as mo more important over other factors; ; however, nationally they want to see themselves fee eeli ling goo

• od about their jobs and more se

secu cure in their positions.

MSBA 625: Storytelling with Data (Part Two): Green Team 27

Gold Team

Better Workplaces, Better World (Part Two)

MSBA 625: Storytelling with Data (Part Two): Gold Team 29

Text t co comments about valu lues cite cited lea leadership ip has a to top valu lue.

• Not at all important
• Not important
• Somewhat

important

• Important
• Very important

75.2% 24.8%

The maj ajority of f re respondents va value th the ab abil ility to to work rk fro from home. .

MSBA 625: Storytelling with Data (Part Two): Gold Team 30

Those who work rk fro from home are are le less ss li like kely to to lo look fo for r a a new jo job. .

MSBA 625: Storytelling with Data (Part Two): Gold Team 31

Those who work fro from offi ffice are les less sa satis isfie ied wit ith th their ir cu curr rrent benefi fits as s co compare red to to th those who work rk fro from home.

MSBA 625: Storytelling with Data (Part Two): Gold Team 32

Acr cross th the survey, , re retirement benefits was as ra rated most im important.

MSBA 625: Storytelling with Data (Part Two): Gold Team 33

Respondents’ biggest dissatisfactions with work environment is is th the la lack of f cl clear co communication.

MSBA 625: Storytelling with Data (Part Two): Gold Team 34

Black Team

Better Workplaces, Better World (Part Two)

MSBA 625: Storytelling with Data (Part Two): Black Team 36

Most employees did not indicate they would search for another

• job. However, employees without kids are slightly more likely to

look for another job.

MSBA 625: Storytelling with Data (Part Two): Black Team 37

Being dissatisfied with benefits correlates with leaving more with respondents without kids compared to those with kids MSBA 625: Storytelling with Data (Part Two): Black Team 38

Achievement-Oriented Culture is not as preferable

as other workplace culture factors to employees with kids. MSBA 625: Storytelling with Data (Part Two): Black Team 39

Companies face these main issues:

• Employees without kids are more likely to leave

a job within the next 12 months.

• Employees without kids are more likely to leave

due to dissatisfaction with benefits.

• Employees with kids are more likely to leave due

to dissatisfaction with flexible work schedules.

MSBA 625: Storytelling with Data (Part Two): Black Team 40

We suggest the following act ctio ions to reduce tu turn rnover:

• Companies give employees the ability to work at

home via a VPN when needed.

• Companies revaluate their benefit packages to

make them more comparable to the national average.

• Companies examine and self-reflect on the culture

and make it more inviting and healthier for employees.

MSBA 625: Storytelling with Data (Part Two): Black Team 41

Yellow Team

Better Workplaces, Better World (Part Two)

Conceptual Overview

• For this assignment we

were tasked with examining the relationship between the reported importance/value of benefits and their satisfaction, potentially considering congruence/discrepancy in the process.

Goal

• To successfully analyze

the data we were required to make a certain amount

• f transformations as well

as rename some column names which can be seen in the attached excel file.

Process Conclusions

• The average total value of

flexibility and pay benefits remained consistent despite differing ratings of

• verall satisfaction.
• Flexibility and pay

satisfaction seems to drop slightly as tenure increases.

• It is important to

compensate fairly regardless gender as this is a a very important factor for women especially.

MSBA 625: Storytelling with Data (Part Two): Yellow Team 43

The average to total l value lue of f fl flexib ibil ility and pay benefi fits re remain ined co consis istent despit ite diff ifferin ing rati tings of f overall ll sa satis isfactio ion. .

MSBA 625: Storytelling with Data (Part Two): Yellow Team 44

Fle Flexib ibil ility ty an and pay ay sati atisfactio ion seems to to dro rop slig ightly ly as as te tenure increases.

MSBA 625: Storytelling with Data (Part Two): Yellow Team 45

MSBA 625: Storytelling with Data (Part Two): Yellow Team 46

MSBA 625: Storytelling with Data (Part Two): Yellow Team 47

MSBA 625: Storytelling with Data (Part Two): Yellow Team 48

People le who lea leave th their ir cu current jo job are ofte ften diss issatis isfie ied with ith th the co communic icatio ions th that th they re rece ceiv ive.

MSBA 625: Storytelling with Data (Part Two): Yellow Team 49

Some job characteristics, benefits and beliefs correlate stronger with those looking for a new job in the next 12 months more than others

MSBA 625: Storytelling with Data (Part Two): Yellow Team 50

There are certain job characteristics, benefits and beliefs that are statistically significant for those that agree

• r strongly agree

with the statement that they are “looking for a new job in the next 12 months” compared to those that responded neutral, disagree,

• r strongly

disagree

MSBA 625: Storytelling with Data (Part Two): Yellow Team 51

MSBA 625: Storytelling with Data (Part Two): Yellow Team 52

MSBA 625: Storytelling with Data (Part Two): Yellow Team 53

MSBA 625: Storytelling with Data (Part Two): Yellow Team 54

Recommendations on Retaining Emplo loyees

• Improve communication of key events across the
• rganization as well as how each event could

affect each employee individually.

• To maintain a competitive environment it is

necessary to offer equal opportunities for men and women, as women value a competitive workplace more than men.

• If employers would like to retain their top talent it

may be beneficial to offer to match competing

• ffers from other firms to retain good people.

MSBA 625: Storytelling with Data (Part Two): Yellow Team 55

Red Team

Better Workplaces, Better World (Part Two)

Data In Insights

Data Insights

General Data Trends. Multiple Models.

Sentiment Analysis

Open Ended Question – Response Analysis

Satisfaction Index

Estimating job satisfaction for employees based on survey responses.

Impact of Salary on Job Satisfaction

Understanding one of the major reasons for high attrition rate in Louisville.

Conclusions & Recommendations

Red Team Summary.

Agenda

MSBA 625: Storytelling with Data (Part Two): Red Team 57

MSBA 625: Storytelling with Data (Part Two): Red Team 58

MSBA 625: Storytelling with Data (Part Two): Red Team 59

Stress at Work

Data In Insights

MSBA 625: Storytelling with Data (Part Two): Red Team 60

Comparing Salary per Job role in Louisville to other cities from US

Data Insights

Direct comparison of salaries from different cities shows positive salary difference in Louisville for most of the Job Roles

MSBA 625: Storytelling with Data (Part Two): Red Team 61

Source of Turnover in Labor Market

Data Insights

Employees are satisfied with benefits offered

MSBA 625: Storytelling with Data (Part Two): Red Team 62

Employee Satisfaction per Survey Question

Data Insights

MSBA 625: Storytelling with Data (Part Two): Red Team 63

Data Insights

Job Satisfaction & Benefits Satisfaction

MSBA 625: Storytelling with Data (Part Two): Red Team 64

Employee Satisfaction per Survey Question

Data Insights

Majority of the work force is below 3 Years suggesting a High Attrition Rate

Open-Ended Questions

Sentim iment Analysis

Sentiment analysis was performed on responses to the following open-ended questions:

• Do you have any other comments on leadership, work environment, recognition, and growth opportunities that you

value?

• Do you have any other comments on the flexibility, pay and benefits that are important to you?
• Do you have any other comments on your engagement, stress and balance, and intentions to stay in your current

job? Polarity In sentiment analysis, polarity describes how negative or positive the overall sentiment of the text being analyzed is. Polarity score > 0: indicates the comment contains more positive words/ sentiments Polarity score = 0: indicates the text being analyzed is neutral in wording/ sentiment Polarity score < 0: indicates the text being analyzed contains more negative words/ sentiments Subjectivity In sentiment analysis, subjectivity describes how objective or subjective the overall sentiment of the text being analyzed is. If the subjectivity score is closer to 0, the comment is more objective (factual). If the subjectivity score is closer to 1, the comment is more subjective (opinionated).

MSBA 625: Storytelling with Data (Part Two): Red Team 65

By Job Position

Sentim iment Analysis

MSBA 625: Storytelling with Data (Part Two): Red Team 66

By Industry

Sentim iment Analysis

MSBA 625: Storytelling with Data (Part Two): Red Team 67

Satis isfaction Sco core

Creating a Mathematical Model to quantify the responses

Unders rstandin ing Jo Job Satis isfactio ion

Using the responses for these questions a satisfaction score was calculated.

MSBA 625: Storytelling with Data (Part Two): Red Team 69

How Important How Satisfied

25

Ver ery Importa tant t

Very Satisfied

• 25

Ver ery Importa tant t

Very Dissatisfied

Calc lculatin ing Jo Job Satis isfa factio ion Score

Weighted criteria used for calculating satisfaction score.

1 2 3 4 5

• 5
• 2

1 2 5

Calc lculatin ing Jo Job Satis isfa factio ion Score

Steps used to Calculate Satisfaction Score Calculate Score per Response Average all responses per Category Divide Categories based

• n Industry &

Job Role

• Avg. all categories

for this division

MSBA 625: Storytelling with Data (Part Two): Red Team 71 71

Unders rsta tandin ing Im Impact

• f

f Sala lary on Jo Job Satis isfactio ion

Cost of living index was used to standardize salary for all job roles in selected cities of the US & compared with each other.

Salary Data from Bureau of Labor Statistics www.bestplaces.net

• Supervisors & Managers are least satisfied
• Executives are most satisfied with their jobs
• Job satisfaction varies drastically by

Industry

• Salaries in Louisville are lower as compared

to other major cities in the region

• Louisville is more expensive than most of

the major cities in the region

• Employees are less satisfied with Pay in

Louisville as compared to other categories

Conclusions

Rec ecommendations For Survey Im Improvements

Better Granularity of Data

• Job Roles to align with US Labor Salary Data
• No. of Years in the Job & Organization to include

exact number of years & Months

Diversify Respondents

Majority of respondents from Healthcare & Higher Education

Similar Surveys in different Cities

Perform similar surveys in other cities in the region to have a better comparison factor

Orange Team

Better Workplaces, Better World (Part Two)

Pre-COVID-19 Preferences of Louisville Workers

Safe work environment Working from Home Health Benefits Job Security Salary Increment

MSBA 625: Storytelling with Data (Part Two): Orange Team 78

3/9 First Louisville Case 3/14 Closure of Most Public Gathering Places 3/16 Closure of Restaurants and Bars 3/18 All Public Facing Business Forced to Close

Louisville’s COVID-19 19 Tim imeline

MSBA 625: Storytelling with Data (Part Two): Orange Team 79

US unemployment claims in increase exponentially.

MSBA 625: Storytelling with Data (Part Two): Orange Team 80

MSBA 625: Storytelling with Data (Part Two): Orange Team 81

MSBA 625: Storytelling with Data (Part Two): Orange Team 82

MSBA 625: Storytelling with Data (Part Two): Orange Team 83

How has COVID-19 impacted Jefferson County? Source: Kentucky Center For Statistics

MSBA 625: Storytelling with Data (Part Two): Orange Team 84

Jefferson County Weekly Unemployment Claims

MSBA 625: Storytelling with Data (Part Two): Orange Team 85

Who has Claimed Unemployment the Most as a Result of COVID-19? Source: Kentucky Center For Statistics

MSBA 625: Storytelling with Data (Part Two): Orange Team 86

Women were impacted the more than men.

MSBA 625: Storytelling with Data (Part Two): Orange Team 87

What industries are impacted during this pandemic? Source: Kentucky Center For Statistics

MSBA 625: Storytelling with Data (Part Two): Orange Team 88

The fo food ser services ind industry was impacted the most by COVID-19

MSBA 625: Storytelling with Data (Part Two): Orange Team 89

COVID-19’s Impact on Worker Preferences

Safe work environments become a priority Working from home becomes standard practice Health benefits become non-negotiable Job security becomes paramount Salary increases are not guaranteed

MSBA 625: Storytelling with Data (Part Two): Orange Team 90

Recommendations for Louisville Employers post COVID-19

Prioritize employee health Prepare your business for future work from home situations Become more flexible as an

• rganization

Invest in your employees

MSBA 625: Storytelling with Data (Part Two): Orange Team 91

Purple Team

Better Workplaces, Better World (Part Two)

BETTER WORKPLACE BETTER WORLD

EMPLOYEE DEMOGRAPHICS

Regardless of f tenure, , more people ca care ab about th the Benefits a co company offe ffers rs th than an any other th theme.

MSBA 625: Storytelling with Data (Part Two): Purple Team 94

MSBA 625: Storytelling with Data (Part Two): Purple Team 95

Among emplo loyees tha that ag agreed the they were lik ikely to

• leave,

Ben Benefits and and Lea Leaders rship ip wa warranted the the mos

• st

com commentary.

Participation

HIG IGHLIGHTS

TE TENURE AN AND JOB OB CL CLASSIFICATION

• Tenure =

Dissatisfaction AGE E & GEN ENERATION

• Age = Dissatisfaction
• Millennials
• Gen X - Different priorities

Louisville vs. National REM EMOTE E VS. TR TRADITIONAL WORKERS

>

EM EMPLOYEE EES WITH CH CHIL ILDREN

• No Kids Benefits
• Kids Flexibility

JOB SA SATISFACTION INDEX EX

• Louisville cost of living
• Employee pay satisfaction

HIG IGHLIGHTS

IMPACT OF OF COV OVID-19 (ORANGE)

• Employee Health and Safety has

become a priority with a focus on health benefits

• Job Security is Important

QU QUALITATIVE RES ESPONSES

• Job flexibility, pay, and benefits

VALUE & SA SATISFACTION (YEL ELLOW)

Where do we go fro from here?

X

Pre Previo ious Wor

• rk:
• # of employers
• Voluntary / Involuntary separation
• If voluntary, why they left

X Cu Current Wor

• rk:
• Public / Government sector
• Level of job (C’s, executives, manager, etc.)

X De Demographics:

• Include trade schools/alternative education
• Income role in household

(primary/secondary)

• Louisville native vs. relocated

 Cu Current t Jo Job Sati atisfactio ion  Fl Flexib ibil ility ty, Pay ay, Be Benefit its  Emplo loyee Demographic ics  Le Leadership ip, Gro rowth Opportunitie ies  Work Cu Cult lture  Str tress an and Bal Balance

Factors Addre ressed: Futu ture re Su Surv rvey Factors: :

• 1. 1. Collect the smallest unit possible and use number over categories

when possible

• 2. 2. Use a representative sample / Define you target audience
• 2. 3. Make fields required

Moving Forward: Recommended Improvements To Improve Data Collection

Thank You