PEOPLES AND ORGANIZATION- Job Satisfaction

 

Job Satisfaction

The degree of enjoyment employees experience with their jobs is known as job satisfaction. This covers topics beyond their everyday responsibilities, such as how their job affects their personal life, how satisfied they are with organizational rules, and how satisfied they are with their bosses and teammates.

                                       

Source: (Alamy, 2024)

Job satisfaction, an unquantifiable metric, is defined as a positive emotional response you experience when doing your job or when you are present at work. Leading organizations are now trying to measure this feeling, with job satisfaction surveys becoming a staple at most workplaces.

It’s important to remember that job satisfaction varies from employee to employee. In the same workplace under the same conditions, the factors that help one employee feel good about their job may not apply to another employee.

For this reason, it is essential to have a multidimensional approach to employee satisfaction, covering the following areas:

· The challenging nature of work, pushing employees to new heights

·  A level of convenience (short commutes, access to the right digital tools, and flexible hours

·Regular appreciation by the immediate management and the organization as a whole

· Competitive pay, which employees maintain a good quality of life

·The promise of career progression in sync with employees’ personal growth targets

Why is  job satisfaction Important?

Employees that actively try to improve workplace satisfaction are more involved, engaged, and willing to go above and beyond for their employers. This has multiple positive effects on  business. (Basumallik, 2021):

·     Satisfied employees translate into satisfied customers:

If employees are unhappy at work, the chances are that this will reflect in their interactions with the customer. Contact centers, specifically, cannot afford to have dissatisfied employees – this is sure to show in every word they say and every campaign they work on.

Even in non-customer-facing jobs, low satisfaction can cause errors in the workflow – for example, a higher defect rate in manufacturing and bad code in software development. This is why employee satisfaction is vital for customer-centric companies.

·         ·     Voluntary turnover will come down:

Sometimes, turnover can be good for business, as it brings fresh talent into the organization. But voluntary turnover looks different – you risk losing top talent you have carefully trained over the years. 

Also, this talent takes with it tribal knowledge once it leaves the company, which could toughen up the competition for your products and service offerings. On the other hand, a satisfied workforce is less likely to quit.

·    You increase the chances of referrals:

Employee referrals are the most effective method of recruitment, bar none. A report by JobviteOpens a new window  found that referrals make up 7% of all applications but an overwhelming 40% of all hires. An employee satisfied with the work conditions and the pay scale is far more likely to recommend their friends than a dissatisfied employee.

Non-compensation related factors make up a big part of this benefit, as employees will assess multiple factors before recommending someone else.

·   Satisfaction is directly linked to your productivity:

In a positive work environment, employees are more likely to bring their best to work every day. There’s also a secondary reason for this – high-satisfaction workplaces prioritize employee wellness. Therefore, they are more likely to look after themselves, and address stress/burnout/health issues, before it impacts work.

·   In the long term, you can dramatically reduce HR costs:

Typically, you need to plan for both fixed and variable costs as part of your HR budget. Low satisfaction could significantly dent the variable aspect of this equation – dissatisfied employees require targeted surveys, specialized learning and development, additional career assistance, and ultimately may lead to rehiring and retraining costs in the case of turnover. All of this needs you to invest more than you had expected.

By making job satisfaction a priority at your company, you can stay ahead of the curve and ensure that there are no unprecedented issues arising due to low satisfaction.

Job Satisfaction Components

                                   

Source: (Basumallik, 2021)

Job satisfaction is related to the psychology of an employee. A happy & content employee at a job is always motivated to contribute more. On the other hand, a dissatisfied employee is lethargic, makes mistakes & becomes a burden to the company. The elements & factors which contribute to job satisfaction are:

1. Compensation & Working conditions

One of the biggest factors of job satisfaction are the compensation and benefits given to an employee. An employee with a good salary, incentives, bonuses, healthcare options etc. is happier with their job as compared to someone who doesn’t have the same. A healthy workplace environment also adds value to an employee.

2. Work life balance

Every individual wants to have a good workplace which allow them time to spend with their family & friends.

Job satisfaction for employees is often due a good work life balance policy, which ensures that an employee spends quality time with their family along with doing their work. This improves the employee's quality of work life.

3. Respect & Recognition

Any individual appreciates and feels motivated if they are respected at their workplace. Also, if they are awarded for their hard work, it further motivates employees.

4. Job security

If an employee is assured that the company would retain them even if the market is turbulent, it gives them immense confidence. Job security is one of the main reasons for job satisfaction for employees.

5. Challenges

Monotonous work activities can lead to dissatisfied employees. Hence, things like job rotation, job enrichment etc. can help in job satisfaction of employees as well.

6. Career Growth

Employees always keep their career growth part as a high priority in their life. Hence, if a company helps groom employees and gives them newer job roles, it enhances the job satisfaction as they know they would get a boost in their career

                                                                

                                        Source: (Thimarchi, 2024)

Conclusion

Maintaining employees requires them to be happy in their jobs. You'll stick with your employer if you enjoy it. More significantly, you will promote the business to others. This could result in bringing in friends, relatives, and acquaintances for your business.

When you are happy in your work, you will be motivated and look for new opportunities to support your coworkers. Engaging in extracurricular activities will demonstrate your organizational citizenship behaviors. Ensuring a high degree of job satisfaction among employees is a role attributed to leaders.

References

Alamy, 2024. Alamy.com. [Online]
Available at: https://www.alamy.com/stock-photo/employee-satisfaction.html?sortBy=relevant
[Accessed 12 04 2024].

Basumallik, C., 2021. Spicework.com. [Online]
Available at: https://www.spiceworks.com/hr/engagement-retention/articles/what-is-job-satisfaction/#_001
[Accessed 13 04 2024].

Thimarchi, M., 2024. howstuffworks.com. [Online]
Available at: https://money.howstuffworks.com/job-satisfaction.htm
[Accessed 13 04 2024].