While a job is a way to earn a livelihood, it isn’t necessarily the means to an end. Of all things, salaries and paychecks are one of the main reasons for employees to pursue a career. 💵 However, there are many other factors that determine the quality of their performance or their reasons to stay in a job.
In this sense, job satisfaction could be considered one of the prime factors that organizations need to focus on. 🔍 How secure or satisfied employees feel in their day-to-day routine has a lasting impact on the performance of the company – thus making job satisfaction the fuel for employee engagement.
Let’s understand the benefits of job satisfaction for organizations. ✅
😄 What Is Employee Satisfaction?
Passion can make mountains move. ⛰️ In the case of the workplace, the collective drive amongst employees can enable organizations to prosper and smash those goals. This is what makes employee satisfaction an important factor for companies.
In other words, you can say that employee satisfaction is an intangible yet powerful tool that determines the success of a company. 📈 It is the level of contentment that your employees feel at the end of the day.
Further, employee satisfaction goes beyond the paycheck. It is rooted deeper in the psychology of your team members and how connected they feel to the work environment and their colleagues. 🧠
The deeper the sense of belonging that employees have at work, the higher the job satisfaction they feel. This is also influenced by the degree to which employers meet and take care of the needs and desires of employees. 🏥
Let’s understand the types and advantages of job satisfaction in detail.
🔢 How Many Types Of Job Satisfaction Are There?
While it is understood what job satisfaction means, measuring it isn’t always easy. The term is a culmination of one’s career components that make them feel valued and have a sense of purpose each day. 🌇
To understand this further, job satisfaction can be broken down into two main types i.e., intrinsic job satisfaction and extrinsic job satisfaction. Here are the key differences between the two:
Intrinsic job satisfaction - Intrinsic job satisfaction is when the employee is happy with the type of work that they are doing. This happens when his or her skills align with the KRAs and thereby enable him to feel fulfilled and happy at work. 😁
Extrinsic job satisfaction - Extrinsic job satisfaction is when employees derive joy or contentment from external factors at the office. This could include the type of perks they have access to, their bond with other employees, the opportunities for career progression that they receive, etc. 🪴
Let’s understand how employers can drive intrinsic and extrinsic job satisfaction and what are the benefits of it.
🔝 Top Benefits Of Job Satisfaction For Any Organization
Companies can achieve intrinsic job satisfaction by hiring the right candidates for the job and by giving employees the opportunity to utilize their skills to the fullest. 🖥️
Extrinsic job satisfaction, on the other hand, can be achieved by offering employees a positive workspace, and benefits at work such as remote working, health insurance, etc. 🏥
It is ideal for organizations to target both intrinsic and extrinsic job satisfaction to ensure that employees are satisfied with their job in all aspects which is so reflected in their performance. 🎯
By doing so, employees can enjoy several advantages such as better employee retention, higher customer satisfaction, and more. However, focusing too much on employee satisfaction can be derailing too.
Let’s dive into the advantages and disadvantages of employee satisfaction below:
A. ➕ Advantages of employee satisfaction:
While there are several advantages of job satisfaction, we’ve listed the key ones here.
1. 📉 Lower employee turnover
Employee satisfaction can lead to lesser absenteeism rates. It can also cause lower employee turnover since satisfied employees are bound to stay longer in their jobs.
2. ⬆️ Improvement in productivity
Team members who are happier in their jobs will perform with better focus and zeal. This will lead to improved productivity and enable companies to enjoy the benefits that come with it. 🎯
LET’S HAVE FUN: 15 Fun Employee Engagement Quiz Ideas To Boost Productivity
3. 💹 Better revenues
Satisfied employees will perform better at work. And a collectively better performance will enable companies to increase profits and earn better revenues in the long term.
4. 🆙 Higher customer satisfaction
By providing competitive pay and benefits and a positive work atmosphere, companies can increase job satisfaction. When employees feel happy at work, they will also serve clients better, and in turn, facilitate higher customer satisfaction. 👌
5. 🎯 Enhance company reputation
When companies look after the needs of employees, they create an environment of belonging and trust for them. This further encourages employees to perform better and spread the good word about the company. 🗣️
B. ➖ Disadvantages of employee satisfaction
While focusing on the desires of your teammates leads to job satisfaction, it could come with its own downfalls if not done right.
1. 📏 Stagnancy in performance
Job satisfaction can lead to higher performance. But once the employees feel contentment, they could soon turn it into complacency. This could translate into a dip in their performance and thereby affect overall productivity. 👇
2. 🚫 No place for new talent
New team members bring with their zeal and new energy. With job satisfaction, older employees may not quit, and a secure workforce could therefore mean that there is no place to recruit new talent.
3. ⏹️ Blurring of boundaries
Job satisfaction requires employers to step up and fulfill employee demands. This could sometimes lead to pushing the envelope too far and creating an employee mindset wherein demands turn into domination and your team members start to take your goodness for granted. ⛔
⭐ Achieve Greater Job Satisfaction And Employee Health With Loop
While the employee’s job satisfaction is important, promoting employees to go overboard with demands is not the right way out. The bottom line is to understand the importance of striking a balance and building a healthy and happy environment at work. 👍
To ensure that employees don’t complain of job dissatisfaction, we at Loop, have created group insurance plans that are packed with employee-oriented benefits. In addition to pre-and post-hospitalization coverage, you can also enjoy 24/7 doctor consults and complimentary wellness sessions among several other benefits. 🩺
Sign up for complete care and comprehensive health benefits for everyone on your team. 💪