ENGAGEMENT VS SATISFACTION
We’re all familiar with the concept of employee engagement. If you’re a business owner, it’s a fair bet that you’ve brainstormed how to make your employees feel appreciated and inspired to work harder.
The importance of employee satisfaction also frequently appears in discussions of employment strategy. You’ve likely encountered both concepts in the same context, perhaps used interchangeably.
Though they sound similar and have a good deal of overlap, these terms carry important distinctions with significant implications for your business.
Employee satisfaction encompasses the degree to which an employee’s needs and expectations are fulfilled by their work environment. This can relate to enjoyment of one’s responsibilities, a healthy work-life balance, fair compensation, positive relationships with co-workers and management and an overall experience of security and stability.
In other words, satisfaction is a one-way street; the employee is content to remain in their position, but they do not necessarily:
- Align themselves with the organisation’s mission or values
- Feel loyalty to the organisation
- Identify as a valuable member of the team
- Strive to outperform expectation based on an emotional connection to their work
The key takeaway here is that a satisfied employee is limited in how far they will go to drive operational success. Conversely, there is no ceiling on an engaged employee’s contributions to their workplace.
WHICH IS MORE VALUABLE?
Employee engagement requires profound and personal investment in one’s work and is driven by the following factors:
- Work is challenging and demands diligence
- Output is met with consistent appraisal and recognition
- Opportunities for personal and professional development
- Identification with the goals and principles of the company
- Genuine excitement and enthusiasm for one’s work
An engaged workforce is a core factor in driving positive business outcomes. If an employee lacks investment in their work beyond financial stability or a workplace chat, they are unlikely to produce beyond what is necessary. Elements that are fundamental to organisational success and cost employers significant sums: retention, innovation, team dynamics – are all impacted by employee engagement, or a lack thereof.
A satisfied employee may leave for higher compensation elsewhere yet decline the offer if they feel personally fulfilled and motivated in their role.
So the verdict is clear: employee satisfaction and engagement are both vital to business success, but the latter is far more powerful and reliable in facilitating team synergy, competitive edge, talent retention, and the list goes on…
INTRODUCING THE MIT SOLUTION
At MIT Benefits, we appreciate the time and energy commitment required to build a loyal, driven workforce. We understand that employers are not paying lip service to the concept of employee engagement; more often, they lack the resources to truly connect with and inspire their staff.
When a business cannot foster genuine engagement in the workplace, it misses out on the most consistent driver of growth and innovation.
MIT Benefits provides a range of unique and innovative services that add value to your organisation, all of which are accessible through our integrated employee engagement portal.
HEALTH AND WELLBEING SERVICES:
Your staff and their families gain 24/7 access to UK-based registered GPs and private, confidential helpline support.
Prioritise your staff’s health and well-being to achieve higher employee retention rates, reduced absenteeism, and a more positive and productive work environment.
LIFESTYLE BENEFITS: Your employees can save thousands on their daily expenses through our exclusive discounts!
Investing in the well-being of your employees will increase their workplace engagement and support talent acquisition and retention.
WORKPLACE PENSIONS: We have designed a simple and effective Workplace Pension solution that reduces your administrative burden while ensuring compliance.
Our dedicated valuation platform collates all assets into a single view via our engagement portal, providing you with the benefits of a workforce that appreciates your contribution to their financial security.
BUSINESS PROTECTION: Reduce your administrative burden via expert support with performance reviews, disciplinary matters and dismissals.
Our employment law experts will insulate your business from employee grievances and help to avoid potential difficulties.
PAYROLL CONSULTANCY: Our payroll consultancy services enable you to focus on your day-to-day operations with the assurance that your payroll needs are being attended to expediently and professionally.
Payroll data provides invaluable insight into your business and resource management approach, increasing efficiency and improving your ability to strategise.
WITH MIT, THE BENEFITS ARE ENDLESS
Many employers regard employee satisfaction as the price of admission to a motivated, productive workforce. Our unique service package allows you to enhance satisfaction and engagement simultaneously while protecting your operation and reducing your administrative burden.
We are constantly expanding and refining our employment solutions to safeguard your people and business interests.
Get in touch today to discover how we can transform your business!