While the good news is the low unemployment rate, the bad news is a tight labor market means businesses must compete to attract, hire, and retain the best. When there is no longer a bigger pay gap between companies, workers look at other factors (cue the warm puppy).
Shifting from an employer-centered to employee-centered workplace structure is necessary to attract and retain valued workers. How can your organization make this shift? Let’s look at some of the top components of job satisfaction.
Work-life balance, culture, respect, and benefits are just a few of the top job satisfiers that will help attract, hire, and retain those top performers.
- Work-life balance 83% of millennials (people born between the early eighties and mid-nineties), consider work-life balance to be the most important factor in evaluating a potential job while 62% of baby boomers consider work-life balance a factor when deciding whether or not to take on a new role.
- Culture – 79% of American workers say company culture is an important job satisfaction factor.
- Respect – Employees who feel their superiors treat them with respect are 63% more satisfied with their jobs.
- Benefits – 72% of surveyed professionals say having more work benefits would increase their job satisfaction.
Engaged employees who feel good about their job, achieve better results, have a good work-life balance, and feel appreciated positively impact the company they work for. Their positive feelings spill over into the company’s performance, resulting in higher productivity and more revenue.
Some of the ways these top job satisfiers can be supported:
- Job-sharing, flexible work schedules, and remote work arrangements can support a work-life balance. While some of these may not be suitable based on the type of task, leaders who seek input from their employees help to foster culture and respect.
and respect go together. Attributes of a strong culture are respect and
fairness, trust and integrity, and teamwork. When employees feel respected by
their leaders, job satisfaction levels increase, which leads to increased
engagement, heightened employee focus, and employees who are more likely to
stay with their organization. Three simple ways to achieve a strong culture:
- Be respectful
- Communicate what’s happening – and why
- Promote accountability and fairness
- Providing benefits (such as insurance) may be another bigger ticket item that cannot be supported by the business; however, things like paid time off for part-time workers, in-office perks such as free coffee or snacks, or company-sponsored gym membership (and the time to enjoy its destressing benefits) are all things that influence job satisfaction.
Employees are your business’s most valuable asset. Appreciate them and reap the benefits they bring to your organization.
How Can We Help?
If you or your team want to identify ways to support a strong culture and happy employees, contact Theresa or visit our Contact Us page to schedule a “get to know” conversation. You’ll get clarity on the issues you face and the next steps to consider – whether or not we decide to work together.