Employee Satisfaction

In a tight labor market, employers are often forced to make considerable concessions to retain employees. The average company spends thousands of dollars on training and development of workers, and this money goes to waste when employee turnover is high. In previous decades, the employer who offered the biggest salary or the corner office was the one who attracted the best and the brightest. Today, workers are more concerned with their quality of life than the size of their paychecks. Smart companies respond to this psychological need, as detailed in the article "When Money Isn't Enough" by Kerry Dolan.

One of the smart companies that is fulfilling employee needs is the Illinois Trade Association. This company makes it its business to know its employees' personal priorities and interests. For example, a survey was conducted about what kinds of health care employees preferred. Illinois Trade discovered that many of its employees wanted health care remedies that were not covered by traditional medical and insurance policies. In response to this desire, the company itself now pays for alternative medical care (e.g., chiropractic treatment and herbal therapy) for the employees who want them. The company even offers its employees a free massage on company time once a month. Illinois Trade also gets to know its employees' outside talents so that these talents can be matched with in-house opportunities that arise. The company's attention to their employees' needs has r

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eal tough to change back to a job where I had to leave Pixel [her dog] at home" (Dolan, 1996, p. 166). Another example of a convenience benefit is offered by PepsiCo, which maintains on-site dry cleaning drop-off for its employees. AT&T allows thousands of its employees to telecommute (work at home from their computers) at least part of the week. Andersen Consulting offers an employee concierge. When an employee needs someone to be at home to await a delivery or repair service, for example, the concierge fulfills this function. Northern Telecom set up a gym at one of its plants. At Hewlett-Packard, employees provide input into how their work environment is designed. Employers now realize that helping employees reduce stress and conflict in their lives enhances their performance and commitment to work. One of the reasons companies are going all out to attract and retain the best employees is demographics. American society is aging at an alarming rate. Within 30 years, one-fourth of the population will be over 60 (Dolan, 1996, p. 166). At the same time that America is "graying," the demand for high-skilled workers is exceeding supply. Companies are faced with satisfying and retaining employees in the face of intense com

Category: Business - E