A just issued report by the Conference Board (a highly respected business research organization) asked employees to rate their satisfaction with 23 different aspects of their employment.
- Only 51% of respondents expressed overall satisfaction
ISSUE | SATISFACTION LEVEL |
Pay | 43% |
Retirement Benefits | 43% |
Healthcare benefits | 44% |
Sick Leave | 49% |
Vacation Time | 54% |
However, there were multiple matters that are not financial that were rated even lower in satisfaction than pay & benefits:
ISSUE | SATISFACTION LEVEL |
Promotion Practices | 26% |
Training/Development | 33% |
Performance Review Process | 33% |
Recognition | 37% |
Communications | 38% |
Here’s a quote from Rebecca Ray (Ph.D.), the report’s author:
“To attract and retain the most productive employees in today’s labor market, companies must make a bigger commitment to addressing the factors within their control. Among other steps, that entails addressing the job components with which employees are least satisfied, including job training, the performance review process, and promotion policy. As workers continue to voluntarily leave their jobs at a record rate, the need to prioritize components relating to their professional development could not come at a more pressing time.”
These report’s results, along with Dr. Ray’s comments, provide some important insights, which in turn we as employers can turn into actions in order to improve employee satisfaction – with no or minimal additional expenses. By improving employee job satisfaction, some examples of what companies can derive from doing so are shown below:
- Higher morale
- Lower turnover
- Greater attractiveness to candidates
- Increased productivity
- Reduced abstenteeism & presenteeism
ALL OF WHICH = GREATER PROFITABILLITY
TRINITY HAS A VARIETY OF WAYS TO HELP YOU TO IMPROVE YOUR ORGANIZATION’S PERFORMANCE THROUGH IMPROVED EMPLOYEE SATISFACTION. TO FIND OUT MORE:
- E mail Trinity at info@TrintyHR.net
- Visit our website at www.TrinityHR.net
- Call us at 856.905.1762 or Toll Free at 877.228.6810
You have HR opportunities…Trinity has paths forward!