Most companies spend a good chunk of their time discussing how to engage and retain their employees. It’s pretty important to keep your workers satisfied. Would it surprise you to find out that a significant percentage of them don’t trust you?
If you’re in management, we highly suggest you take a seat and break out some paper to take notes. American Psychologist’s Association (APA) ran a survey that produced some pretty surprising findings. According to their survey, 25% of Americans don’t trust their employers. If that doesn’t rattle you a bit, think of it this way. It means 1 in 4 of your employees don’t trust you. Taking it a step further, the survey found that only half of those surveyed believe that their employer is being open and up front with them. That’s frightening. But you can take some solace in the fact that 64% believe that their employers are treating them fairly. They just don’t trust you. David Ballard, PsyD, MBA, and head of APA’s Center for Organizational Excellence, had a lot to say on this topic:
“This lack of trust should serve as a wake-up call for employers. Trust plays an important role in the workplace and affects employees’ well-being and job performance. The layoffs, benefit cuts and job insecurity that accompanied the recession put a strain on the employee-employer relationship and people aren’t quick to forget.”
It’s all fine and well to have meetings regarding the expense of sourcing out employees as well as keeping your current workers satisfied. In fact, we here at The Methodology Blog have a lot to say on the topic of keeping employees satisfied as well as high employee retention. It’s good to keep employee satisfaction at the forefront of your company’s goals. Because the APA provided some more surprising numbers.
Although a majority of workers reported being satisfied with their job overall, less than half said that they are satisfied with the growth and development opportunities (49 percent) and employee recognition practices (47 percent) where they work. More than a quarter (27 percent) of U.S. workers said they intend to seek new employment in the next year.
This does not bode well for most companies out there. Losing staff not only hurts your bottom line, but it hurts your company’s presence as well. Don’t think that those employees won’t be talking about how unhappy they were working for you. In fact, they probably already are. So what else could be contributing to this? APA says it’s possible the gender pay gap is a factor. Employed women (42%) were less likely to report that they received fair compensation when compared to employed men (54%), which was found through Harris Poll who surveyed 1,562 workers for almost 2 months. But wait, there’s more!
APA’s survey found that workers who felt appreciated by their employers were more likely to be engaged with their work. These employees reported higher levels of energy, a strong involvement in their work, and were happily absorbed in their duties. On top of that, those workers that felt valuable to their company were much more likely to report high satisfaction (92% versus 29% who don’t feel valued) with their job. They were also more motivated to do their work (91% versus 37%) and would recommend their employer to other job seekers (85% versus 15%.) These happy employees also stated that, not only do they not feel stressed throughout their workday, but APA found that they were more likely to be in good psychological health. Ballard added:
“The emphasis in recent years on employee wellness is a step in the right direction, but the psychological factors are often overlooked,” says Ballard. “It’s clear that an organizational culture that promotes and supports openness, honesty, transparency and trust is key to a healthy, high-performing workplace.”
So how can you zero in on creating an environment where your employees not only trust you, but are happy to come to work? Reach out to one of our organizational productivity consultants for more information!