How employee satisfaction underpins a successful business
Nikita Tilsley September 28th 2022 - 3 minute read
In a post pandemic world and in the wake of the ‘Great Resignation’, employee retention has become a real challenge for many businesses and poor job satisfaction is often cited by employees as a key reason for leaving a position.
Beyond employee retention however, there are many other business benefits to keeping your employees content and happy.
The happier and more content a person is at their workplace, the more productive they are. There are multiple things you can implement to ensure your employees happiness.
Fostering a great work culture where your workers can grow, develop and connect is key. You’ll often hear from people, ‘the work wasn’t great, but I stayed for the team.’ Work friendships can often make or break a person’s sense of place in a company.
This links into the sense of community, it’s integral that a worker feels respected by team members and managers a like. Being listened too and understood makes all the difference. If your workers have strong connections at work, they are less likely to be stressed, so their productivity will increase.
Keeping your employees engaged is crucial. 31% of workers quit their last job due to a ‘lack of meaningful work’ according to a report published by US management consultancy McKinsey.
Keeping an employee engaged during their job is half the battle, if someone is overqualified, they can become bored. Similarly, if someone is overworked and stressed they’re going to feel like a burden.
A recent report by PwC found employees between the ages of 18 and 24 are ‘less satisfied with their job’.
It’s about delegating the right tasks based on your employee’s skill set, whilst also nurturing personal development and upward mobility, if that’s what your employee values.
Employees are increasingly prioritising their work-life balance. The younger the worker, the less likely they are to compromise on it. The pandemic has opened another way to work and now it has, many workers are keen to keep it that way.
The PwC survey found that 54% of employees worked remotely. Working from home might seem counter intuitive to achieving balance, but it isn’t.
The pandemic shifted workspaces into our homes and in doing so, helped workers enforce stricter boundaries. The right to unplug from work has always been important but more workers are, rightfully, acting on it.
People care just as much about their wellbeing as they do their job and companies should put rules in place to nurture that.
Happiness Fosters Creativity
Creativity is key to any business’ success. The happier a person is, the more creative they are.
Fostering happiness in the workplace boils down to tools, attitude and incentive. Make sure all your employees have the right tools for the job and, if necessary, keep them up to date.
Your attitude towards your employees is key to their happiness. Treat them as individuals, and adults. Reduce the micromanaging and trust their judgment, they’ll thank you for it.
You could argue a worker’s pay is their incentive, but many people care just as much about the experience. Make sure to offer meaningful rewards when you recognise extra effort or if your team has experienced a rough patch. Little gestures make all the difference.
Loyalty increases the bottom line
Companies that have content employees are likely to have a lower turnover rate. Given its far more expensive to retain employees rather than hire new ones this can have an immediate impact on your bottom line. Cater to the employees you have, not the ones you want.
Treating your employees well will increase their loyalty to your business. Listen to them and their needs. Always deliver on the feedback they provide, doing so will increase your employees’ feeling of self-worth, so they’ll want to give back.
If your able to, offer your employees a competitive salary. It may seem expensive, but if your employees feel financially secure, they’ll be less likely to leave because they understand they’re valued.
In the end, the happier your employees are, the more successful your business will be. Don’t view your workers as expendable, but treat them like the valuable investment they are.