The pursuit of employee happiness: it’s not just about money
In a world where companies are facing rising costs, what no employer wants to have to deal with is the hiring and training of new employees. Replacing employees can be costly, with employers often paying up to 200% of the employee’s salary. As such, the pressure is on to find ways to encourage current employees to stay in the long term.
Maintaining employee happiness is key to this endeavour.
While money is widely thought to be the key determinant of employee job satisfaction, studies show that the modern employee is influenced by many other factors. JobsDB.com’s Job Happiness Index 2016 found that a significant portion of employees in the region considered a good location, a good reputation and good colleagues as the key drivers of happiness. This suggests that, to retain employees, employers do not necessarily have to shell out for extravagant bonuses, but instead focus on some of the non-monetary motivators that go a longer way.
A comfortable work environment
Having an uncomfortable working environment is one of the leading causes of employee dissatisfaction. The work environment is characterised both by the physical surroundings and by employee culture. The best workplaces are in good, accessible locations, are welcoming and are conducive to employee inspiration and motivation.
Employee benefits
Today’s employee puts a lot of stock into a good benefits package. Some of the best employers are paving the way in employee happiness by offering selective benefits, where employees can tailor their personal benefits package by selecting options from a list.
Doing so can be a cheaper option in the long run, as employers can potentially arrange beneficial deals with service providers, allowing employers to both save costs and keep employees motivated.
A clear career roadmap
Employees need to know where they’re going in order to feel motivated. Those who do not feel like their career is progressing will often change jobs or lose interest in performing to the best of their abilities.
By offering an upward career roadmap, employers can help employees to take charge of their career progression and to feel like their hard work is leading somewhere, which in turn brings about employee happiness.
Strong leadership
Not many employers realise just how much their actions influence employees. When employees see their leaders putting in minimal effort, they become demotivated and have little incentive to give their all. This is compounded when the organisation has no system in place to reward hard workers.
To motivate your employees to do their best, you must lead by example. Make sure your employees see you working alongside them; by doing so, you can inspire your employees to step up their game.
Overall, the most important thing for employers is to listen to employees; direct feedback from employees can help employers know exactly what their employees need and what issues are currently affecting employee morale.
By being proactive and susceptive to employee needs, any employer can make a good company a great one.
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