According to economists, a company works just like a juice machine. In which, the ingredients consisting people, software and buildings are combined together and transformed into useful product. In this way, employees are a cruical input in the production process.
In the world today, we depend more heavily on sophiscated services other than agriculture with manual labor. Therefore, techonology and human resources are more significant than ever as valubal assests to lead to innovation and long term growth.
Business performance is driven by happy staff
To measure the satisfaction of the workforce, we can refer to the Glassdoor company ratings. Accroding to the latest report from Faro Recruitment Vietnam, there is a strong link between the satisfaction level of staff (shown by higher ratings on Glassdoor) with their financial performance. To be specific, the sudy shows that by hvaing a 1-star higher Glassdoor rating can result in a 1 percent higher of return on company assets annually. In other words, company which are rated higher by their current staff in terms of satisfaction would be able to generate superior profitability compared to the oness that were rated poorly. Therefore, online reviews of employee are one improtant indicator to foresee the financial results of their business.
In fact, many researches have already confirmed that job satisfaction has more significant effect over the performance of an organzation than organizational performance affects satisfaction in the workplace.
Investing in people
From the research, it is highly suggested that in mordern organizations, employees are an important resource – not just a inevitable cost to maintain production. As a result, companies which have human- centered view would see a significant positive relationship between the earned profit and its staff’s satisfaction.
Napoleon, one of the greatest generals of all time already realised the importance of staff satisfaction by highlighting factors deciding the effectiveness of the army including its size, training, morale and experience. Among all these factors, morale is worth more than the sum of all remaing factors.
Promoting personalization and creativity
As a SME, your business does not have to copycat giant tech organisations like Facebook or Google, but it should allow for persoanlisation and creativity in the workplace. It can start by some simple things such as allowing employees to arrange and decorate the office as they wish. HR department should schedule time for team building practices and brainstorming sessions. It is crucial that business leaders open up the opportunities for staff to express themselves. It is one of the short cut towards being satisfied in a job.
Show respects to your staff
Above all these factors, do keep in mind that everybody wants to be heard and respected. Respects cost you zero dollar; however, it will bring high regard by employees at all levels in return. You will learn to care for your staff as individuals, or even like family members rather than hired employees. When your staff feel your caring and respect, they will remain much more content with their positions. As a leader, always keep your expectations high and let your staff understand that you have the confidence in their competence to achieve and exceed them.
To summary, making staff satisfactions a priority is not an easy task. Sometimes you have to forgo some profits to achieve the purpose. However, it will definitely benefit your firm in the long run. A happier staff is a more productive employee, devoting to a more successful organization.