We often hear the term job satisfaction and hold it with high importance. But what exactly is job satisfaction, why does it matter, and who does it truly benefit?
Job satisfaction can be described as having fulfillment, inner happiness and a sense of pride when completing your work. Often, employees will value their level of satisfaction when doing their job above all other factors (ex. salary, flexibility, etc.).
Ensuring job satisfaction within your organization is critical to ensuring successful employee performance and an efficient business, and it takes the determination of the whole company to keep morale high. From the executive level and managers to human resources, ensuring job satisfaction amongst all employees is a top-down effort.
So, who does job satisfaction impact? Job satisfaction affects not only the employees working at an organization but also employers. We’ve broken down a few key reasons why job satisfaction is essential.
When employees have growth and fulfillment within their organization, they are more likely to support its objectives and desire to succeed. Employees are more engaged, willing to take the initiative, and bring higher profitability to the organization.
By bringing more energy and enthusiasm to their work, employees with high job satisfaction can boost profitability by 21%.
Turnover rates can become costly for any organization. The cost of turnover rates has been said to be anywhere from 25% to 200% of the employee’s salary. The process of bringing new talent to your organization involves a lot of costly and time-consuming factors.
From interviewing, onboarding and training to providing new hires with equipment and material – these steps can all add up! By acquiring the right talent and ensuring they are satisfied in their role, you are reducing the risk of turnover and mitigating its costs.
Let’s take into consideration that most of the day for employees is dedicated to working at their respective organizations. When employees are dissatisfied with the organization they are expected to spend most of their time at, they are more inclined to be absent.
Absence can be literal and figurative. While it may be more evident in the sense that the employee will take more sick days, absence can also be present while they are at work. Their unhappiness may result in fatigue, disconnection from colleagues, submitting work late or to a lower degree of quality, and more.
Better company morale
Happy employees are more loyal. When employees are satisfied with their job on a regular basis, they are more likely to spread their happiness and positivity among their coworkers.
Forward Path Group can help to ensure your human resource department is functioning efficiently and effectively
When was the last time you asked yourself if the job you are working at is right for you? There is no one perfect factor that ensures job satisfaction. It takes many ingredients and may vary depending on the organization to ensure that employees are content working there.
Forward Path Group provides quality human resources strategic consulting solutions to ensure your capabilities are efficient and effective. With the organization’s goals and vision in mind, our team of experts work to provide flexibility and alignment to your human resources department. Contact us to learn more about our human resources strategic consulting solutions.