Tips for Women Entrepreneurs: Top Ways to Improve Employee Benefits Program

Improve Employee Benefits Program_Chispa Magazine
It’s an old adage, but a true one, “A happy employee is indeed, a productive employee.” As an employer, you can help increase employee satisfaction.

Women entrepreneurs have a lot to keep in mind these days. One sad but true reality nowadays is that there are a growing number of people who are becoming unhappy with their jobs. This decreasing satisfaction can have monumental consequences. It affects the employees’ engagement and job performance, and ultimately, their productivity. To add to that, creativity, mentoring, motivation, and risk-taking are severely curtailed. The bottom line: with employees’ dissatisfaction, this endangers the employer’s position in their industry.

An employer should have employee satisfaction as a major goal. Keys to employee satisfaction?

  • Time
  • Money
  • Energy: On programs, processes, and factors

According to a 2009 survey (by the Society for Human Resource Management, aka SHRM),there are 24 factors to employee satisfaction. Listed below are the top ten.

Top 10 Factors to Employee Satisfaction 

  1. Job security
  2. Employee Benefits Program—notably Health Care; retirement benefits are becoming more and more important, especially based on the employee’s age
  3. Salary/Compensation
  4. Opportunities to use skills and abilities
  5. A safe work environment
  6. Employee/Supervisor relationship
  7. Management recognition of employee’s performance
  8. Communication between employees and senior management
  9. Employee autonomy in their jobs
  10. The work itself

The above 10 represents an employee’s viewpoint. However, and unsurprisingly, Human Resources professionals have a similar, but not entirely exacting “take” on what connotes a happy employee, according to humanresources.about.com.

Top 10 Factors According to Human Resources Professionals

  1. Job Security
  2. Relationship with immediate supervisor
  3. Benefits
  4. Communication between employees and senior management
  5. Opportunities to use skills and abilities
  6. Management recognition of employee’s performance
  7. Job-specific training
  8. Feeling safe
  9. Compensation/Pay
  10. Overall corporate culture

Business News Daily quotes an employer who says, “Bonuses, company perks and paid days off aren’t enough to keep employees happy. Showing an employee how much the company appreciates, respects, and values them on a personal level is much more gratifying.”

Transparency
A recent employee survey revealed that money and promotions are extremely important, but the number one contributor to employee happiness is transparency. Be clear and communicate frequently in regards to company happenings, specifics on the direction of the employee and departments.

Office Space
Create an inviting space in the office that facilitates comfortable and collaborative conversation amongst employees during break time. Provide free snacks and beverages. It’s a small way to show how valued employees are.

Recognize and Reward
Employees appreciate recognition from their employers, but some employers mistakenly assume that this means certificates or trophies related to certain achievements, but employees truly appreciate coupons for dinner, tickets to a show, getting off of work early, or even, getting a day off.

Beyond Basics
While most employers have cut benefits, due to cost-cutting, health benefits are extremely important to employees. Employers can add another level of benefit as incentive to the employee. Consider an extra level of life insurance or disability insurance as a protection of the employee’s income. Ancillary benefits like wellness, dental and optical further help build employee satisfaction, because the employee will gain confidence in their employer and how much their employer cares for them and their family.

Fewer Emails and Meetings
Employees become fatigued with a barrage of emails and tedious, irrelevant meetings. Too many meetings and too many emails not only waste time, but they actual hinder productivity. Jive’s Sydney Sloan suggests, “Replace some of those emails and meetings with technology that helps them save time and collaborate more efficiently.”

Facilitate Conversation
Demonstrate an interest in each employee. This is certainly an extra step, and not part of the employee contract, but it is one that can be very fruitful to the employer. A one-on-one private conversation between a boss and an employee has bearing on the employee’s satisfaction. Take an employee or a small group to lunch, or even dinner. A bond between employee and employer can open up the doors of communication, and can bring any problems to a halt. Also—and this is critical—during these potential bonding sessions, an employer should seek out an employees input and opinion. There will be other ways an employer can arrange for an employee to offer input, but they are likely to be more candid in a more casual setting.

Photo by Jadon Barnes

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Mia Guerra

Mia Guerra

Executive Editor at Chispa Magazine
Executive Editor at Chispa Magazine, Mia Guerra is a writer at heart. Regardless the topic, she loves to investigate, encourage, and ruminate on topics that can make us better people. Aiming to live a Proverbs 31 life, Mia is ecstatic to be following her calling with Chispa. At home she is her husband's sidekick and together they are raising a God-fearing family in Atlanta.

Mia Guerra

Executive Editor at Chispa Magazine, Mia Guerra is a writer at heart. Regardless the topic, she loves to investigate, encourage, and ruminate on topics that can make us better people. Aiming to live a Proverbs 31 life, Mia is ecstatic to be following her calling with Chispa. At home she is her husband's sidekick and together they are raising a God-fearing family in Atlanta.