Retaining top talents has always been a challenge for businesses. And it doesn't come as a surprise as a Gartner survey revealed that only 13% of employees are completely satisfied with their work experience. Although organizations are putting in efforts and investments to improve employee satisfaction, it’s not enough. There is still a lot of room to improve and increase employee satisfaction. Here are some useful tips if you’re strategizing to improve employee satisfaction in 2023.
What are the six elements of employee satisfaction?
Employee satisfaction, in simple terms, means how happy or satisfied an employee is at work. It can be categorized into six elements :
- Work-life balance
- Leadership and management
- Employee experience
- Company culture
Remuneration: Is the employee well-paid or underpaid? Are the employees compensated well enough, and are their salaries at par ( or best) as per industry standards? Are their efforts acknowledged and rewarded from time to time? All these factors are crucial in determining if the employee is satisfied in their workplace.
Work-life balance: Work-life balance is a key factor in employee satisfaction and the team's productivity. While millennials continue to push for work-life balance, other generations also strive to achieve a healthy work-life balance in 2023. If you want to improve employee satisfaction, you have to strive for a better work-life balance. Some ways to achieve it are flexibility, options for remote work, more paid time off, continuously assessing the employees' workload, and leading by example.
Download India Workplace Wellbeing Report Now!
Leadership and management: Employees engaged at the workplace have a high level of satisfaction, as employee engagement and satisfaction go hand in hand. A great leadership team that is approachable, and fosters two-way communication, are better poised to create a satisfied workforce.
Teamwork: Organizations that foster great teamwork have a more satisfied workforce than their peers who do not believe in teamwork. Promoting regular interaction sessions between employees, fostering a culture of collaboration, and frequent team bonding exercises are great ways to promote teamwork.
Employee experience: A positive employee experience starts right from the employee onboarding and matures throughout the entire employee lifecycle until the employee exit the company. Organizations that strive to build a positive employee experience throughout the journey at every touch point are sure to have happy and satisfied workers.
Company culture: Finally, an organization's culture plays the most important role in holistically improving and increasing employee satisfaction through all the above points.
Try Manah's free emotional wellbeing assessment now!
What steps should a company take to improve employee engagement satisfaction
- Open and transparent communication
Remember, communication is a powerful tool to improve employee engagement and satisfaction. Fostering a culture of two-way communication keeps the employees up-to-date about all the latest information at an organizational level. On the other hand, when employees can put forward their ideas to the leadership team, they feel valued and heard. Nurturing a culture of an open and transparent communication system will go a long way.
2. Appreciate great work
Staying motivated at work is important to keep your workforce satisfied. Don't miss any opportunity to appreciate their efforts and the work they put in. While monetary rewards are great, a simple appreciation note or a public acknowledgment equally works well to make your employees feel valued.
3. Offer the opportunity for learning and development
Organizations that invest in the company's learning and development help their people upskill themselves and climb higher in the hierarchy. It also sends out a positive message that the organization is invested in its people. This keeps the employees satisfied and works as a great employer branding initiative.
4. Take care of their wellbeing
Along with learning and development, take care of the overall well-being of your people. Generous medical coverage paid time off, parental leaves, and initiatives to take care of the employees' mental health are some ideas to take care of your people genuinely. And when you do that successfully, there are high chances to increase the happiness and satisfaction quotient of the employees.