This article comes from Entrepreneur.
Improving company culture is vital to talent retention and recruitment. See how you can create a positive work environment by following the examples of some of today’s leading businesses.
Companies that engage employees can reduce voluntary turnover by fifty-four percent, highly engaged employees are fifty percent more likely to exceed expectations, and happy employees are on average thirty-one percent more productive.
Communicate your company vision to your employees – explain your strategy, create short-term targets for each worker, and work together to achieve long-term goals.
Ninety-one percent of employees say that they go above and beyond what is normally expected in their jobs with clear vision.
Be proactive in workplace health and wellbeing. This is a relatively small investment that will return dividends in reduced sickness-related absences.
In a case study where a company covered seventy-five percent of the health insurance for employees and their dependents, seventy-one percent of staff feel that they “often or almost always” receive great rewards and twenty-one percent feel they sometimes receive great rewards.
Supporting your employees’ career development will revitalize their commitment to the role. Ask your employees where they see themselves in five years and help them to achieve those goals.
In a case study done at American Express, employers provided forty hours of training for full-time staff and twenty-five hours of training for part-time staff. Eighty-two percent of employees report the company “often or almost always” provides needed training, fair promotions, and personally challenging work.
Encouraging good team-building skills improves morale and productivity. Without team cohesion, you limit your team to the effort each individual can make alone.
One company that sponsored annual events that celebrated employees such as parties, picnics, and formal dinners and social activities like baseball, bowling, contests, and classes during work hours found that eighty-seven percent of employees say they “often or almost” always enjoy their colleagues and find their workplace to be fun and cooperative.
Sufficient vacation allowance is a great way to improve motivation and morale among your employees – making it one of the most popular perks among employees.
A company called Allianz found that providing flextime to help employees manage their commitments and offering thirty days of paid vacation per annum after one year of employment resulted in eighty-three percent of employees “often or almost always” find the company supports their work-life balance.
Building a great company culture doesn’t only improve employee motivation, it has tangible effects on your bottom life – making your business a hug for talented workers.
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