Understanding what drives employees’ sense of value will help maximize retention, motivation, and productivity. Whether that be:
- Pride and recognition of a job well done.
- Benefits packages that help keep the focus at work.
- Competitive and fair salaries.
- Creation of comfortable workplace environments and relationships.
It has never been more important to understand the needs of the people that work for you and how they affect your business in both the long and short terms.
Money, money, money! Topping the list of what employees value the most is of course how much they are getting paid. But there is more to it than a simple dollar amount. It seems that it is not necessarily how much employees are being paid that matters. It is getting paid a fair wage for the level of work expected of their position that matters most.
Employees who see their wage as equal to the competition are less likely to jump ship and more likely to feel valued by the company.
Put simply, if you want to tap into your employees’ key values, pay them equally and treat them equitably for the work they do.
Growth Opportunities and Benefits
Most employees consider having professional development and advancement opportunities as their most considered factor (outside of salary) for feeling valued by their employers. Some other sought-after benefits include:
- Health insurance/Healthcare.
- Paid holiday.
- Flexible scheduling.
- Shorter working weeks.
- Free food, nursery, and gym facilities.
Companies that have a high rate of offering positions internally, before seeking external candidates, see their employees last 41% longer in the same jobs. Proving that if you give people room to grow in your organization, they will.
Recognition and Standards
More focus is being applied to the employee experience, as employers recognize that happy staff have a higher rate of productivity and far better retention rates. A little ‘thank you’ can go a long way. 70% of employees believe that their motivation and energy at work would improve if their supervisors recognized and thanked them for it.
Almost 40% of employees consider high moral and ethical standards to be one of their core workplace values. While money is important, how it is earned and at what cost is becoming a greater indicator of employee motivation, satisfaction, and retention.
Go out of your way to recognize the work your employees do for you, and they will be far more likely to continue giving you their best. But this too, isn’t a one-way street. Managers and supervisors need to hear from the ground up that they too are doing a good job. Gratitude in all directions builds trust.
One of the biggest issues affecting employee satisfaction is their relationship with their managers. A staggering 1 in 5 Americans use the word hate to describe their relationship with their supervisor or boss. And around 1 in 4 think that they would be better suited to do the work of their leadership staff.
Effective management is not an easy thing to achieve, mostly because people aren’t used to holding power over others. These relationships are fragile and can be easily broken if management prioritizes being ‘respected’ over being attentive.
Teaching people what to do will always achieve more than telling them. Show your employees that you value their opinions, teach them with humanity, not fear, and don’t take the credit for work they did. This is the way to build lasting relationships and be an effective manager.
We recognize the need to balance a desired salary, with person-specific benefit needs, and individual personality and value traits. Being one of the best providers of general staffing talent recruitment in the country, we understand that employment decisions are values-driven and look forward to connecting you with new opportunities across our nationwide networks. We pride ourselves on connecting the right employer and employee.
Eleanor Estes, CEO Tech Providers, Inc.