26 June 2008
Employee satisfaction levels rise, despite job uncertainty
Feeling appreciated and supported is no longer necessary – a job is enough.
Randstad's 9th annual World of Work survey shares findings that may come as a surprise to many; employee satisfaction levels are increasing, and are at their highest since 2004.
How can this be possible in the current weak economy, where there's little job security and the workplace power struggle is strongly in favor of the employer?
Change in employee attitude
The survey shows that employee perceptions are shifting. Fewer employees think it's a good time to change jobs in search of a higher salary, and many think now's a good time to take on more work. Four major aspects of employee satisfaction have risen sharply in the past 4 years:
- Number of hours worked (up 12 points).
- Opportunities to learn new things (up 13 points).
- Amount of work expected to handle (up 8 points).
- Level of compensation (up 8 points).
Employees are reconsidering their priorities, their performance and how much they should really expect from employers.
Until very recently, employees – particularly those from generations X and Y – had the freedom and the confidence to frequently change jobs, demand more benefits and take risks.
Safe in the knowledge that they were living and working in a strong economy, where employers fought to retain talent as a bigger and better job was just a mouse click away, these employees expected only the best from their employer.
Rethinking priorities
But the survey suggests that since the job market has taken a turn for the worse and layoffs are becoming everyday occurrences, employees are reconsidering their priorities, their performance and how much they should really expect from employers.
Rather than looking for their next job, they're fiercely holding onto their existing position. And while monetary benefits are probably more desired than ever, asking for a pay increase is a no-no.
But is this true satisfaction?
With greater appreciation and lower expectations from employees, it's much easier for companies to keep their people satisfied – or at least think that they're satisfied.
Just because employees don't ask for a pay rise, or flexible working hours or more paid time off, and generally behaving as their employers wish them to, it doesn't necessarily indicate satisfaction – insecurity is a big contributor to unhappiness and disengagement.
But if indeed employees are satisfied, many companies have recognized that satisfaction alone isn't enough – it's engagement that will lead to better business results.
Soft benefits are less important
Randstad's survey has found that many "soft", intangible benefits that employers have been encouraged to deliver, such as appreciation, empowerment and a positive culture, are actually less important to both employees and employers than they were 2 years ago. (See sidebox, right.)
Strike a balance
Randstad suggests that despite high retention figures, employers shouldn't get too comfortable, and should adopt "employership" practices into the organizational environment.
Striking a balance between employer and employee satisfaction is essential for long-term business success.
Practice employership
As budgets tighten, companies aren't in a position to deliver monetary benefits, so they should use this opportunity to focus on some of the soft benefits mentioned above.
Employership is recession-proof and employers must continuously encourage their employees to provide input on key business issues.
Eric Buntin, managing director, marketing and operations for Randstad USA says: "Employership is recession-proof and employers must continuously encourage their employees to provide input on key business issues, think innovatively and leverage their strengths to help create an organization where employees want to work and achieve company goals."
Have your say
What do you make of these findings? Have satisfaction levels really increased or are employees now just too nervous to admit they're anything other than satisfied?
What can communicators do to help managers get a true insight into how employees are feeling? Does leadership need to look deeper at behaviors rather than survey results?
Share your thoughts on these issues with other comms practitioners by joining the Internal Comms Hub members' group on the Communicators' Network.
Other recommendations:
How to raise employee morale on a budget
The role of communicators is broadening while their budgets shrink
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