Your company needs its employees to remain a well-oiled machine. Without your employees, the cogs and gears that make up your engine will not work in perfect sync. That’s why keeping employees satisfied and engaged is crucial in any organization’s success. Your employees are your best and most valuable assets, and you should take great care of them.
While there are a variety of ways to make employees happy, providing benefits can certainly boost their morale and overall satisfaction. A recent study by Jobstreet Philippines revealed that salary, company benefits, and incentives are the top drivers of employee satisfaction, with 64% of respondents claiming it to be the most important determinant.
ADVANTAGES OF KEEPING EMPLOYEES HAPPY
Numerous studies have already proven how employee happiness influence employee engagement, talent retention, employee productivity, and ultimately, company profit and revenue.
Here are some more facts to convince you:
- Satisfied employees are five (5) times more likely to stay with their company.
- Happy employees perform 1.5 times better. They are more accurate and have better analytical capabilities.
- Happy employees are more creative and provide better customer service.
- Happy employees are healthier, thus lowering absenteeism and tardiness rates.
- High employee engagement results in higher productivity and an increase in customer satisfaction.
- Low employee engagement results to low employee morale and high employee turnover.
Providing benefits and incentives to your employees contribute to their general happiness and professional satisfaction, thereby helping your organization achieve success.
Below, we’ve outlined how to make your employees happy and performing at their best.
1. Prioritize Work-Life Balance
91% of Filipino employees place high regard on work-life balance. It’s important for employers to implement a strategy and program to help employees achieve a healthy work-life balance.
Considering work from home arrangements will increase employee satisfaction as this give employees flexibility to work while avoiding traffic and lost time traveling to/form the office.
2. Relevant Employee Leaves
Getting time off from work is an important factor in achieving work-life balance, which is why most employers provide leave allowances.
Consider flexible leaves that is tied to performance and not just tenure. For example, employees can get a half-day leave if all his/her monthly goals for the quarter are met.
Flexible working options are on the rise in the Philippines to address the traffic crisis in the metro. The House of Representatives just approved House Bill 6152 on August 27, 2017, which will allow employees to work four days a week at 12 hours a day. This compressed work week policy aims "to promote business competitiveness, work efficiency and labor productivity."
Technological advancements and connectivity improvement in the country now allows employees to maintain productivity even outside of the office. To improve your staff’s work-life balance, consider implementing flexible working hours, work-from-home policies, or remote working options.
4. Invest in a Recognition and Incentive Program
Recognition and Rewards
A benefit strategy such as a rewards and recognition program will help improve employee satisfaction and drive employee performance. However, a Gallup study shows that most employees cite lack of recognition as one of their top concerns. This contributes to employee dissatisfaction and may even prompt employees to look for opportunities elsewhere.
A rewards and recognition program will establish a solid work criteria and performance, giving your employees proper guidance and motivation in their work. It also ensures alignment of employee goals with your company’s mission and vision. Furthermore, rewards and recognition cultivates a culture of gratitude and feedback in the company.
Incentives are a great way to motivate employees and push them to work harder and perform better. An incentive program will also show your employees that you appreciate their hard work, thereby improving company culture and employee satisfaction. Creating a culture of gratitude provides employees a reason to strive for success.
5. Encourage Professional Growth and Development
Training and development opportunities in the workplace drive employee engagement. According to recent studies, 76% of employees are looking for career growth, and 40% of employees with poor training and development programs leave their jobs within their first year in the company.
By investing in employee training and development resources, you’re helping employees become more skillful in their jobs, which leads to better work performance. Employees will also feel that their company realizes their worth, while trust and loyalty are fostered.
6. Make employees feel part of the team.
Workplace loneliness can be an issue for employees, and may affect their daily productivity. Extracurricular company events and outings can address this. These events are important in building teamwork and camaraderie among employees, and should not be taken for granted.
Not only does it encourage professional growth, but team building events can also improve employee work-life balance. Don’t underestimate the power of play. You’ll be surprised how employees become better team players after a company outing.
Hosting Team Building Events and Company Outings can be helpful to make new employees feel part of the company and build relationships with existing employees.
All these suggestions above can contribute to making your employees happy and increase their satisfaction. Furthermore, I would suggest to make these suggestions become a permanent part of your workplace to help improve your company culture for the longer term.
Company culture says a lot about your organization. It reflects the overall goals, mission, and vision of the company. A positive company culture boosts productivity, team morale, employee engagement, and employee satisfaction.