Effective Strategies for Employee Satisfaction Programs

Employee satisfaction is the result of organizational strategies that utilize both tangible and non-tangible benefits, according to a recent Business Excellence Board study. The study results indicate that the most effective method for garnering employee satisfaction among the benchmarked companies was employee recognition and praise at weekly or monthly staff meetings.


Advertisement


Low Cost Accounting Software Support

Provider of low cost support, consulting, training and custom report writing for MAS 90, MAS 200 and MAS 500 accounting software systems. Call us toll free at 1-866-762-3990 to learn how we can help. http://www.saveonsupport.com


The Organizational Strategies for Improving Employee Morale benchmarking survey examined 39 companies of varying sizes from multiple industries including banking, consulting, food and beverage, pharmaceuticals, financial services and technology. Results revealed that trends in employee satisfaction programs demonstrate the effectiveness and cost of tactics. Company size alters the effectiveness of both high-cost and low-cost tactics, indicating that it is vital for firms to ascertain the most appropriate strategies for their size in order to maximize efficiency.

The study identified three trends in employee satisfaction programs to help executives and managers:

  • Learn the advantages and disadvantages of different strategies
  • Allocate funds appropriately for maximum employee satisfaction
  • Gain from other company’s trial and error to establish effective employee satisfaction programs

Other specific data points include:

  • Intervals of communication activities
  • Responsibility for implementing and funding programs
  • The impact of company size on effectiveness ratings of tangible and non-tanglible benefits.

Each of the many tactics for improving employee morale and satisfaction has different advantages and disadvantages. Comparison of the cost of execution to effectiveness reveals the framework for achieving the best results.

You may like these other stories...

IRS audits less than 1 percent of big partnershipsAccording to an April 17 report from the Government Accountability Office (GAO), the IRS audits fewer than 1 percent of large business partnerships, Stephen Ohlemacher of the...
Is it time to consider a value added tax?Forbes contributor Joseph Thorndike wrote yesterday that he believes the tax reform proposal by House Ways and Means Committee Chairman Dave Camp (R-MI) was dead on arrival. But he...
Read more from Larry Perry here and in the Today's World of Audits archive.The planning phase of an audit engagement of an entity using US GAAP or a special purpose framework will, with minor differences, include similar...

Upcoming CPE Webinars

Apr 22
Is everyone at your organization meeting your client service expectations? Let client service expert, Kristen Rampe, CPA help you establish a reputation of top-tier service in every facet of your firm during this one hour webinar.
Apr 24
In this session Excel expert David Ringstrom, CPA introduces you to a powerful but underutilized macro feature in Excel.
Apr 25
This material focuses on the principles of accounting for non-profit organizations' revenues. It will include discussions of revenue recognition for cash and non-cash contributions as well as other revenues commonly received by non-profit organizations.
Apr 30
During the second session of a four-part series on Individual Leadership, the focus will be on time management- a critical success factor for effective leadership. Each person has 24 hours of time to spend each day; the key is making wise investments and knowing what investments yield the greatest return.