A happy workforce is good for business. That translates to an environment where employees are inspired – where people WANT to make a difference. In this people-centered paradigm, strategists are looking beyond questions like “how can we be profitable?” Instead, they’re asking questions like “how can we be a great place to work?”
Companies that embrace the great-place-to-work model are at a competitive advantage in the war for talent. The best candidates are seeking those companies out. That’s making it more imperative for other aggressive companies to adopt that model as a key business goal.
What steps can a company take to be a great place to work? It starts with understanding key components of workplace satisfaction.
Employee engagement – companies with top-to-bottom engagement are more productive and perform better financially. Engagement means staff are passionate and positive about what they do, and feel aligned with the company mission and goals.
Transparency – this came up as the #1 factor in a 2013 survey by Tinypulse. Open communication is key. The more employees feel connected with management, coworkers and work teams, the happier and more engaged they are.
Appreciation – being recognized for their work came out #1 in a huge Boston Consulting Group survey of over 200,000 people from around the world.
Other factors like compensation and company stability ranked high also, but focusing on the 3 above guides us to a key understanding: that a culture with open, positive communication can lead directly to a better workplace.