Impact of Employee Satisfaction Using Data:
Exceptional employees are a crucial resource to the success of a company. Maintaining satisfied and engaged employees can strengthen a company in many ways, including:
- Productivity & Quality of Work– Employees who are satisfied with their job are motivated to work harder and produce their best work.
- Loyalty- Employees who feel the company “has their best interests at heart” are loyal to achieving the company’s objectives at a higher quality than disengaged employees.
- Recruitment of Quality Employees– Retaining quality employees can, in turn, recruit additional high-quality talent to the team.
- Reduced Turnover Rate-Employee retention can lead to reduced hiring costs.
- Increased Revenue– Increased sales, stronger bottom line, and decreased operational costs can be contributed to higher productivity and work quality.
In the Article “Why Employee Engagement Is Key to Company Success “, Jessica Brook mentions that only about “30% of employees are engaged at work. When employees are engaged their motivation and commitment to their employer increases which leads to driving the business forward and achieving more goals and higher quality work. She continues to mention that ‘companies with a high level of engagement report 22% higher productivity’” According to Brook, Talent Culture found that investing in improved employee engagement can increase profits by 10%.
Companies who continually engage their employees have “double the rate of success compared to less engaged organizations” and report “48% fewer safety incidents and 41% fewer patient safety incidents”, according to Harvard Business Review.
Tips on Maintaining Employee Satisfaction:
According to an article by Villanova University, employee satisfaction is based on these key factors:
- Respect– SHRM reported that this is the highest-ranking factor in employee satisfaction. Respecting and recognizing the efforts made by employees can motivate them to continually produce high quality work.
- Trust– Employees also feel that being able to trust their senior management was also crucial to their workplace satisfaction.
- Security– Giving employees a sense of job security by being transparent and honest with employees about the long-term viability of the company is another important satisfaction factor.
- Healthy environment– Maintaining a healthy environment for employees is crucial to overall employee happiness; therefore, it is important to reduce stress among employees, discriminatory practices, low morale, and harassment.
- Opportunities and Growth– Having the opportunity to take on more responsibility and gain a pay raise can motivate employees to excel.
- Pay and Benefits– Giving employees competitive pay increases their sense of personal value.
- Communication– Communication is essential to effectively improve employee engagement and aid in execution of company objectives as it promotes improved organization among employees.
Measuring Employee Satisfaction:
According to Indeed.com, “Employee satisfaction surveys measure workers’ feeling of contentment and empowerment. They ask questions about how employees feel about company culture and recognition by superiors. At the same time, employers that fail to improve workplace satisfaction can suffer from reduced productivity, high turnover, low morale, reduced ability to recruit good talent, and negative interactions between employees and staff and customers.”
What should employee satisfaction surveys measure? They should measure the employees’ attitude regarding their overall happiness, sense of appreciation, workload distribution, collaborating with team members, ability to get work done, communication among team members and leaders, company’s culture and mission.
It is important to follow up these satisfaction surveys with a timely response and be willing to implement changes where necessary to ensure happier employees and improve trust in the company.
According to an article written in Forbes, “Why Data Is HR’s Most Important Asset”, Data from employee satisfaction surveys can lead to “insights, such as predicting when employees will leave, where to recruit the most suitable candidates from, how to identify and attract those suitable candidates, and how to keep them happy once they become employees.”
Since employee satisfaction is a crucial component of your business, it is important to have tools in place to ensure your employees are content in their workplace. Take advantage of what the RavenCSI team has built to capture employee feedback at any time period desired, and provide usable dynamic hierarchy-based decision data for HR or leadership teams to enhance employee satisfaction. RavenCSI has a complete solution to enhance your ability to connect to your employees. Contact our dedicated team at RavenCSI today to get started.
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