Job satisfaction may have consequence on many different aspects of one’s business. A global survey of six industrialized nations including the India showed that only 20 percent of Indian workers are content with their jobs.
Knowing the importance of job satisfaction will encourage one to make sure that his/her employees are not among the 8 out of 10 dissatisfied. In order to understand the importance of job satisfaction, one has to put together economic factors to it. The expenditure involved in replacing an employee comprises of advertising for a replacement, the fall in productivity that happens when one loses an experienced employee as well as in productivity that occurs when one is trying to bring a new employee.
Developing job satisfaction lowers employee turnover as well as lessens the costs to the company. A dissatisfied employee who is not happy with his job might cause a fall in overall productivity. But when that specific employee commences to spread his dissatisfaction among the rest of the staff, it can lead to a drop in employee morale. The dissatisfaction with the company can rise if not addressed, and a universal fall in productivity may happen.
The employees who are completely satisfied with their jobs do not create issues with staff confidence. An employee who is satisfied with his job will make sure to hold on to that job for as long as possible. When the company provides training to boost employee’s knowledge about their job duties, it is accepted by satisfied employees. Satisfied employees are much more eager to apply innovative knowledge to their job performance as well as help to enhance the company's competitive advantage. At the same instance they will also try to recruit people they know who have the background that can help the company.
Recruiting fresh talent for the company becomes simple when the existing staff is satisfied and has high respect for the organization. The research has showed that employees and candidates have different needs that change over time depending on where they are in their career and family life-cycles. The time when several companies have mentioned these issues in terms of retention, some have incorporated them straightly into the recruiting process. To test this process, the company gives candidates the following list comprising of this standard job satisfaction factors.
- Kind of work being carried out
- Importance of work being performed, acknowledgment, and effects on the company.
- Career expansion and advancement opportunities.
- Quality of associates and team members from a professional and personal standpoint
- Present compensation
- Complete job security
- Long-term compensation
- Company and culture
- Company-sponsored learning opportunities
- Work/life balance
The duty of human resource agencies is to make the perfect jobs available to as many candidates as possible, offering these people the opportunity to develop themselves. This has to be done with equal opportunities for everyone, with respect for health and safety, as well as with unyielding integrity. It is necessary to advocate equal opportunities and unbiased competence management, irrespective of religion, gender, race, age, and many more. Recruitment consultants in India play a vital role in rising people from the level of unemployment to employment.