As business owners grapple with The Great Resignation and high turnover rates, the need for a better understanding of workplace dynamics is of existential importance. Much of the conversation around attracting talented candidates has focused on the material needs of the workforce, but that is only one piece of a larger puzzle.
A 40-year study of more than 20,000 workers found that job satisfaction tends to wane as tenure at a specific organization increases. Changing organizations was found to be a primary factor in improving job satisfaction. This isn’t great news for businesses, as those employees with the most knowledge and developed skills become inclined to leave. Companies tend to focus their internal study of workplace dynamics on information from exit interviews, leaving them with some knowledge of why people go, but not knowledge about why people stay. They mistake the continued presence of employees as a sign that they’re satisfied, while the reality is more likely that circumstantial factors are keeping them in place until something better comes along.
Employees with high job satisfaction are not only more likely to stay and grow with a company, but they’re more likely to do a better job. Keep reading for TalentSpark’s essential tips for improving job satisfaction and bolstering your company’s future.
Provide Fair Compensation and Genuine Commendation
Among the most important aspects of job satisfaction are material compensation and recognition for our work. These things go hand in hand. When people feel undervalued, it disrupts their confidence, kills their motivation and breeds resentment. Fair compensation is a major component of employees’ sense of value. As the saying goes, “you get what you pay for.” Fair compensation removes the stress of financial instability, which is debilitating to mental acuity. It also informs how valuable employees feel their work is. Psychologically speaking, paying employees well indicates that the work they do has real value to you. Valuing them is actually valuing your business itself.
Additionally, employees need active recognition of their work outside of material compensation like pay, benefits and monetary bonuses. Endorse team members on LinkedIn, highlight good work in your monthly newsletter, introduce company-wide acknowledgements for teams and individuals when they’ve done a good job. Words like “thank you” and “great job on that” should become part of your daily vocabulary. Recognizing times when employees are dealing with individual struggles, like health or family emergencies. This acknowledgement also shows that you see and value them.
Develop Dynamic Managerial Methods
As Marcus Buckingham famously remarked, “people leave managers, not companies.” Management is a complex skill that needs to be thoughtfully developed and constantly nurtured. Managing people demands agility, insight and awareness. Poor management is a morale-killer that leads to low productivity and high turnover. A study of workplace organization found that managerial miscalculations and assumptions lead to poor outcomes, due to underworking and overworking employees. Managers need to take a dynamic approach to work, setting appropriate deadlines that accurately reflect the difficulty of a task and an employee’s skills.
Managers should be engaged with the overall output required of their team as well as individual workloads. In addition, managers need to be in tune with the impact of outside factors on employee mental health and performance. They must strike a balance of acknowledgment and solutions to push forward. Managers should cast aside a one-size-fits-all approach to leadership. Understanding the individuals on a team, the types of workers they are and accounting for special needs or unique skills are hallmarks of effective managers.
Clearly Define Employee Roles and Paths for Growth
Role clarity and job satisfaction are intrinsically linked. Setting clear expectations provides employees with both concrete goals and psychological stability. Employees with clearly defined roles report high levels of job satisfaction. On the other hand, their employers receive higher quality output and lower turnover rates. Role ambiguity, on the other hand, leads to stress, anxiety, confusion and frustration. It erodes important professional boundaries and increases burnout. If your company doesn’t have clear definitions of roles, work with your teams to create them. Set and stick to these expectations and you will most likely see a swift increase in overall job satisfaction. Additionally, you should clearly outline the possibility for and path to growth within your organization. Remember that your employees are an investment in your business. Hire with the expectation that your employees will develop specialized skills that will serve your company’s interests longterm.
Develop Satisfying Work Environments with TalentSpark
TalentSpark is a renowned recruiting firm built upon the core value of helping businesses and their employees thrive together. Our skilled recruiters are adept at listening to and identifying your company’s needs. We provide the talent to push your company toward your goals and beyond. From interim talent to gifted managers and C-Suite leaders, TalentSpark approaches every placement with positive growth in mind. Boasting a 93% retention rate, we staff for satisfaction and success for both clients and candidates. Whether you’re looking to bolster job satisfaction at your organization or seek the right fit to hone the trajectory of your business, partner with TalentSpark for guiding-light talent that will drive the results you need.
Contact TalentSpark today via our website, and let’s find your next great hire.