How Employee Satisfaction Determines Your Company’s Success
Companies and small businesses all over the world are increasingly focusing on employee satisfaction. This is because; a company’s workforce is the dynamic resource that keeps the business running and performing efficiently. An enterprise that has involved and contented employees, continues to be successful, and that success ultimately translates into larger profits and growth. Business owners must understand that employees need more than just good salaries and higher designations that they can get that at other companies also. Read ahead to know what are the added incentives you can give your people to ensure that they enjoy working and remain committed to your company.
Recognize the Individual
Your employee is more than someone who works for your company. Understand that he could be a parent raising young kids or a caretaker to elderly parents and relatives. He could be spending long hours commuting to and from work or might have to deal with other responsibilities at home. If you can allow him the flexibility so he can manage all these roles, you could create a happy worker who is dedicated to his role in your business also. Offer some leeway by allowing him to take a day of paid leave, letting him work from home or over the weekend. You could also permit putting in an extra hour after closing time to make up for arriving late. The small allowances that you make can ease some of the stress that he’s going through, and he is likely to offer you better productivity.
Be a Supportive Manager
Employees need to feel valued and respected. They also need to know that their contributions to the company are significant. This awareness develops a sense of self-confidence and security in their position in the company. If a worker has an employer that welcomes her ideas and encourages her to take initiative and work well, she is likely to work harder to expand your enterprise. Feeling involved and a part of the operations will make her focus on the success of “her” company. For instance, she could bring in more customers and economical suppliers. Both these factors are essential to the success of your operations.
Consider this an extension of the previous rule. When an employee achieves a milestone for the company, whether big or small, applaud and acknowledge the effort. It could involve the accomplishment of an important project or the bringing in of a huge account. Or, it could be something small but no less significant like getting a crashed system up and running again. Everyone likes to feel appreciated for his efforts, and you can expect him to step up again when needed. Put up a message board and post his picture with a note detailing his work. Or, you could offer a coupon for dinner at a happening restaurant. Any form of “Thank You” makes a happy and contented worker.
Share Profits and Losses
Giving your employees bonuses and stock options in your business is a great idea. Incentives like these show employees that their hard work can pay off. If they work well, and the company performs well, they’ll get a share in it too. At the same time, if you’re holding off the bonuses because the enterprise has had a bad year, make sure that rule applies to every tier in the management. Allotting bonuses to the managers and executives and not to the other workers makes them feel that they’re being treated unfairly. Eliminate the possibility of resentment by being upfront about the financial situations the business is facing, either positive or negative.
When you give a project to your team, share with them vital details such as the customer they’re working for and the prestige your company hopes to gain from the account. You could explain what the project is all about and its end objective. Once your people have a clear understanding of what is expected of them, they’re likely to come up with inputs on how to make it successful. Work with them as a team and give them the opportunity to be involved, not just in the project but also in the success of your company.
Offer Help Dealing with Situations
Keep watch on your business activities and zero in on the situations that your employees find most stressful and difficult to manage. For instance, if you notice that workers deal with irate and disgruntled customers all the time, initiate a training program to teach them how to handle queries and complaints. Doing this sends the message that you care about employee problems and support them all the way. As a result, your customers will receive better care and your satisfied workers will be happy to provide that care.
Offer Opportunities to Air Grievances
Possibly one of the best ways to ensure employee satisfaction is to provide them an outlet for their concerns. Set up a forum or web page where they can talk about issues in the workplace that are counterproductive. Go over them very carefully and work on solving the issues. You could offer the element of anonymity to encourage open discussions about what your people think and feel. By arriving at and implementing solutions, you can help promote efficiency.
Encourage Career Development
One of the primary concerns every employee has is stagnating at her job. On your part, you can offer deserving talent the opportunity for advancement by free training workshops and paid courses. As their skills develop, they can look forward to promotions, higher posts and better salaries. Your company also gains better-qualified personnel that are familiar with the workings of your operations and can use their newly developed skills for progress and success.
Along with fair salaries and remunerations, your employees need more to motivate them to work for the success of your company. They need to feel like they belong to and are a part of the culture of the place where they work. You can provide that work-conducive atmosphere and promote employee satisfaction that is so essential for the progress of your business.