How Important is Employee Satisfaction?
In the world of business, there's no short supply of leadership. Almost everyone strives to become manager, team lead, or project leader. What really separates the great leaders and the common ones? What quality does the leader who attracts have that the leader who repels talent doesn't? The answer is the ability to recognize and appreciate talent in others.
There are a lot of different things that go into making a business successful. But when you are in charge of a company, it can sometimes be tempting to forget everything else and focus on the bottom line or how much money you are making. But profit is directly affected by everything else that works together to make a company successful, including (and perhaps most importantly by) a good set of employees.
But just how important is employee satisfaction? Some companies place a lot of value and resources on reward programs to make sure that employees are kept happy, but does it really convert into real profit for the company?
A Happy Employee is a Good Employee
It goes without saying that, as a company, you want to hire only the best people who will do the best possible job. However, everyone has different levels at which they work, and you do not want to be getting someone's B or C level work, when you are really aiming for their A standard. And it has been proven time and again that one of the best ways to get someone's best work is to make them comfortable and happy. A happy employee is a good employee.
Furthermore, when you hire those high class employees for your company, you want to make sure that they are there for the long term. Some companies do not place much value on employee retention; if you are a big enough company, there are always people who will want to work for you. However, the best companies realize that it is incredibly important, as it creates a much better work environment, good publicity for the company, healthy competition for places, and less wasted time and resources on hiring. Employee Appreciation is one of the best ways to increase employee retention.
Not only does good employee satisfaction create a happier set of employees, but it also increases productivity in general, as people know that they will be rewarded for the hard work that they do. This increased productivity does not come the cost of a high stress, unhappy work environment; rather it comes as a direct result of a satisfied collection of employees, who are relaxed and willing to give their best work to the company. This alone makes it worthwhile to spend some extra money and resources on some form of reward program for your employees.
Creating a Community
And when you have a workplace that is happy, you will soon find that it creates a sense of community, a group of individuals who will give their all for the each other and the company as a whole. This is the sort of thing that turns a good company into a great one. People want to work for you, employees want to stay in the company, and the publicity spreads to create the sort of company that thrives in this modern business world. How important is employee satisfaction? More important than you know.