Are Your Employees as Loyal as You Think?
If you’re the boss at a small business you need to read this or risk losing your employees. “The 9th Annual Study of Employee Benefits,” conducted by MetLife, surveyed 1,508 benefit decision makers at small businesses and 1,412 small business employees and found some astounding facts. It turns out many employers are clueless about their employees’ loyalty.
The study found that 54% of small business owners believe that their workers have a strong sense of loyalty. A lot of them were wrong. A mere 44% of employees at small businesses feel a sense of loyalty toward their company (that number has dropped from 62% is 2008.) Some may find it even more shocking that 34% of small business employees interviewed admit they want to work for another company.
Because the majority of small business owners are unaware of their employees’ dissatisfaction, most bosses are not focused on keeping workers happy. Only 22% of small business owners name retaining employees as their number one concern.
According the study there are two major factors in employee satisfaction: benefits and job security. 72% of employees who are satisfied with their benefits have a sense of loyalty toward their company, but only half of workers polled were satisfied with current benefits. Employees are also worried about losing their job. Although 40% feel like they have been working extra hard this past year, 25% are more worried about job security than they were 12 months ago.
There is a lot of uncertainty in the work place right now. Everyone is nervous about changing healthcare and the rough economy. As a small business owner be aware of your employees’ concerns and discontent. Employee satisfaction can make a world of difference in the productivity and atmosphere in your office.