6 Ways to Become a Company People Want to Work For

Creating a strong culture is key to becoming a world-class workplace.

Every founder wants their company to be known as a top workplace and desired company to work for. But how can you create that reputation? Recently, my team at Vistage compared data on the companies that won workplace awards with other companies captured in a survey of 1,518 CEOs from small and midsize businesses conducted last fall.

What we discovered was that the winning c  ompanies demonstrated greater focus and commitment to their culture, and they also appeared to have stronger cultures. More than one-quarter of CEOs from the winning companies said they were satisfied with the strength of their culture, a percentage 2.5 times greater than that of the CEOs from the other companies.

The winning companies demonstrated a deeper commitment to performing rituals that engaged employees. These companies were: 

1. Reexamine your workplace culture and make changes.

Now is a perfect time to reassess existing culture and make sure it still serves its purpose. For some, this might mean tackling institutional problems a remote workforce revealed. For others, this could mean finally taking the time to figure out what you want your workplace culture to stand for and where you can make meaningful changes to policies.

2. Invest in your employees’ development and well-being.

Don’t just say that you care about your employees; prove it by investing in them, and today that also includes investing in their mental health. Recent events have proved to be a traumatic time for most, including those who have been indirectly affected by job loss, health issues, or civil unrest.

Professional development for employees is just as important now as it has always been, but doubling down on resources to help your employees care for themselves and their families–as well as being sensitive to those needs–is key. Your people will notice these investments and appreciate them.

3. Use hiring or re-onboarding as an opportunity to share your culture.

Whether you’re planning to welcome furloughed workers back or are fortunate enough to ramp up new recruitment again, impressions matter, so make sure that these employees hear the right messages about your culture from the outset. Consider scheduling virtual meetings to personally connect with each new hire and discuss the company culture. This can have a positive and lasting impact.

4. Prioritize companywide diversity and inclusion efforts.

Job seekers consider workplace diversity an important factor when considering employment opportunities. Consider diversity and inclusion training to not only foster greater understanding and teamwork, but to also ultimately drive greater innovation, creativity, and productivity.

Communicate clearly to employees about how your diversity and inclusion efforts play in your organization’s core values and its approach to work. Employees are laser-focused on what their leaders are saying and doing. You have their attention, so now is the time to recommit to establishing an inclusive workplace culture as a key part of your company.

5. Create programs that reward and recognize the right behaviors.

Think about how you reward employees and whether those rewards are consistent with your cultural values. If they’re not consistent, change them. If you reward your employees on the basis of sales goals, this implies that your culture puts greater value on “how much” than on “how.” If that’s not the message you’re trying to send, you may need to adjust your compensation structure.

6. Highlight workplace safety and security.

These efforts need to be more front-and-center because of Covid-19. Once we start returning to work, feeling safe and secure in an office or field environment is going to make all the difference for employees. Only then will they be able to not just perform well but also take advantage of a company’s culture, feel good about it, and actively contribute to make it stronger.

Engaging your employees is more important now than it’s ever been before. Using the above tools to establish a strong and inclusive workplace culture can make all the difference.

Source: https://www.inc.com/joe-galvin/six-ways-to-become-a-company-people-want-to-work-for.html?es_p=12119033

Be Good to Your Employees or You’ll Lose Them. Here’s How to Build a Winning Company Culture

If you want to keep an engaged workforce, focus on loyalty.
By Bernard Coleman

I’ve worked in a number of industries– from political campaigns to state government to tech and more. Each industry provided a unique experience but above all, the most memorable experiences were with those organizations with a great work environment and a culture of loyalty.

I can recall when working at one organization, we’d have all-staff meetings where we celebrated the tenure of staff. What impressed me was the length of tenure — five, 10 and 15 years or more of employment. It struck me as something unique and special as that staff had such longevity and loyalty to the organization. I wondered how the organization engendered so much loyalty.

It came down to one thing: effective employee engagement. I view employee engagement as effectively managing all dimensions of the employee journey extremely well, which encompasses attraction of talent, recruitment, hiring, development, retention, productivity and loyalty.

In business, one of the most significant and measured metrics is customer loyalty as there is a direct correlation between derived growth from loyal customers and economics. A loyal customer base can help organizations withstand threats by new challengers, can contribute to company growth, innovation, increased revenue and other positive indicators.

In fact, systems were created to capture the strength of customer loyalty. A well-known system is the Net Performer Score (NPS). The NPS gathers insights to measure and manage customer loyalty and that customer loyalty is why people stick by brands in thick or thin.

Surprisingly, it seems as though the world of business doesn’t always agree with the concept of loyalty as it relates to their own employees. According to Rick Wartzman, author of The End of Loyalty: The Rise and Fall of Good Jobs in America, there has been an erosion of the social contract between companies and employees since World War II due to forces such as automation, globalization, outsourcing, the decline of unions and the emphasis on maximizing shareholder value at all costs.

I’d argue that the makings of a successful employee engagement strategy now comes down to three elements:

1. Respect powers loyalty.

Employees leave companies all the time and even more so in a bullish market where talent is a sought after commodity. As such, every organization’s people function is monitoring their levels of attrition as it represents a direct cost against their company profit and loss margins. Higher than normal attrition leads to brain drain, organizational instability and can further contribute to losses in revenue, customers, and market share.

Loyal employees won’t stay forever but they will hang around longer if their employer treats them well. Loyalty is what makes people stay– not pay, not benefits, not perks. Loyalty is the stickiness in the mix.

2. Empowerment enables trust.

Organizations must have some level of empowerment from the top to encourage innovation. Further, staff members need to trust in the mission that dictates why the organization exists. Above all, organizational loyalty contributes to the overall employee value proposition and its byproducts are a great product and culture.

3. Invest in your people.

Employees want to grow their own careers and are always seeking ways to gain more knowledge. Organizations should embrace a learning and development culture where staff can grow in a role.

Further, companies should utilize such benefits as section 127 of the IRS code which allows for educational assistance up to $5,250 a calendar year. Organizations are best served offering enrichment programs that help employees gain credentials they would not otherwise receive as well as management training programs and other certifications. That direct investment not only encourages loyalty but the organization directly and immediately benefits from a more knowledgeable workforce.

Disloyalty comes at a cost, not only internally but also externally. Former employees will take to social media and air their grievances. Unhappy staff who feel they were treated unfairly will use forums such as Glassdoor to publicly share their impressions, experiences which can quickly tank public perception, if there are multiple instances of culture issues.

Prospective employees can quickly see themes about the company culture by reading reviews, talking to current as well as former employees and may steer clear of organizations that convey disloyalty. If the internal dynamics are off, eventually the public will find out.

The moral of the story is to be good to your people. It pays off by the droves and insulates against unexpected attrition. If your company works hard to win loyal customers just as hard as loyal employees, the organization will be for the better. The days of employees staying years at one company are gone, however, the concept of loyalty still remains.

Source: https://www.inc.com/bernard-coleman/be-good-to-your-employees-or-youll-lose-them-heres-how-to-build-a-winning-company-culture.html