Top Five Benefits of Employee Satisfaction Survey

Transcription

1 TM Top Five Benefits of Employee Satisfaction Survey

2 About Floraison floraison in French means 'flowering'. The name reflects our objective of Accelerating Growth. Floraison India Compliances Private Limited is a Bangalore-based business consulting organization. As a company which provides integrated consulting services, we partner our clients from the stage of inception to assist them in successfully commencing their operations and further hand-hold them to run their company efficiently. At Floraison, we strive to cultivate strong relationships with our clients by providing them with solutions, which cater to their precise requirements. Customizability is therefore the essence of all the services provided by us. We believe true success is not just fulfilling our clients' requirements, but exceeding their expectations. And, to be successful, we work as an cohesive team all the way, using the best of tools and methodologies. Floraison is a member of:» Confederation of India Industry» Bangalore Chamber of Industry and Commerce» Indo-German Chamber of Commerce For more information on the company, Please visit us at Strategic Consulting Accounting & Payroll Services Compliances Management Assurance Services HR Services India Entry Strategy New Age Entrepreneur Support Research and Analysis Training and Orientation Accounting and Payroll Implementation Compensation Structuring Accounting and Payroll Support Accounting and Registrations and Approvals Compliances Set up and Automation Compliances Support Compliance Resourcing Legal Services Financial Audits and Due Diligence HR Audits and Due Diligence Compliances Audits and Due Diligence HR Policy Set up Employer Branding Satisfaction Surveys HR Support HR Resourcing Recruitment Process Outsourcing Human Capital Consulting Disclaimer This publication is a product of Floraison India Compliances Private Limited. The items contained herein are provided for general information purposes only. Floraison strives to maintain up-to-date information from its own and other reliable sources; however, no responsibility is accepted for any errors and/or omissions or results of any actions based upon this information, without consulting Floraison first. Though all efforts have been made to ensure the accuracy of the content, the same should not be construed as a statement of law or used for any legal purposes. The information is for reference purposes only and should not be dealt with as advice.

3 The trouble with most of us is that we would rather be ruined by praise than saved by criticism. Norman Vincent Peale

4 In This Issue Introduction Page 1 Benefits Of The Survey Page 2 Top Five Benefits Of The Survey Page 4

5 Page 1 Introduction he saying is true not only for individuals but also for organizations. Most organizations fail to see what is on their employees' minds and fail to recognize employees as the internal as well as external Tbrand ambassadors of the Company. Employees are the assets and pillars of success of an organization. Just as employers have the right to appreciate or criticize an employee and his performance, so do the employees. It is extremely important for an employer to earn the appreciation of the employees and this will not happen until and unless each employee is more than satisfied. Studies have shown a direct correlation between employees' perceptions of their organization's culture and ability to achieve successful outcomes that include Increased Productivity Lower Employee Turnover Higher Profitability To ensure that they know what exactly is the concern of their employees and their perception regarding the innumerable factors concerning the work place, organizations must feel the pulse of their employees periodically. And the best tool to 'feel the pulse' of the employees could be the periodic employee surveys. Such surveys not only provide the organization with an irreplaceable forum to solicit employee feedback, but can also prove to be morale-boosting for those set of employees who may not have the opportunities to express their views.

6 Page 2 Benefits Of The Survey n employee satisfaction survey can help an organization review and further leverage on its strengths and Asimultaneously curtail its weaknesses, before they turn into crisis. In short, they help the organization dwell on the positive factors as well as the negative factors thus providing a 360* insight into its organizational health and factors affecting its sustainability, over a period of time. The Positives Satisfaction surveys can prove to be the best method of internal branding, since they connect the organization to one of its most valuable assets - its employees. These provide a platform for them to discuss and express their satisfaction levels regarding their work environment and co-workers, the responsibilities they shoulder, their influence on company matters, the value they add and gain from the company, their job satisfaction, etc. The Negatives Apart from the positive points that one could tap with these surveys, it could also dredge open the 'grey areas' of an organization. Using the survey as a tool, the employees can also talk about the 'symptoms and sicknesses' of the work place. Survey instruments, can act as a tool for proper diagnosis, which will help To recognize whether a problem exists or not and then analyze the symptoms and identify the root causes. Generally, in an organisation, two types of problems are seen - The problem amongst employees These problems revolve around a specific group of employees who fail to understand the goals and vision of the organization or are not able to communicate properly with the management. These problems revolve around the organization structure, compensation, management style, performance appraisal, employee selection process, communication process Problems in the organization's system Hence, conducting employee satisfaction surveys could be looked at as an investment which paves way for employees to understand and connect their thoughts to company's good health.

7 Page 3 Fig 1: Employee satisfaction survey: Knowing your employees and keeping them satisfied plays a crucial role in their productivity Results Less Dissatisfaction among employees Low attrition in the organization High productivity and high morale among employees Increased profit for the organization Fig 1 clearly indicates that less dissatisfied employees lead to low attrition, which in turn could result in high productivity and generate high morale among employees. Such an environment could also foster a healthy and positive feeling even to the new recruits in the organization. This will ultimately result in better chances of retention, customer satisfaction and increased profit.

8 Page 4 Top Five Benefits Of The Survey Accurate Perspective The organization can get a clear perspective by knowing the critical 4C s of employees Commitment Culture 4C's Compensation Communication The organization can attain a clearer perspective on how the employees prioritize and rank the value of topics such as corporate benefits, versus compensation, versus development. And through thorough analysis of survey results, the organization can identify & control its employee turnover ratio when compared to their competitors. Retention Strategy Keeping the employees satisfied does seem a bit difficult to some organizations, but it isn't rocket science. Providing a healthy working environment, regular wages and benefits are not enough. Knowing the employees' opinion is equally important. Feedback, in this case, can be an effective tool. This will help in setting the standards, enforcing the standards, creating a career path that leads to success, listening to the wants and needs of the organization's internal customers, and delivering what was promised. Besides it also helps to align compensation and benefit programs more effectively to meet the needs of both employees and management.

9 Page 5 Increased Employee Loyalty Satisfaction survey provides an organization with honest answers to questions like: 1. Is the organization a good place to work? 2. What do the employees say about work away from the job? 3. Do they brag about it to their friends or is their spouse or significant other always telling them that they need to look for another job? 4. What is the turnover ratio? The answers and opinions can be quantified to analyze employee attitudes and opinions, leading to identification of problem areas and can prove to be an extremely vital tool to develop solutions that create a supportive work e environment and foster a motivated, loyal work force. Training Needs Assessment And Change In Policies Employee satisfaction surveys help to develop individual goals and career potential. With more insight into employee opinions, the management can establish effective professional development initiatives. Further, satisfaction surveys also establish the base to measure progress and establish benchmark data to evaluate future improvements. The survey may also lead to identify policies, procedures, and management practices which could result in higher employee satisfaction. Improved Customer Service Motivated employees will perform to gain more business and will much concentrate on efficient customer service and will also take care of their satisfaction. Employee satisfaction survey ultimately creates customer satisfaction survey Constructive corporate and brand Image Greater customer s satisfaction & loyalty Enhanced organizational performance Favorable employee s opinions, attitude & beliefs

10 Page 6 Conclusion To conclude, employee satisfaction can have a dramatic effect on employees' ability to deliver excellent service, improve customer satisfaction and ultimately increase company profitability. By conducting regular employee feedback surveys, one can gauge and improve upon the attitudes of the employees and the health of business.

11 Credits: Anuradha B Our Other Publications: Inducting a trainee into your organisation Inducting a new joinee into your organisation Employee Engagement Employer Branding - the concept Ways to enhance employee retention HR Support Floraison HR Floraison Internal Corporate Communication Group Dynamics Employee Separation Formalities Withholding Tax - an Introduction Introduction to CARO VAT in Karnataka 'Export of Services' Rules under Service Tax Profession Tax in Karnataka Fact File on Karnataka and Bangalore Everything about a liaison office in india Salaried Employee Vs Consultant A & P New Age Entrepreneurship And more... Floraison India Compliances Pvt. Ltd., #185/7, 2nd Floor, "Chandra Plaza", 25th Cross, 8th F Main Road, Jayanagar 3rd Block Bangalore , India Tel: / 58 / 59 Fax: inflo@floraison.in TM