QUESTION What does Job Satisfaction mean toYOU? Take a minute to write this down on yourpiece of paper.
What is Job Satisfaction andwhy is it important? Job Satisfaction is a positive feelingabout one’s job resulting from anevaluation of the jobs characteristics. “Job Satisfaction is an importantdeterminant of retention and turnoverand may also affect performance.(Oxford University)”
How is it Job Satisfactionmeasured? There are 2 popular approaches: 1st: The single global rating, in which employees beingsurveyed responds to a question, such as “All thingsconsidered, how satisfied are you with your job?”(Generally in a scale of 1 to 5) 2nd: The summation of separate key elements in a jobsuch as the nature of the work, supervision, presentpay, promotion opportunities, and relationships withco-workers. “The natural tendency would to assume that theSummations of Job Facets would be a more accuratemeasurement of overall satisfaction. However, researchshows that a Global Rating is more accurate. (Judge)”
Universal Job SatisfactionFactors (according to OxfordUniversity) Rate of Pay Hours Worked Job Recognition Opportunity for use of abilities Freedom to choose own method ofworking Amount of responsibility given Colleagues and fellow workers Overall Satisfaction
Question to the class Given what we have told you, what doYOU think are the best ways to achieveJob Satisfaction whether it’s you as amanager or you as an employee?
“Overall Job Satisfaction improved from 1990-1998, although the year 1998 was still farbelow job satisfaction of 1987.” “Women tended to report higher levels ofjob satisfaction than men in all 3 years.” “The rise in job satisfaction in 1990-1998was in relation to “recognition for goodwork; amount of variety in one’s job andphysical working conditions”○ (Oxford University)Our Research on JobSatisfaction during the 1990’s
Our Research for JobSatisfaction during the 2000’s Most important job factors: 1st: Job Security 2nd: Benefits 3rd: Composition Pay Career Development was ranked mostimportant on 2004 and then in 2012. “Employee’s overall satisfaction with their jobsis down five percentage points from its peak of86% in 2009 and four percentage pointsabove its low in 2002 (77%).”(SHRM)
Why do you think that overall jobsatisfaction peaked in 2008 and 2009,when the recession was starting? Why did it decrease in the followingyears?
Conclusion “According to this study, in 2012 81% ofU.S. employees reported overallsatisfaction with their current job, with 38%of employees indicating they were “verysatisfied” and 43 % “somewhatsatisfied.”(SHRM ) Job Satisfaction not only changes overtime due to different generations’ needs butalso to changes in the economy. Anindividual’s job satisfaction preferences willalso change over time.
Hypothesis We think 2013 will be similar to 2012 . Top Job Satisfaction Factors will be: Job Security Opportunities to use skills and abilities Benefits Pay Relationship will supervisor