With millennials and Gen Z filling up your workspace fast, employee satisfaction will decide your business growth in the future. Positive benefits like increased work efficiency and retention also make these metrics incontestable in today’s era. To find out where your company stands in terms of employee satisfaction, Dave Foxall shares 5 metrics in this article at HRMS World.
Understanding Employee Satisfaction
Employees are foundational blocks of any company, so their job satisfaction matters a lot. While on one hand, it reduces turnover, on the other it improves productivity. Following are the 5 metrics to measure employee satisfaction in your company:
Absenteeism: To accelerate the growth of your business, employees must come to work regularly. Surely you must grant them the usual sick leaves, holidays, and vacations. The concern begins when they leave the team in limbo by choosing sports events over a work deadline. Measure the number of leaves each employee has taken in a quarter.
Aligned with the Corporate Culture: When you interview a candidate, you review if the individual will fit in with the existing corporate culture. Employee satisfaction is based on the work environment you give them. Find out if their principles collide against or resonate with the company culture.
Turnover Rate: While some will eventually leave the company, you do not want this rate to go any higher than expected. Increase employee satisfaction to lower this metric’s number. Identify the number of employees that left this quarter.
Employee Recommendation: To find out about your employee satisfaction, know how many are bringing in references. The happier they are, the more friends they would encourage to join the company. Ask around to know how many would be willing to refer their friends.
Individual Growth: Employees prefer companies that invest in their personal training and growth. It is sensible to learn new skills in a known environment than hunting for companies that offer the same. To understand employee satisfaction in this segment, ask them to rate development opportunities.
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