It’s the time of year for appreciation and thoughtful reflections—an opportune moment for employers to delve into the concept of mutual satisfaction. This is a state where both employers and employees find fulfillment and value in their working relationship, sharing aligned needs and goals within a positive workplace dynamic. Mutual satisfaction isn’t just a feel-good sentiment; it’s directly linked to heightened workforce productivity and increased profitability—two elements close to every employer’s heart.
This month we’re kicking off a three-part series exploring the depths of mutual satisfaction. Next, look for “Employees Value Actions Over Family Labels,” and stay tuned for, “What Employers Should Focus on—Building an Environment of Mutual Satisfaction.”
A healthy workplace helps make a healthy business.
A healthy workplace is the cornerstone of a thriving business. When workers feel valued, safe, and healthy, their productivity, job satisfaction, and commitment soar. The ripple effect extends to reduced rates of employee turnover and absenteeism, both of which have an impact on the bottom line.
According to Gallup, businesses with engaged workers enjoyed profits 23% higher than those with dissatisfied employees. Conversely, the global cost of lost productivity due to disengagement is a staggering $8.8 trillion, equivalent to 9% of the world’s GDP. What’s more, the unengaged are in the majority: Overall, nearly 6 out of 10 express disengagement, with 18% actively disengaged.
That’s where mutual satisfaction comes in.
Mutual satisfaction is a win-win for both employees and employers. For employees, the journey begins with a simple yet powerful phrase: “Thank you.” Research from Reward Gateway revealed that 63% of workers said they’d rather work for an organization where employees were regularly praised for doing good work than for an organization that paid 10% more without the recognition.
The payoff for employers? When employees know they’ll be recognized for their work by management, they’re nearly three times more likely to be highly engaged.
So, how can organizations express gratitude effectively? Turn appreciation into celebration. Organize regular activities and events to praise and celebrate team successes, achievements, and milestones. At the same time, encourage employees to recognize their colleagues’ efforts and successes. That can range from simply taking a moment in team meetings to offer a shout-out to a more formal program with awards or other kinds of recognition.
Mutual satisfaction takes mutual effort.
Achieving mutual satisfaction takes effort from both sides. At Domus, we specialize in helping organizations engage employees and cultivate an environment of mutual satisfaction. We’ve done it for the likes of Epson, Merck, and Ralph Lauren. Let us guide your organization toward a workplace where mutual satisfaction thrives. Reach out to Lisa Samara for a conversation.