It matters how much you pay your employees. These employees aren’t volunteer workers and depend on their paychecks for survival. However, their salary is only one of the factors when it comes down to gauging what they value most.
What do employees value most?
This is a question that I was often asked while writing Mean People Suck. It’s difficult to answer this question because humans are complex and find satisfaction in many things. Kristin Wong’s article on what employees value takes the time to address this question using research from Glassdoor about what makes employees happy.
The Value Spectrum: It’s Not All About the Benjamins
Glassdoor tried to find out what employees value and how these values change with their compensation.
The company used its data and reviewed salary reports from over 600,000. Six factors were measured in the research:
Values and cultures
There are many career opportunities
The balance between work and life
Compensation and benefits
The Shapley Val analysis model was used. Each category can have an impact on employee outlook. Each factor is considered a predictor of employee satisfaction, and the analysis reveals which has the most significant impact.
At 22%, culture, and values topped this list. This means that at least one in five employees must have a positive work culture. This research confirms my belief that a workplace culture should be meaningful.
Employees want a fair salary that allows them to live comfortably. However, workplace satisfaction diminishes as employees are less satisfied with their work.
What does a modern culture look like? Why is it essential for employees to know the company’s values?
It all starts with one word: empathy!
Employee empathy is critical to a culture that attracts and keeps employees. Engaged employees will stay loyal and do their best to ensure they are valued for what they do.
Glassdoor research shows that employees care deeply about the company’s culture. A toxic workplace culture can make it difficult for your best and brightest to stay. It is possible that they will not survive if you increase their salary.
As a brand must have a purpose beyond just making money, many people also want this. Without connection or positive energy in the workplace, even the best employees won’t stay with the company for long.
It may be challenging to find workplace cultures that value empathy.
Our society is experiencing an empathy crisis—this empathy gap results from many factors, including how technology has changed our lives. Although technology has made it easier to be “connected,” the truth is that we are less connected than ever. However, technology is only one of the reasons we feel less connected. Consider how you communicate each day.
While it is easy to communicate with others quickly and easily on Instagram and Snapchat, authentic connections and interactions can be lost. This is also true at work. We rely on IM platforms and email to communicate at work.
However, technology doesn’t need to be a hindrance to empathy. As long as your culture values connection, collaboration, and communication, it won’t be a problem. Technology should be viewed as a tool that can help you improve your business rather than as a means of communication.
Although empathy is not yet a requirement for business success, it’s clear that it can be. Businesses have evolved to focus on customer-centricity rather than product-centricity and have adopted a more empathic approach to customers.
This is also true for employees. Employees will respond positively to a workplace culture that values compassion, concern, care, and empathy. It would help if you strived to be authentic with your customers and infuse this culture into your workplace.
Can Cultural Change Happen?
High turnover is a sign that your company has a problem. High turnover can disrupt productivity and workflow and cause financial problems. Why are people leaving?
You may need to realize that employees leave for reasons other than salary. Your culture could be the root cause of the mass exodus. Your leaders may think that fear will keep employees on the right track, which is why there’s no room in the workplace for empathy.
They are incorrect.
Hostile environments can make it difficult for people to thrive. How can employees stay committed and engaged in a company they don’t respect? They won’t. They will leave, and you’ll continue to go through the same cycles of change until you embrace change.
Cultural changes are possible. Although it’s not an easy task, and you will experience discomfort, you can make significant changes to your workplace and encourage empathy. You’ll be more likely to retain employees and increase profitability.
Are You a Good Educator?
You will need to find out what motivates your employees and how they view your culture. Although you may not like the answers they give, they will be truthful and allow you to take action.
Combining data from your company’s turnover with their feelings should give you insights that will help you make better decisions and move you toward greener pastures. What are your thoughts? Get your copy of Mean people sucking to get deeper insights into employee satisfaction. You’ll also get a bonus visual companion book with your purchase. We can help you if your culture has reached a turning point. Please take a look at our services, or let me speak with your team about the power and profitability that comes from empathy.