The jobsDB report Laws of Attraction (jobsDB Laws of Attraction) has concluded that in Hong Kong employees who are happy and engaged are a company’s best assets. They are both intellectually and emotionally committed to the company, and are more willing to invest extra time and effort to see it succeed. However, the study also found that only 23 per cent of job seekers surveyed feel very happy or happy with their existing employers.
Among the 20 industries surveyed, insurance, internet and start-up, education and training, engineering, and banking and financial services feel the most satisfied with their employers, with “Work/life balance” and “Career Development Opportunities” being two of the main factors for joining a company.
In terms of employee age-group, Generation Z aged 18 to 23 (26 per cent) and millennials aged 24 to 34 (24 per cent) are, on average, happier with their employers than Generation X aged 35 to 54 (21 per cent) and baby boomers aged 55 to 64 (21 per cent). In particular, the latter two groups believe that “Colleagues/co-workers” is the third most important factor that should not be ignored by employers.
While salary is always important to employees, other non-monetary factors also play a key role in job satisfaction. Here are four ways to keep employees happy and attract new talent:
1. Protect work-life balance
In this digital age, it is easier than ever to communicate with anyone at any time. However, it is also more difficult than ever to keep work and personal lives separate. As much as possible, employers should avoid contacting their staff outside of work hours, as this can cause employees to feel overwhelmed and resentful about their lack of personal time. Flexible work policies, such as variable hours, arrangements and remote work, are also preferred, as they help employees manage life’s demands.
2. Set a clear career roadmap
Employees who do not think their career is progressing will often change jobs or lose motivation to perform to the best of their abilities. By offering an upward career roadmap, employers can help staff members take ownership of their careers. Knowing their hard work is leading somewhere is crucial for job satisfaction. Employers should also conduct performance reviews and offer constructive feedback more frequently to address any immediate issues effectively before they become bigger problems.
3. Recognise your employees’ achievements
Recognition boosts positivity and motivation in the workplace. Employers should applaud the achievements of employees and show appreciation by thanking them, whether by email or by praising them publicly at a company meeting. It is also recommended to reward high-performing employees with gift vouchers or extra days of leave.
4. Promote an open culture
Transparency is essential as it fosters trust and creates an open company culture. Employees value company cultures where news and updates, both good and bad, are shared with honesty and conviction in a timely manner. The information gap between top-level management and the rest of the staff is often an issue of contention, so employers are encouraged to pass information down the chain more efficiently and keep communication flowing both ways.