We’re sure you’ve heard it a million times already, but it’s happening: The Great Resignation. It started in 2021 on the heels of the COVID 19 pandemic. Suddenly, workers were quitting everywhere. Not just at fast food joints or low-level retail, but in every kind of job imaginable, and they were doing it in greater numbers than they ever had before.
Huge job losses due to the pandemic led to a tight labor market, which in turn led to an employee-driven market where talent could dictate what they wanted from their employers and if they didn’t get it? They left for a company that would give it to them.
Simply put, there’s no stopping this shifting attitude towards unhealthy and unhappy workplaces. So now you’re only opportunity as a business owner or manager is to figure out how to make your employees happy and keep them there.
Here are five of the top ways you can keep your employees satisfied:
Compensation
Everyone loves a pizza lunch occasionally, but you’re sorely mistaken if you think it makes up for a lacklustre salary. Compensation has been repeatedly listed as one of the main reasons for employee dissatisfaction, and it only makes sense in an economy plagued with inflation. The first rule to prevent your employees from leaving is to make sure you’re paying them fairly.
Some companies are even going as far as to offer on-demand pay, which gives your employees access to their wages early.
Feedback
No one wants to work in a void, and your employees are no different. People crave feedback and feedback is critical to overall employee satisfaction. Managers should master the tricks of providing helpful feedback. Look for feedback to be constructive, genuine, positive, and immediate.
Work-life Balance
People don’t live to work; they work to live. Balancing work-life in today’s world of work-from-home and remote jobs but can be challenging, but it’s a key factor in your employees’ overall happiness. Long hours and tight deadlines can lead to overworked employees that could end up with burnout. Once they reach that point, there’s rarely any coming back as a happy employee. This is twofold: the first is that they will see your workplace as the thing that burnt them out (and it did) and burnout is nothing to scoff at. This very serious medical condition can cause an array of long-lasting issues for people.
Develop Employee Skills
Don’t let your talent stagnate! Your employees are people who want to learn and expand on their skillset. Giving your employees the room to develop skills that they’re interested in and that can benefit your business will boost this job satisfaction while increasing your organizational growth, and it shows you care about their career development.
Reward and Recognize
Compensation isn’t just about money, being appreciated and rewarded for a job well done is a great way to increase employee satisfaction. Send out thank you gifts after completing large projects (just make sure they’re gifts your employees actually want—no free company swag!). Rewards and recognition provide psychological fulfillment that helps your employees feel they’re in the right place for them.
