10 reasons Employees stay with great companies
Building a Winning Workplace series.
This is part one of an eleven-part series of articles on what makes for a winning workplace. We will look at the issues from the perspectives of all the stakeholders – the organization, the people, customers, society, government, education and the world at large.
Lets begin with why some organisations are able to retain their talents so effectively? Why do the people in these organisations give the best part of their lives willingly? What are the 10 things these companies do right. What can we learn from them. So here are the top 10 reasons.
Sure, Money is a reason but not the only one. Money represents the value the organisations place on the employee and their worth. ‘Man does not live by bread alone’ said Jesus. And so great companies know this truth and practice earnestly all these 10 reasons to engage and retain their talent.People give the best part of their lives to their organisations and they look for a fulfilling and meaningful journey. Good organisations have successfully translated these needs from the basic to the highest level in their policies, practices and environment.
Mentoring: Every great athlete has a coach behind them. If you tie a small boat to a ship, it will reach the destination in the same time as the ship. Mentoring is a powerful motivator for employees to value their their relationship with their employer. Yet few companies pay attention to this factor of employee retention.
Challenge: It is said we don’t change when we have a choice, we change when we have no choice left. Everyone loves a challenge and good companies grow successfully because they have been able to create enough challenges for their people to take on. This works best when failures are not frowned upon but seen as experiments and stepping stones to success.
Promoted: Of course, everyone wants to move up in life. All the great work, challenges and mentoring will not be enough if tangible rewards such as higher responsibilities, promotion and commensurate remuneration do not follow. These are essential feedback mechanisms to communicate effectively to the employees the outcome of their performance and how much they are valued.
Involved: You Evolve when you Involve. Inclusion, belonging is a human need and good companies recognize this clearly and create enough opportunities to ensure their people are meaningfully involved in a variety of activities not confined to their work arena alone.
Appreciation: Who does not love to be appreciated for whatever they have done? Great companies have made these practices into an art and science and thereby have earned the loyalty and faith of their people. Appreciation for even the smallest tasks goes towards building a healthy work environment and make employees eager to turn up for work everyday. In these environments critique for nonperformance or mistakes are well received as feedback for improvement and seen as fair.
Valued: We value our people becomes an empty slogan if the policies and practices of the company are not actually based on this principle. It takes a lot of thought, empathy, vision and foresight for leaders to build these 10 factors into the DNA of the workplace culture. It starts with the leaders own view of themselves. If they do not practice what they preach in their own lives and homes, the chances are they will sooner than later be found out at the workplace too.
Mission: It is an inherent need for people to be part of something greater than themselves. The mission makes a soldier ready to die for his country. Good companies turn their business goals as missions for their employees and that becomes a huge motivator for people as they identify the wins of the company as their wins. Vision, Mission and goals for average companies are just framed statements which hang on a wall in their offices but for truly great companies their mission statements are the mantra they live by.
Empowered: This is a term which has become ubiquitous but only great organisations understand what it truly means. Empowerment of people happens only when all these 10 factors are practiced religiously otherwise it is just another empty tag line. There are systematic ways how to build an empowered employee and workplace. We will delve into the details in the later articles in these series.
Trust: Last but definitely not the least. The glue which binds everyone is trust, we all know that. Yet violations of trust are routine in everyday life inside and outside our organisations and homes. This makes trust a truly rare commodity these days and extremely valuable for which people will go to great lengths to search. Seeking trust is an inherent need in all of us. Good organisations take great care to build this element into their DNA and it reflects in everything they do right down to the smallest detail. When money is lost, it can come back but when trust and character is lost, then everything is gone.
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What other advice would you add to this list? I’d be interested in hearing your thoughts in the comments below.
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About Swarup Roy
Swarup Roy is a well known and sought after innovator, thinker, leader, writer, speaker, consultant in business, media, management and international relations globally. His latest innovation Self X Analysis Testing & Training Technology is helping organisations Identify, Engage and Retain talents effectively and improve their business performance.