More and more, companies are realizing the importance of having happy employees, people who are engaged with their jobs, who like where they work and what they are doing. However, there are also many companies who neglect this important part of their business.
Different studies showing varying results, but they all agree on one thing – a large portion of today’s workforce is not happy with their jobs. One study put the number of satisfied workers at only 25 percent. All of these unhappy workers are costing businesses a lot in lost productivity and turnover. So, why don’t many companies do more about engagement? There are three main reasons.
1. They don’t want to spend the money
Some companies simply do not want to spend the money for things like employee training and development programs, which are important components of an engaged workforce. It is a very shortsighted view since research has shown that workers who are not engaged are not as productive or creative as their more satisfied counterparts.
Workers not happy with their jobs also do not stay very long, which also costs companies a lot of money because they have to conduct a hiring process for new employees.
2. They think money will solve the problem
There is no question that money is an important factor in job satisfaction, and companies need to pay competitive salaries. But it is not the only factor. It is more effective as a motivator on short-term projects rather than long-term employment.
But even money cannot by itself make a happy employee if the company culture is not one that fosters engagement. If there is poor management, a lack of communication and feedback, no opportunity for career growth, money will not solve these problems.
3. Inadequate company leadership
Company morale may be poor because of poor leadership. It could simply be that managers lack the necessary skills and knowledge needed to foster employee engagement. They manage in a top down way, simply issuing commands, with little regard for employee feedback. They manage like this mainly because they know no other way.
As the competition for top talent heats up, companies with engagement problems will inevitably have trouble competing with their more progressive peers. To retain the best people, companies need to pay attention to worker morale.