How to Improve Employee Satisfaction and Retention

September 4, 2018

To have a positive workplace, you need positive employees. When employees are happy and content, when they feel like their passions and desires are met, this is called employee satisfaction. It is essential for employee motivation, dedication, goal achievement, and retention.

However, according to a report by “The Conference Board”, more and more Americans are growing to be highly unhappy at their jobs. Only 45% of those surveyed said they were satisfied with their jobs, while the other 65%, for whom their workplace never fulfilled their dreams, are leaving.

This staggering drop in employee satisfaction has negative effects on employee productivity, retention, creativity, motivation, and interest at work. In these turbulent times, employers must strive to discover which factors most affect employee satisfaction and must be willing to spend their money, time, and energy on programs and practices that will eventually lead to a positive impact on employee satisfaction.

Learn what your company can do in order to have a flourishing workplace where employees can bloom and thrive.

Job Security

Job security is important for both employers and employees. When an employee settles into a position that promises long-term career goals, that employee feels more motivated to do their best work. Job security translates into a career and financial stability and means no stressing about debts or bills but focusing on your future carefully and tension-free. Employees who aren’t scared they might lose their job tomorrow are more likely to perform at a higher level, show greater motivation and dedication, and stay with the company for a significant amount of years.

For the employer, this can lead to reduced turnover rates, an increase in employee satisfaction and retention, and a boost in company reputation.

Respectful Treatment

If you wish to have more engaged and productive employees, you must make way for a respectful working environment. Workplaces that are not respectful of employees suffer from more conflicts and misunderstanding, lower attendance, and decreased productivity.

Harvard Business Review surveyed 20,000 employees and found that respect is the number one factor that would lead to higher employee satisfaction and retention. When you treat people with politeness and kindness, when you encourage coworkers to express opinions and ideas, when you don’t judge or belittle them, your employees will grow to become a highly productive workforce that will drive the company forwards.

Respect is essential for a meaningful, considerate, and professional workplace. It’s a powerful tool that can enliven the spirits of the employees, reduce their worries of being stepped over, and can improve the company’s bottom line.

Comprehensive Employee Benefits Package

When it comes to attracting and recruiting the best employees, a comprehensive benefits package is essential. If you wish to have a motivated and engaged workforce, you need to carefully plan your company’s benefits package. What motivates employees is a benefits package that includes health insurance, with retirement benefits rising with the age of the employee. Moreover, no package is complete without paid time off from work, including paid sick days, paid vacation time, and paid holidays. Disability insurance, dental insurance, and life insurance are other benefits that your company should offer to employees.

According to JobVite, many companies today offer benefits that go beyond the normal health and financial benefit products that are standard in workplaces. These additional benefits might include flextime and remote work opportunities, recreation centers, free food, mentoring and development programs, and casual dress codes.

Atmosphere of Growth

There’s more to employee satisfaction and retention than a good salary. An atmosphere of growth also plays a large role in keeping employees happy, engaged, and motivated. Employers can create an atmosphere of growth by:

Providing education courses
Celebrating accomplishments
Tuition reimbursement
Career development or counseling services
Opportunities for promotion and career advancement
Coaching, mentoring, and leadership development programs

When you find the perfect hire, you want to keep that employee firmly in your department. You can not risk stagnation as career-oriented individuals strive to try new opportunities and take on challenging tasks. This can happen through rewarding their good performance, meeting their personal and financial goals, and providing a vision for the future. The worst thing you can do with ambitious employees is to ignore their successes, make them feel ignored and unappreciated, and fail to establish an environment of continuous improvement.

Quality Management or Supervision

Did you know that one of the top reasons for people leaving companies is because of managers and supervisors? In a study, Ultimate Software found that 93% of employees believe trust in their direct supervisor was the most important factor in workplace satisfaction. Another survey by Deloitte found that half of the employees don’t trust their employers.

When employees lack clarity about job expectations, their earning potential, or feedback about their performance, they are not afraid to leave the job. Although employees don’t need to be best friends with their managers or supervisors, they need to have a healthy relationship. A healthy relationship can lead to happy, loyal, and productive employees in the long-run. However, when the relationship is toxic, there will be a significant drop in the employees’ engagement, confidence, and commitment.

Autonomy and Independence

Another great way to foster employee satisfaction and retention is by giving them what they crave the most: autonomy and independence. Employees seek autonomy and independence in accomplishing their work and job. If the company has hit the jackpot and hired a workforce of experienced and qualified employees, then that company must provide more authority for the employees to make their own decisions and self-manage. The company must assign new, higher-level responsibilities to the employees in order to let them grow their skills and knowledge.

Moreover, the employees must feel like they have a voice in meetings, access to important discussions and projects, and an impact on company goals and priorities. Employees should spend more time with their managers or supervisors as they find this attention rewarding and place a high value on healthy relationships.

When your employees feel a sense of empowerment, they will perform their jobs more efficiently and effectively without feeling as if they are waiting for a decision, waiting for direction, and waiting for permission to act. Empowerment is an important management practice that encourages employees to practice autonomy, control their own jobs, and use their skills to benefit both their company and themselves.

Final Thought

Now that you know what are the key factors to employee satisfaction, why not make the necessary efforts to retain your most qualified employees? Use this information to your best advantage and avoid holding regular exit interviews and farewell parties.