With few companies boosting pay, it appears employees are looking for other things to keep them happy.
Even though pay is still a huge contributor to employees’ job satisfaction, it’s not the most important.
In fact, compensation/pay fell to fifth place among the factors employees ranked as contributing most to job satisfaction in the Society for Human Resources Management’s 2010 Employee Job Satisfaction survey.
The top five?
- Job security (63%)
- Benefits (60%)
- Opportunities to use skills and abilities (56%)
- The work itself (54%), and
- Pay/compensation (53%).
Open up the lines of communication
For those companies who aren’t facing reductions in force or have already experienced one — and have no further reductions in sight — this survey reveals a prime opportunity to boost job satisfaction and morale.
Now’s the time to tell employees how important their role is in helping the company meet its goals. This’ll give workers some reassurance that they’re part of the company’s plans for the future.
Also, by communicating with employees directly about the state of the economy and its effect on your company you can squash rumors that might be hurting morale.