Your business lives or dies based on its people. Treat your people as surplus, and you face limited productivity, efficiency, and high turnover rates.
The Great Resignation of 2022 should have been a wake-up call for employers everywhere. An estimated 50.5 million quit their jobs then, with a further 47.8 million quitting in 2021. Every staff departure represents disruption and loss, both in the wake of a departure and the hassle of refilling the position.
Employee dissatisfaction is an anchor around the neck of your business. To help you grow your small business in 2024, we’ve identified the leading causes of employee dissatisfaction and the best employee satisfaction secrets.
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Putting the Problem Into Perspective
Businesses often make the mistake of assuming that dissatisfaction will be as overt as an employee quitting. But that’s not always the case. Just 45% of workers said they were satisfied or extremely satisfied with their jobs, meaning half of your workforce isn’t.
Despite this, 2023 saw an employee turnover rate of 3.8%. While relatively low, this has other effects on businesses of all sizes.
Firstly, most employees are not particularly productive. One stunning statistic found that the average worker is productive for 60% or less every day, and this number dropped dramatically for office workers.
Even productive workers are not necessarily doing their best to excel. Many are merely coasting, with a Gallup poll showing that only 33% of U.S. employees are engaged, whereas 17% are actively disengaged.
In other words, there’s a high chance that you are not getting the most out of your team.
7 Secrets to Overcoming Employee Satisfaction Challenges in 2024
Adopt the Golden Rule, “Treat people as you would want to be treated.”
You cannot expect to get the best from your team unless you treat them in the best possible way. The problem is many employers don’t know where to begin. So, here are the secrets of nurturing a highly satisfied, highly motivated team in 2024.
1. Appreciate Your Team
It’s human nature to want to feel appreciated at home and work. A lack of appreciation is the leading cause of dissatisfaction by some margin, with 79% of employees saying they will quit if they feel unappreciated.
Feeling valued at work doesn’t have to mean tangible rewards. Around six in ten employees said they wanted to be thanked more at work.
In other words, a lack of appreciation is the main reason for dissatisfaction, but it’s also the easiest to solve. Practice giving your team the props they deserve.
Here are some tips for creating a culture of gratitude in your workplace:
· Be friendly and attentive toward your staff.
· Avoid favoritism.
· Create an employee appreciation program.
2. Improve Your Management Skills
Managers with poor leadership skills destroy the potential of businesses. People want clear instructions and direction.
Your team’s relationship with their leaders dramatically influences their feelings about their jobs. When that bond is broken, loyalty to an organization begins to collapse in on itself.
The first step is to consult your team for open and honest feedback about the pain points they have with management so that you know where to begin, but here are some general tips you can implement:
· Practice open communication.
· Be transparent with information.
· Set clear thresholds for your expectations.
· Provide regular feedback to individuals.
· Trust your employees to escape the micromanagement trap.
3. Provide a Clear Career Pathway
Most people aspire to climb the career ladder. The term “dead-end job” exists for a reason. During the Great Resignation, the Pew Research Center found that 63% of workers were influenced to quit by a lack of advancement opportunities.
Where is the motivation to give 110% when employees lack growth opportunities?
Employees must feel empowered to develop their careers with your support. It doesn’t have to mean promotion exclusively. Opportunities for learning new skills can be a great way to lift your team.
Depending on the nature of your business, some options for career development include mentoring programs, hiring from within, providing extra training, or simple internal mobility.
4. Offer Training and Development Options
Your employees don’t want to job-hop every few years. They want to stay where they enjoy because they know they have no reason to go elsewhere. Like a lack of career advancement, a lack of development opportunities is also a core motivator for dissatisfaction.
Helping staff to grow can motivate them to do better in their roles and generate loyalty toward your company. Successful companies know the value of training and development, which may include:
· Online learning
· Cross-training
· One-to-one performance coaching
· Job shadowing
· Peer-to-peer learning
The best part is none of the above options require day-to-day disruption to your operations or a substantial budget.
5. Improve Your Compensation and Insurance
Employees want to feel appreciated, but it’s challenging when you are not receiving the compensation you deserve. It may surprise you that this does not necessarily pertain to financial matters.
According to a stat reported by Velocity Global, 88% of employees preferred jobs with better benefits and lower pay rather than the other way around. In other words, it’s not just about salary.
Some examples of non-monetary compensation can include:
· Flexible working arrangements.
· Medical cover.
· Unlimited vacation time.
· Wellness benefits.
· Support with childcare.
Each benefit you offer to your employees is not just a token of appreciation, but a tangible manifestation of your commitment to their well-being and satisfaction. After all, benefits such as ironclad insurance and comprehensive recompense policies aren’t just functional necessities designed to provide protection for you and your employees. They’re much more than that.
These policies serve as a clear indication that as an employer, you deeply care about the welfare of your team. They send a powerful message that you value your employees and are willing to invest in their security and peace of mind. By implementing such policies designed to protect you and your employees, you’re showing your team that their safety and satisfaction are your top priorities, reinforcing the bond of trust between you and your employees.
6. Reevaluate Your Workplace Culture
Culture has become something of a buzzword in recent years. In short, culture doesn’t relate exclusively to how you work but to the environment in which you work. According to the American Psychological Association (APA), one in five workers experience a toxic workplace right now.
Even if you love your job, it doesn’t matter if the people you work with are awful. This is why a study found that 72% of employees cited respect as essential to job satisfaction. Employees don’t need to be best friends, but they should be comfortable and relaxed around each other.
Examine your workplace culture and identify potential flaws. Ask questions like:
· Do your leaders act upon employee complaints?
· Are managers speaking to their subordinates respectfully?
· Is there any rude or bullying behavior in the office?
You create positive relationships in the office by scheduling time to address problems before they cause chronic cultural issues and focusing on bringing employees together. Finding those commonalities between people is the foundation of a successful team and an effective antidote to job dissatisfaction.
7. Establish a Proper Work-Life Balance
The average full-time worker spends the majority of their time at work. But working your fingers to the bone will only lead to burnout. Everyone needs time away to focus on family, friends, and hobbies.
When there’s no clear-cut distinction between personal and professional, employees will always find it difficult to draw happiness from their careers. It’s why 77% of U.S. employees reported burnout at least once during their working lives.
This is why entrepreneurs today need to show that they care enough to prioritize their employees’ well-being. In other words, accommodating life outside of the office.
But what can you do to help your team achieve a work-life balance?
· Overtime Expectations – Don’t pressure your team to take on overtime. Reduce your expectations.
· Ask for Volunteers – If your business works during the holidays or sends people on business trips, ask for volunteers. Don’t force obligations down people’s throats if it involves taking them away from their usual routines.
· Consistency – Provide consistency when it comes to scheduling. Avoid last-minute changes or changes without the employee’s consent.
· Provide Choices – Every adult wants agency. They want to feel in control of their destinies. This is why offering remote work options and flexible hours is a powerful tool.
· Encourage Time Off – Did you know that 46% of workers don’t take their whole Paid Time Off (PTO) allocation? Redefine the narrative by becoming an employee who encourages their team to go on vacation and forces them to do so. Make it clear that overwork is not an attractive trait in your business.
Be the Employer Everybody Wants to Work For
The modern worker is changing, and the workplace must change with them. As employees become bolder about switching jobs, companies that want top talent must cater to them.
Understanding what your employees want and changing to suit them gives your business a competitive edge.
