An employee who has stayed with a company and thrived in it for over 10 years is quite a feat in today’s professional landscape. It’s rare to find hardworking and loyal personnel who started as a young candidate from a recruitment agency and made it up your company’s own ladder. In a case like this, you’d want to know what makes them stay.
There are many reasons why an employee stays loyal to a company. It may be the salary you’ve been paying your workers or how awesome the workspace looks. Perhaps it’s the way they are treated at work or a combination of everything. This is where workplace culture comes in, making it a key factor in not only keeping top talents but also attracting them.
Take the best companies to work for in 2018 according to employees. They have the perfect mix of competitive salaries, reasonable benefits, and fabulous workspaces. If you keep your employees happy, they will stay for years to come, and you would even have many others want to work for you. It may sound simple, but it takes a lot to achieve this.
Back in the day, it didn’t take much to please employees. Offer them an attractive salary package, decent benefits with a comfortable-enough workspace, and they’re good to go. Fortunately, we have progressed from that and made changes to make things better. Now, it’s a little bit more complicated.
In establishing a company that has one of the best workplace cultures in your industry—or even in general—you will have to know how to focus on your employees while not compromising the growth of your business. It’s a tough challenge, but it can be achieved even if you’re merely starting out. You just need to establish a workplace culture and get on with these trends.
1. Performance Review
Many employees will want to quit their jobs if they feel their efforts aren’t appreciated or recognized at work. This where a performance review comes in.
A performance review plays an integral role in the open line of communication that should be established between you and your employees. This is an opportunity to offer them the acknowledgment they’re looking for, so they can be encouraged to strive and achieve lofty goals while nipping the problems in the bud before they grow into unmanageable proportions. Here are a few more benefits:
- Gauge their abilities
Knowing your employee’s strengths and weaknesses allows you to help them make themselves better professionals while addressing their flaws.
- A means to motivate them
Once they know how they stack up in the company, the performance review can be a way to motivate them and take their talents to the next level.
- Nurture their talent
Your top talents are the frontrunners and perhaps the future of your company. After going through a performance review, you will know if they’re ready to assume a greater share of responsibilities within the company.
- Groom them for success
If an employee’s performance is lagging, you will be able to figure out if there are gaps in their training or if they need more for future advancement in the company. This is the best time to talk about their goals and make sure everyone is on the same page.
2. Career Development Opportunities
Nobody likes a dead-end job, so a good workplace culture is where your employees can thrive. Provide them with opportunities that can motivate them to improve their skills. To encourage the kind of workplace culture where your best employees help create a path that leads to success, you should offer them opportunities such as:
- A mentoring program to bolster their confidence, knowing they’re learning from the best the company has groomed them to be. He must not be a manager, but a peer who has one of the top talents in the team.
- The best tools for the job, such as a new computer as opposed to an old hand-me-down clunker used by a former employee. Providing a conducive workspace with the right equipment refines their skills and makes them work more effectively.
- A comprehensive training program where employees can learn the ropes quickly and pick up new skills. This gives them the confidence to face the challenges on the job with much enthusiasm.
3. Communication with Managers
Relationships between managers and their staff can sometimes be tricky. But with an open line of communication quickly established, they can feel more valuable as a member of the team. Their voice can be heard and what they say holds water.
This is also a two-way street where employees can learn a thing or two from their interactions with their managers, who can even help them advance in their careers.
4. 360-Degree Employee Feedback
Performance reviews don’t have to come from superiors or managers. The 360-degree employee feedback gives employees a different perspective on how they are viewed by their peers and other colleagues within the company. This kind of review gives them varied insights regarding both their performance and behavior as a team player.
Employees will have a different take on how they see themselves compared to what their superiors say. They can make the necessary adjustments on how to improve themselves in relation to their co-workers or other members of the organization. Combined with the performance review from their managers, they will be able to objectively examine themselves from all angles to foster growth.
Helping your employees improve their skills or even learn new ones has wonderful benefits both for them and for the company. They become better at what they do while giving them more opportunities to grow in their careers. As such, your company pushes forward through their excellent capabilities. It’s a win-win situation.
6. Values in the Workplace
A company that’s driven by moral principles can be an inspiring workplace, drawing in individuals who share the same ideals. If they share similar values as your company’s, this will define it at its core and help propel the business realize its goals.
Why Is Workplace Culture Important to Top Talents?
1. It helps achieve organizational and personal goals.
Attracting the best talent you can find and forming teams from them is a great way to build your company that’s made for success. Just make sure you and your employees are on the same page, and they are well-equipped to tackle any sort of challenge.
2. It motivates them to work.
Think of ideal workplace culture as the defending champions of a sports dynasty team. Most players would want to join them to win. This is a strong motivator to become as good as your teammates, or even better, to make sure you are one of the reasons why the team is winning.
3. It develops their sense of purpose beyond high company profit.
A great workplace culture is important to top talents because it gives them an overall view of where they are in their careers. Workplace culture can mean a lot of things such as office environment and decision-making process. It’s no surprise that top talents prefer to stay away from a leading company with a bad workplace culture because it’s just one aspect of their career.
You have to remember that being a company giant in your industry increases the quantitative factors (e.g. high company profit) of your company. However, the disconnect happens in bridging this gap with the company culture. Stir your employees’ goal of having a positive impact to other people’s lives. Once they see that their work translates to something bigger than they are and something higher than their performance in the company, that’s when they will stay.
To Wrap Up
It may be tough for some companies to keep or seek out the best talent out there, but if you set the right conditions, they will gladly stay or be at their best just to be part of your team. These trends will be able to help you make the necessary adjustments your company may need, so you can set the stage for your outstanding employees. Give them the right opportunities to show you what it takes to grow your business, and they’ll help you steer it to success.