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A SATISFIED EMPLOYEE IS A PRODUCTIVE EMPLOYEE
Companies with a satisfied workforce typically have higher than average productivity, more satisfied customers, lower employee turnover and fewer accidents, says recruiting experts Hays.
In the wake of the global financial crisis, productivity and cost-effectiveness is top of mind for many employers. Many business leaders took time to review their operating procedures and scrutinise outputs and the costs of those outputs, in order to find areas for improvement.
Emma Charnock, Regional Manager of Hays in Hong Kong and China, says what is surprising is that so many businesses either forget to carry out or are yet to implement strategies aimed at improving employee satisfaction.
“The relationship between employee satisfaction and productivity has been researched for many years. It stands to reason that if an employee enjoys their work and feels they are valued, they will be more productive which will have a huge impact on the bottom line.”
“There are a variety of strategies available and depending on the workforce, business culture and values, any one of these will assist employers get the most from their staff,” says Charnock who offers the following advice:
1. Implement an effective induction process: “The first day, week and even month of a new staff member’s employment should provide the necessary training and understanding of the role and your business. This may seem like a lot of work, but without it your new employee may feel they don’t fit in and their productivity can drop while they try to find their own way.”
2. Develop your talent: “Over the years we have surveyed many candidates and discovered the majority feel more committed to an employer who invests in their training and development and without it would look for a new job. As we enter a candidate-tight market, it is even more imperative that employers invest in the training and development of their staff to aid in retention.”
3. Celebrate success: “Performance-related pay has a definite impact on productivity as it is often based on achieving or exceeding set key performance indicators or targets. Monetary rewards however are usually very short lived. What is more important is that the reward makes the person feel valued – so often a ‘well done’ and internal recognition for a job well done can be more valued than a monetary reward.”
“Any company looking at implementing a successful rewards/recognition program should look at what their employees want. A ‘one size fits all’ mentality will not work as what one employee values, another will not.”
4. Offer flexibility:. “Flexibility is an important factor in overall workplace effectiveness as it can improve employee engagement and job satisfaction as well as reduce stress. Offering flexible working arrangements, such as location and the hours staff work, to the types of technologies available to them such as video conferencing and remote access, promotes a work/life balance and can save a large company millions of dollars in unscheduled absences.”
Hays, the world’s leading recruiting experts in qualified, professional and skilled people.
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