Determining the success of your workplace can be tricky, as your bottom line and sales conversion rates will only tell you so much. Metrics that measure employee satisfaction, stress, and turnover are arguably just as valuable. The following are a few of the most useful metrics for establishing and maintaining a productive and harmonious workplace:
Happy employees are productive employees. Unfortunately, employee satisfaction can be tricky to measure. Surveys should be anonymous, and employees should be promised no retribution based on their responses. Questions should not only address how satisfied employees are with their work, but also what they think about specific aspects of the workplace, such as transparency, diversity, communication with coworkers, and communication with management.
Employee engagement is just as important as satisfaction. Some employees may be satisfied with their jobs, but not particularly motivated. The goal, of course, is a blend of the two. As with satisfaction, engagement is best measured via surveys, although sick days and work put in outside of the office can also be taken into account.
Employee satisfaction metrics can provide exceptional insight, but not all employees are 100 percent honest when answering these surveys. Few things send a message to management faster than an employee’s departure, so the following turnover metrics should be collected and analyzed carefully:
- Employee retention rate — what percentage of employees remain with your company for a given period.
- Employee turnover rate — how many employees leave in a specific period of time.
- Voluntary versus involuntary conversions — who leaves because they want to leave, and how often are people laid off or fired?
Applying Workplace Metrics
Once you’ve gathered information about employee satisfaction, turnover, and retention, you can take steps to address the issues highlighted by these metrics. Employees will take little stock in surveys if their results are not used to fuel necessary changes. Let notable findings about employee stress and satisfaction fuel an open and honest discussion about what, exactly, makes for a productive and engaging workforce.