Benefits Of Employee Satisfaction And Retention

It has been shown that employees who have a high satisfaction rate on the job or with the company that they work for, are less likely to leave the company that they work for compared to those who have a less satisfaction rate (Hellawell, 2012). As mentioned earlier, this would result not only in cost savings, but it would improve the overall relationship between the employee and the company. Employees that are committed and satisfied are not only not going to leave, they would also be able to contribute more and be more effective and efficient.

Organizations that are serious about making improvements are going to have to deal with the issue of job satisfaction. Job satisfaction can be best described as the positive feeling that an individual has about their job resulting from an evaluation of the job’s characteristics (Robbins & Judge, 2009, p.31). It would seem natural to think that job satisfaction would have a positive correlation with successful organizations. What impact does job satisfaction have on an organization? Research will show that there are not only internal effects from performance related issues, but also external effects that impact customer satisfaction.

Thirty-one percent of employees are at least marginally dissatisfied with their current employee benefits while twenty-six percent are completely unsatisfied (Fronstin, 2013). It is the hope of the company to offset these feelings of dissatisfaction by uncovering what are the most desirable benefits available to employees. It has been found that there is a blatant correlation between employees that are happy working for a company and the success of said company (Stanger, 2013). Figure 1.1 displays benefits that employees find to be the most successful.

Which results in better performance, greater efficiency, improved customer satisfaction, and lower costs, turnover, and absenteeism. In the current business and organization literature, employee satisfaction, respect, loyalty, and an atmosphere of feeling valued is imperative to the success of a business. The feeling that an employer sincerely cares for its employees is remarkable. In line with Gupta & Agarwal (2012), it is imperative that employees understand the worth of their lives in the workplace. Companies that express a genuine mutual care towards its employees gets better results. They are motivated to work harder and smarter. Many employers are only interested in the bottom line and performance, not their employees’ well-being and their

In today’s work place employee satisfaction is just as important as it has ever been in history. With employer cutbacks, job eliminations, pay reductions, and business closings employee satisfaction must be at the forefront of employer’s plans to be successful. In the case of Riordan Manufacturing the company has a problem it cannot ignore, employee motivation. Riordan Manufacturing is a global plastics producer that employees 550 people and earns an

Employees are the most useful resources in every organization. They are the people who propel the organization toward achieving its objectives and goals. Employees need to be treated like the most valuable assets in the organization. For the employees to be fully optimized and work toward achieving all the organizational goals, they need to be motivated and satisfied in whatever they do.

After analyzing this organization, it is apparent to that job satisfaction should be a priority for management. Job satisfaction can be best understood as a positive emotional state resulting from a perceived satisfaction from one’s job (Locke & Lathan, 2007). Employee satisfaction is an important retention strategy based on the knowledge that a satisfied employee is more effective in completing their duties, more productive, and seldom contemplates alternative employment. Achieving a goal of a high employee satisfaction rate consist of implementing compensation and reward strategies mentioned prior. It should be emphasized that employees, regardless of industry respond in a positive manner to positive recognition. Positive recognition can be achieved with more than compensation and rewards. Creating an atmosphere where employees feel like their ideas and opinions matter can be just as effective as monetary and non-monetary rewards. A routinely exchange of ideas

The article, “Better Pay and Benefits Loom Large in Job Satisfaction”, by Stephen Miller seeks to address how recognition and benefits affects the way employees determine their job satisfaction. The research problem being addressed is whether companies are able to retain the top talent employee and how the “compensation package” affects their decision to work at the company.

Even though employee retention starts with attracting potential employees, today’s society has placed a new and greater demand for skilled and educated employees as new hires for their companies. These employees, however, are starting to become harder and harder to find. So

Research indicates that employers can increase employee retention, increase employee productivity, and reduce employee healthcare costs by implementing a workplace wellness program.

Tillman, A. (2013). Improving Worker Satisfaction Yields Improved Worker-Retention Rates. Employment Relations Today (Wiley), 39(4), 27-31. doi:10.1002/ert.21386

Job satisfaction is a pleasurable or positive emotional state resulting from the appraisal of one’s job or job experiences. It has been treated both as a general attitude and satisfaction with five specific dimensions of the job: pay, the work itself, promotion opportunities, supervision, and coworkers. Challenging work, valued rewards, opportunities for advancement, competent supervision, and supportive coworkers are dimensions of the job that can lead to satisfaction (Nelson & Quick, 2013, pg.

Recently, Netflix restructured their parental leave policies for both new mothers and fathers to receive an unlimited paid leave for up to a year. The company then permits the workers to return part-time or full-time as needed for a better transition into the balance between a career and a new child (Spar 98). At first, this generous plan singularly applied to salaried workers in the streaming division; however, after a few months of persuasive input from employees and customers, Netflix decided to offer restricted benefits to hourly workers, with up to sixteen weeks of full pay ("ValueWalk"). Although uncommon to companies in the United States, a plan of this nature will amplify economic prospects by enhancing recruiting ability and promoting the health of workers. Thus, business should have policies that mirror this support and flexibility of providing paid parental leave benefits.

Job satisfaction is the very important factor in general quality of life because it is closely connected with working life (e.g. Argyle, 1989; Bang & Lee, 2006), with family life, everyday life, and mental health (Orpen, 1978; Schmitt and Bedeian, 1982; Faragher, Cass & Cooper, 2005). Level of job satisfaction is also highly related to turnover, absenteeism rate, work productivity or accomplishment (Muchinsky, 1977; Organ, 1977). Many researchers (e.g. Cherrington, 1994; Acorn, Ratner & Crawford, 1997; Ostroff, 1992; Spector, 1997) state that employees who experience high job satisfaction contribute to organisational commitment, job involvement, their physical, mental health and overall well-being are improved. Job dissatisfaction on the

Today’s business environment is highly competitive and rapidly changing. Many organizations are competing to survive in this environment. Motivation and the employee job satisfaction are essential for the long-term success of the organization team. Evaluation of the employees’ job satisfaction is a major problem of the Organization, until it affects the achieving of goals.