With the U.S. economy in yet another consecutive year of growth and unemployment achieving historically low levels, it is no longer satisfactory for an organization to be able to just attract employees. An organization must be able to attract and also keep employees. Understanding and committing to whatever it takes to develop a staff of satisfied employees is vital. Satisfied employees contribute to positive business outcomes and also reduce the enormous cost associated with excessive employee turnover.
Recently, a survey was developed by Office Team, a national staffing service, and was conducted by an independent research firm. One hundred and fifty Human Resource departments and employees ranging from executives to hourly employees from some of the nation's 1,000 largest companies were polled to see how employees rank their satisfaction on the job. Of the people surveyed, 47% said that praise and recognition were the most important in determining job satisfaction. Promotions ranked second at 26%, perks were 7%, and 2% was classified as other. As these survey results show, employees are most concerned with being recognized by their bosses as being good workers and being praised as such.
Another study carried out by Office Team asked 150 executives and managers in international companies about employee retention and why workers leave their jobs. Out of the 150 polled, more than one third (34%) reported that it was lack of praise and recognition that pushed employees out the door. Compensation does play a part in employee satisfaction, but only 29% of those surveyed reported this as the reason for employees leaving. Other factors leading to employee job-hopping include having limited authority (13%) and personality conflicts (8%).
Organizations that provide recognition enjoy higher levels of job satisfaction among their employees. Additionally, there is a strong statistical correlation between employee satisfaction and increased company profits. If workers are recognized for their achievements in the workplace, they are more inclined to put forth their best effort. Employees consistently cite a value-centered, creative and responsive environment as factors that lead them to choose to remain with one organization rather than another. They want to know how their contributions are valued - not just once or twice a year at performance reviews, but as work is performed and goals are met.
Interview Surveys
