Why Employee Retention Matters
In a recent survey, it was noted that only 45% of people are currently satisfied with their job. This is a frightening figure, as it is lower than it has ever been and highlights how important it is for employers to focus strongly on job satisfaction. Without this, organizations have a big chance of seeing high employee turnover, as their most talented people jump ship to other organizations.
Organizations must focus strongly on maximizing the creative abilities, talent and potential of every member of their team, which gives them a competitive advantage over others. By engaging employees, job satisfaction is greatly increased and employee turnover is reduced.
What Contributes to Job Satisfaction?
Most employees still believe that the main factor that influences job satisfaction is remuneration. Although money is indeed a big factor, there are various other aspects to consider as well, most of which actually play a bigger role than salary. Indeed, job security is far more important.
“Job security: 63%, for the fourth consecutive year, as the top most important determinant of job satisfaction. (67% of employees are very satisfied or satisfied with their job security.)”
18 Critical Factors to Improve Employee Satisfaction and Engagement
Besides this, the ability to use skills, the financial stability of the organization, the individual relationship employees have with their manager, benefits, communication with senior management, the actual job, independence, recognition of performance, feelings of safety, the corporate culture, a good work-life balance, and relationships with other team members play a vital role.
Now that it is clear how important job satisfaction is, and what the areas are that people look for when they want to feel satisfied with their employment, it is equally important to find out just how to achieve that. After all, organizations cannot suddenly throw benefits and stability at their employees. There is often no money for training, and training has been relevant. A lot of the things people look for have to do with soft skills and other things are not easily measured.
One of the keys is to make improvements in the company’s communication strategy.
The Everything DiSC Workplace Profile is a very effective tool used by organizations worldwide that shines a spotlight how individuals communicate and delivers individualized strategies for improvement. The Everything DiSC Workplace Profile illustrates to us that exceptional workplaces are all about developing effective communication skills. Whenever individuals grasp the priorities and preferences of the individuals they interface daily with, they’re far better willing to engage their colleagues in ways that will actually assure increased productivity and much more effective working relationships. Much more than recognizing DiSC Styles – you recognize what you can actually do with that information to accomplish immediate overall results!
“People tend to communicate less during bad times, when in actuality, they need to communicate even more.”
Seven Ways To Increase Employee Satisfaction Without Giving A Raise
Even if the news is bad, leaders and managers still need to share this with the grass roots operatives. Communication has to be excellent and it has to be consistent. This is also something that can be changed in the here and now, and that will have immediate effects on the workforce as a whole. Companies should sit down and recognize whether they have any failings in communication and whether that is something they can improve upon.
Share Information With Your Employees
Indeed, a major factor that links employee satisfaction and communication together is transparency.
“Few things are as important in modern business as transparency. They may not always like what they hear, but they’ll respect you for being open and honest. It makes sense to tell it like it is, when you’re able to do so.”
25 Ways To Boost Employee Satisfaction Levels and Staff Retention
This has to do with respect. Employees have to feel like they are valued for the work that they do, and they need to feel that they are part of the entire team. If something goes wrong in the organization, it affects everybody and everybody needs to be made aware of that. Too many organizations still only share the good news on a company-wide level, when they should be focusing on complete openness and transparency across the board.
Giving Up Some Control
Another very important factor is to give employees control, particularly of their workload and schedule. In doing so, employees feel that they are trusted to be able to manage higher levels of responsibility.
“For instance, employers could offer alternative work schedules such as flextime or telecommuting. Today’s employees have demanding schedules outside of work, and many workers appreciate a boss who considers work-life balance.”
7 Ways to Improve Employee Satisfaction
By giving employees the opportunity to complete their own schedule, management is effectively telling them that they know the job will get done, and that it will get done on time. This immediately increases various elements of job satisfaction, including the ability to make decisions, communication with management and co-workers and respect. These are all hugely important factors.
What’s In Your Vending Machines?
One other thing employees may want to consider is changing their vending machines. Most people get hunger pangs around 11am and around 3pm. They will then turn to the vending machines, which are filled with processed foods, such as chocolate bars and crisps. The saying “you are what you eat” is absolutely true, so feeding junk to your employees means their performance becomes junk as well.
“All those refined carbs you’re snacking on are doing diddly squat for your brain power and productivity. Not only do they rob you of concentration, but they contribute to those few extra pounds you’ve been putting on.”
5 Ways to Improve Job Satisfaction
Indeed, something as simple as making fruits and other healthy snacks available to your members of staff can have a huge impact. They will become healthier and happier, as well as being more productive. This has far-reaching effects as well. As people have more concentration, they are happier with their own performance at work. This, in turn, impresses management (which they must tell the employee, naturally), and this increases employee satisfaction.
These are but a few of the things you could take into consideration to increase employee satisfaction. None of these efforts are expensive. In fact, most of them will have no immediate impact on your budget at all, but the results could and should have a massive impact on your overall productivity and, hence, profitability.
There are various other tools and processes you could use, such as offering training, but you need to make sure that you speak to employees about what they actually want. It is about employee satisfaction and employee engagement and you must be willing to work towards these things in order to have higher levels of employee retention. Investing and appreciating your existing and up and coming talent is key to making sure your organization becomes successful.