What is job satisfaction?
Employee job satisfaction is defined as how happy they are with their jobs. This includes happiness with team members/managers, joy with organizational policies, and the impact of their employment on employees’ personal lives and their daily responsibilities.
An unquantifiable indicator, job satisfaction, is a pleasant emotional response you have while doing your job or being present at work.
Leading businesses are increasingly attempting to quantify this sentiment, with job satisfaction surveys commonplace in most offices and epf calculator online. We hear a lot about job satisfaction, but do you know what it means and how lacking it might affect your company’s productivity?
Keep in mind that job satisfaction varies by employee. The elements that make one employee feel good about their employment may not apply to another employee in the same work under the same circumstances and epfo employee portal.
It’s critical to take a multifaceted approach to employee satisfaction that considers the following factors:
- The demanding nature of work pushes individuals to achieve new heights
- a degree of comfort
- The immediate management and the company express their gratitude regularly.
- Employees receive competitive wages, allowing them to maintain a high quality of life.
- The promise of career advancement that is aligned with employees’ personal development goals
Five Reasons Why Job Satisfaction Is Critical
- Contented staff leads to contented customers.
Employees that are unhappy at work are more likely to show it in their encounters with customers. Employees in contact centres, in particular, cannot afford to be dissatisfied; it will show in everything they say and every campaign they work on.
- There will be a decrease in voluntary turnover.
Turnover can benefit a company’s bottom line because it brings in new talent. On the other hand, voluntary turnover risks losing outstanding talent that has been painstakingly groomed over time.
- You improve your chances of receiving referrals.
Employee referrals are, without a doubt, the most efficient form of recruitment. According to Jobvite research, referrals account for 7% of all applications but 40% of all hiring. A contented employee is significantly more likely to refer their friends than one unsatisfied with their job circumstances and pay range.
- Your productivity is directly tied to your level of satisfaction.
Employees are more inclined to bring their best to work in a favourable work environment every day. According to research conducted by the Social Market Foundation and the Centre for Competitive Advantage in the Global Economy (CAGE) at the University of Warwick, happy employees are 20% more productive than unhappy employees on average!
- You can prevent a hefty amount of money on HR in the long run.
As part of your HR budget, you should typically account for fixed and variable costs. Low employee satisfaction can wreak havoc on the unstable side of the equation, necessitating targeted surveys, specialized learning and development, more career help, and, in the case of turnover, rehiring and retraining expenditures. All of this necessitates a more significant investment than you had anticipated.
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