What Is the Cost of Employee Satisfaction?

What Is the Cost of Employee Satisfaction?

This discussion is to highlight the significance of employee satisfaction, a major contribution factor to the overall development of an organization. The firms must suitably educate the employees during training and development, about the company plans and needs, including building knowledge and capabilities, and contributing to improve employee performance and development. The firms must maintain a work environment and climate that proves conducive for the well-being, satisfaction and motivation of employees.

Work environment:

• Involves well-being factors such as safety, health and ergonomics

• Services,facilities,activities and opportunities

Ergonomics is gaining importance day-by-day as all business activities are computer based and it involves a sedentary life style where people are forced to work in computer terminals for a long time with erratic time schedules. Lack of mobility and sitting in the same posture make their lives miserable and they become prone to many diseases that may involve rheumatism, back pain and obesity.So, modern corporate companies design their work environment in such a way, that it gives some leverage for physical activity and free movement. Human engineering is gaining popularity as it is concerned with the well being of the workers, in terms of man versus machine compatibility.

Compensation:

1. All aspects of pay and rewards
2. Promotions and bonus
3. Individual and group compensation and recognition
4. Provident fund and gratuity consideration
5. Health insurance policies for the workers and their family
6. Education and training:
7. Appraisal of overall work and development objectives
8. On-the job training
9. Classroom instructions
10. Computer-based coaching
11. Employee services:
12. Counselling career development and employability services
13. Recreational or cultural activities
14. Non-work related education
15. Day care
16. Special leave for family responsibilities
17. Safety off the job
18. Flexible work hours
19. Specific factors affecting satisfaction:
20. Problems regarding grievance resolution
21. Employee views of management
22. Employee career opportunities
23. Changes in work environment in terms of technology or structure
24. Work load
25. Co-operation and team work
26. Recognition
27. Communication
28. Compensation
29. Equality of opportunity
30. Benefits

The measure of employee satisfaction is evident from factors such as absenteeism, turnover, strikes, productivity etc; Training plays a major role in preparing the employees to be skillful and enthusiastic about the job. From time to time the employee development activities have to be evaluated in the light of performance levels, efficiency in delivering what is expected and productivity.

To reduce the monotony and dullness prevailing in the work environment, management can go in for techniques like Job rotation- that provides the employees with an opportunity to widen their knowledge on the activities of different departments and have a hands-on-experience as well, Job enlargement -that makes the employees skillful in shouldering additional responsibilities which is an excellent way to develop the employees as expert decision makers and Job redesign-that makes the job more interesting with new modules.

The most important aspect that defines employee satisfaction is the relationship between the union and the management. The management should have the foresight to sense unrest if any, in the worker force and immediately go in for a suitable agreement that will satisfy the wants and demands of the workers. In some Asian countries, even the workers are allowed to take part in decision making, in order to make them understand how intricate the process of management is and it has to pass through rough weathers too.

It all depends on how the firm relates employee satisfaction to key business results and/or objectives to identify improvement activities.