Appreciation is the single most important thing for job satisfaction

Appreciation is the single most important thing for job satisfactionAppreciation is the single most important thing for job satisfactionCompensation data and software company PayScale released newdata on employee engagement, showing that appreciation is the thing employees value most when determining how they feel about their companys culture.The reportsays that how people are paid relative to the market for their location matters relatively little in terms of employee satisfaction. What does matter is how employees feel about how they are paid, which has 5.4 times as much impact.The researchers surveyed more than 500,000 workers for the report. Here are just a few of the findings, plus what companies can do to boost their success in the employee engagement department.The older you get, the more likely you are to stay put at workPayScales research found that employees ages 20-29 had an 8% higher chance of going on the job hunt again compared to those ages 40-49. The 30-39 year-olds w ere sandwiched in the middle of those two age brackets.But as ages climb upward, people are far less likely to leave Those 50-59 are 15% less likely to jump ship, while those 60+ are 50% less likely to.Why people leavePayScale found that company outlook had the biggest impact on intent to leave employer, (more than appreciation, development and others). The researchers found that someone who strongly agreed that their employer would be successful down the line is half as likely to aim to quit over the following six months than someone with a neutral perspective on this concept.Someone who strongly thought the company wouldnt succeed was 2.6 times more likely to leave compared to the neutral employee, the report found.How companies can make employees feel more engaged at workThere are a variety of ways to do this.Prioritize making workers feel like they matterMaking workers feel appreciatedwas just one of the takeaways of PayScales research.Its likely that employees would enjoy the b enefits of having a heftier paycheck, but after citing things like spot bonuses and merit-based pay increases as ways to show workers appreciation, PayScales report makes it clear that money isnt the only solution.Encourage managers in your organization to get into the habit of providing timely and positive feedback for a job well done. Employees need to regularly hear the message that their work is seen and valued. They need to understand, and feel that the company understands, how their work contributes to the companys mission. Finding ways to convey appreciation can be a simple, cost-free way to increase employee satisfaction across the board, the report says.Dont keep employees in the dark about their performanceOutside research has found that letting employees know how theyre doing in the office goes hand-in-hand with recognizing their work.Giving workers positive feedback and chances to climb the corporate ladder can go a long way.Dont forget to encourage bondingTim Eisenhauer , Co-founder and President of Axero and a developer of Communifire,writes in Entrepreneurabout how doing this can help employees feel more engaged.Having fun together not only breaks up the routine but also encourages creativity and collaboration. Sponsor a company softball tournament or host a monthly dress-up day, where employees can wear their ugliest sweater or sport a crazy hair color. Of course, management must also get in on the action, which further contributes to authenticity, visibility and communication, he writes.Appreciation is the single most important thing for job satisfactionCompensation data and software company PayScale released newdata on employee engagement, showing that appreciation is the thing employees value most when determining how they feel about their companys culture.The reportsays that how people are paid relative to the market for their position matters relatively little in terms of employee satisfaction. What does matter is how employees feel about h ow they are paid, which has 5.4 times as much impact.FollowLadders on FlipboardFollow Ladders magazines on Flipboard coveringHappiness,Productivity,Job Satisfaction,Neuroscience, andmoreThe researchers surveyed more than 500,000 workers for the report. Here are just a few of the findings, plus what companies can do to boost their success in the employee engagement department.The older you get, the more likely you are to stay put at workPayScales research found that employees ages 20-29 had an 8% higher chance of going on the job hunt again compared to those ages 40-49. The 30-39 year-olds were sandwiched in the middle of those two age brackets.But as ages climb upward, people are far less likely to leave Those 50-59 are 15% less likely to jump ship, while those 60+ are 50% less likely to.Why people leavePayScale found that company outlook had the biggest impact on intent to leave employer, (more than appreciation, development and others). The researchers found that someone who stron gly agreed that their employer would be successful down the line is half as likely to aim to quit over the following six months than someone with a neutral perspective on this concept.Someone who strongly thought the company wouldnt succeed was 2.6 times more likely to leave compared to the neutral employee, the report found.How companies can make employees feel more engaged at workThere are a variety of ways to do this.Prioritize making workers feel like they matterMaking workers feel appreciatedwas just one of the takeaways of PayScales research.Its likely that employees would enjoy the benefits of having a heftier paycheck, but after citing things like spot bonuses and merit-based pay increases as ways to show workers appreciation, PayScales report makes it clear that money isnt the only solution.Encourage managers in your organization to get into the habit of providing timely and positive feedback for a job well done. Employees need to regularly hear the message that their work is seen and valued. They need to understand, and feel that the company understands, how their work contributes to the companys mission. Finding ways to convey appreciation can be a simple, cost-free way to increase employee satisfaction across the board, the report says.Dont keep employees in the dark about their performanceOutside research has found that letting employees know how theyre doing in the office goes hand-in-hand with recognizing their work.Giving workers positive feedback and chances to climb the corporate ladder can go a long way.Dont forget to encourage bondingTim Eisenhauer, Co-founder and President of Axero and a developer of Communifire,writes in Entrepreneurabout how doing this can help employees feel more engaged.Having fun together not only breaks up the routine but also encourages creativity and collaboration. Sponsor a company softball tournament or host a monthly dress-up day, where employees can wear their ugliest sweater or sport a crazy hair color. Of cou rse, management must also get in on the action, which further contributes to authenticity, visibility and communication, he writes.This article originally appeared Nov. 10, 2017.