How Important is Employee Happiness to a Company's Success?
More mechanization, automation and technological progress may have put the concerns of the employees in the back seat. You may think investing in technology is more important as it can help in doing repetitive jobs and reduce manpower costs. However, as in the case of a vehicle, the quality of the man behind the wheels is as important as the efficiency of the engine; productivity, growth, profits and shareholder wealth have been linked to job satisfaction of employees. Most often, companies think more money can keep employees happy.
Many surveys have shown that salary or incentives are only one factor that contributes to happiness but there are other less expensive ways to keep them happy. When employees are seen as partners in the growth of your company, the results are encouraging.
Here are 7 reasons why you should take employee satisfaction seriously
1. Employees are Happy When They Get Appreciation
Employees are happier when they are appreciated for doing a good job. It could be a small note kept at their table in the morning, or an award for excellence, or an email thanking them for the excellent job done. They will value it much more than monetary incentives.
2. Stress Causes Health Problems and Lower Productivity
Over work, too much criticism for not meeting deadlines or targets can lead to cardiac problems, mental stress, lack of sleep and concentration, which in turn cause absenteeism from work. When you don’t give appreciation to workers and demotivate them when they go wrong, their productivity will be lowered. Attrition rates will be higher.
3. Dissatisfaction Leads to More Attrition
You might have seen in some companies and industries that the attrition rate is quite high despite good salaries and incentives. This is because they get dissatisfied with the work atmosphere and HR (Human Resource ) management. When people leave all of a sudden, your projects and processes may get disrupted leading to consumer dissatisfaction.
4. Motivating and Re-Skilling
It has been observed that the more you motivate your employees by way of appreciation, incentives, awards and personality development programmes, the more they contribute back to the organization. When you provide support for re-skilling or learning new skills, employees are happier.
5. The More You Engage Them, Better will be the Productivity
Employees who feel disengaged from the company contribute less to their work. They feel valued when you provide security, respect, support and motivate them to achieve the goals of your organization. When they are under stress and pressure and are quite unhappy with the work culture, they will be disengaged, impacting your profitability.
6. Health, Child Care, Recreation Facilities
If your company provides health clubs, gymnasium or indoor games to the employees for relaxation, stress-relief and keeping fit, satisfaction and performance levels are bound to go up. Women with infants feel more comfortable at work, so if they can keep them in a crèche nearby with trained people to take care of them, it will benefit your organisation.
7. Worker Safety
If your company is involved in mining or chemical processing that involves risk to workers, giving importance to their safety is of paramount importance. It improves productivity and removes fear in employees.
When your company is empathetic to a loss or suffering of an employee, they feel cared for and valued. Visiting them when they are sick, providing monetary support for an unexpected emergency, giving a short vacation to a team for producing good results or showing kindness are all less expensive ways of making employees happy. It will improve their morale and make them feel important.
Six Important Rules of Etiquette to Remember for Your Office Pantry or Kitchen
Six Important Questions You Need to Answer Before Launching a Startup Business
Seven Important Lessons on Business and Leadership From HBO’s “Game of Thrones”