Can Employee Satisfaction Increase Your Revenue?

Traditional management theory treats workers like any other input — get as much out of them as possible and pay them as little as you can get away with. Believe it or not, there are some companies that still see employees as just another necessary business expense. But unlike equipment and taxes, your employees interact directly with the customers who keep you in business! If I were a business owner, I would want to make sure the employees who are talking directly to my customers have only good things to say about the company that they work for. There are many misconceptions about what it means to improve employee satisfaction. 

Let me put your mind at ease and tell you some things that employee satisfaction is NOT:

• Giving employees what they want
• Making them smile everyday
• Paying them a high salary
• Letting them do what they want, when they want
• Letting them take two hour long lunch breaks

What employee satisfaction IS:

• Listening to their ideas and concerns
• Treating them with respect
• Clearly communicating expectations in the beginning
• Following through with those expectations
• Making sure they have the tools they need to do their work
• Providing extra training where necessary

 

Having happy employees increases motivation:

Why would you slack when you have a job that totally rocks? If you appreciate the fact that your company takes care of you, you might put in the extra effort to help the “team.” Pleasant working conditions can lead to employees identifying with the firm, and thus exerting more than a minimum effort towards their tasks. According to Maslow’s hierarchy of needs, after basic physical and safety needs are met, what humans crave the most is a sense of belonging. Studies show that the employees who feel the greatest sense of belonging in their companies are more likely to work overtime, help others, and go above and beyond on their projects and tasks.  

Retention: Happy employees want to stick around. Most reasons that people leave jobs are completely preventable! It has been said more than once, and for good reason, that employees leave their bosses – not their jobs. How many employees have you lost because you were more concerned about the monthly sales numbers? How much time do you spend asking your employees to be open with you about their experience with their managers? Many employees would be willing to supply additional time and effort when asked of them, if they felt satisfaction with their job and work atmosphere.

Recruiting: Reydon’s Company probably has an easier time recruiting employees than Nyakwaka’s Sweat-shop factory. (Although we can’t all offer our employees free massages and haircuts throughout the work day) Employee satisfaction can be a powerful tool for recruiting more loyal employees. Just like your business would benefit from your best customers recommending their friends, your business thrives when your best employees recommend their friends. How much time have you spent this year trying to fill various positions at your company? How much easier would it be if your employees raved so much about their love for their job that people were lining up to work for you? Then you could have the cream of the crop!

There is no substitute for employee satisfaction. Even raises and bonuses cannot bring a true sense of satisfaction to your employees. If you are feeling curious about your employee’s satisfaction levels, give CPM a call! We can conduct in depth interviews with your employees, so that you can find out how to utilize your most valuable asset, your employees!