Happy employees bring in increased productivity, better customer service and company loyalty so any effort take to improve employee job satisfaction will positively effect both the company’s top and bottom line.
- 1 1. Job Satisfaction and Employee Retention
- 2 2. Tips On Improving Job Satisfaction
- 3 Takeaway
1. Job Satisfaction and Employee Retention
Employee satisfaction is a reliable predictor of employee retention simply because happy employees are less likely to leave. When employers engage in practices that support a good working environment which allows relationships to be cultivated, employees feel their work is appreciated. When they don’t feel their effort is being acknowledged or simply don’t like the way the things are run, they usually end up going somewhere else, just like they would if someone offers them a bigger salary. But believe it or not, studies show money on its own is not enough to motivate employees. What is considered as the most important aspect of job satisfaction is the respectful treatment of employees at all levels. Therefore, employees need more than a financial reward to be more productive, stay committed and loyal.
According to a report from The Engagement institute, employees who are disengaged cost U.S. companies up to $550 billion a year so it in employer’s best interest to focus on ways to improve employee satisfaction.
2. Tips On Improving Job Satisfaction
The best approach to improving job satisfaction is by focusing on its most important aspects.
The work culture
The culture of an organization is influenced by the behaviors of its leadership that needs to set an example for others to follow. Respect for others can be demonstrated through open communication and internal policies that honor employees, including their personality, contribution and point of view.
Expand job benefits
You need to explore the benefits that employees appreciate and value and make sure the package you offer is competitive by benchmarking within the industry and compared to other companies. Besides the pay, there is health and medical, paid time off, contribution plans, pension plans, family-friendly benefits and work-life balance.
Foster job security
In these uncertain times, employers can help ease the anxiety by communicating with employees about the financial state of the organization, strategic goals and objectives, along with overall performance. When employees know their employer is doing well, they feel their jobs are secure.
Strengthen trust and enforce open communication with senior management
Communication is often a key factor in trust. It makes even bad news easier to share.
Resolving job dissatisfaction requires a diligent effort on the part of employers. Identifying dissatisfaction is the first step and resolving it takes creativity, from open communication to focusing on consistent application of company policy that needs to be mended if necessary to employees are able to trust their leaders.
Make your company greener
Studies show that employees tend to be happier when working for a greener company. Being better to the planet helps a company hire better people as new generations want to work for sustainable companies. The green approach becomes the source of employee pride and it implies the company cares about its workforce. The story of “it’s business, not personal” is a thing of the past as people want to work for a company whose values aligns with their personal ones. There are plenty of other and tangible benefits of investing in making your company greener such as a lower PECO utility bill and enhanced reputation that brings in more revenue and pricing power as even consumers value sustainable companies, so much that they are willing to pay a premium for their offerings. But, many companies these days are accused of greenwashing as employees find that what initially attracted them are just words and no action, and such resentful employees are likely to leave the company. Let your green actions speak for themselves.
Provide opportunities for professional growth
From offering training to opportunities for career advancement, employees want to know that there are opportunities within the organization to grow and advance their careers.
Don’t forget about the stick
Employees become quickly disillusioned when they discover not everyone is subject to the same rules. Carrots are good, but for them to be effective, there needs to be a stick as well as employees need to be aware that there are consequences associated with poor performance. Inconsistent application of employee rewards is just as demoralizing.
Being consistent yields results. Whatever approach you decide on, you need to install it in a disciplined manner and make sure it is applied at every single level of your organization. At the end of the day, your company is made from its people so any effort in improving job satisfaction is a direct investment into your company’s wellbeing.