Factors that Influence
- clarity surrounding bonuses and incentives
- the size and structure of the organization
- local economic conditions and cost of living
- the tenure of employees
Pay Satisfaction, Skill-Set & Job Performance
Pay Satisfaction, Skill-Set & Job Performance
Background Information
This topic explores employees’ perceptions regarding the relationship between their overall skillsets & job performance and their overall pay.
This question specifically utilizes the terms ‘skill-sets’ & ‘personal performance’ to establish a baseline for evaluating pay, rather than solely asking whether, “I am satisfied with my pay”.
Perceptions play an integral role in these results. Large salaries or recent pay increases will not lead to strong scores if employees do not perceive their pay to be fair or equitable.
The results for this theme may contrast with that of The Benefits Provided Meet My Expectations.
Why is this Important?
Perceptions around pay are often one of the lowest scoring areas across all the major themes of an employee engagement survey. As such, this topic can often be the ‘elephant in the room’ that is often ignored, never discussed and explained away as “no one is ever happy with their pay”.
When pay is consistently left unaddressed, employees can start to believe it is a significant issue and become more dissatisfied, as a result. Over time, this can negatively impact motivation, performance and talent retention..
Recommended Action Items
Consider implementing the following action items as part of your personalized strategy to improve the level of employee engagement within your team.
Bridge the Gap Between ‘Perceptions’ and ‘Reality’
Employees often have the perception that they are paid below market value. To improve this impression, reset the conversation by clearly communicating current market rates, company pay scales, and future payroll strategies. When employees are on the same page as the organization, it is much easier to start improving perceptions.
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Practice Transparency
The need to have open and clear communication is important when dealing with this matter. Employees can only be motivated by their current/future pay when they see the relevant details. Ensure that all employees have a complete understanding of how their current pay is calculated as well as what factors impact their future remuneration.
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Focus on Career Development
Many jobs/roles within an organization are steppingstones for the future. Grow the conversation from a focus on current pay into a conversation about skills and expertise that can be acquired. Creating career plans for employees helps them recognize the opportunities available to them with demonstrated hard work and dedication, on their part.
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The Value Proposition
Instead of focusing solely on an employee’s monetary remuneration, many organizations find it helpful to focus on the overall day-to-day employee experience. Improvements to the work environment, work-life balance, employee recognition programs and increased job security are all ways of improving the value of a job, without adjusting salaries.
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