Every year since 1997 Fortune Magazine has produced the list of the Best Companies to Work For. While this list is focused on larger companies, there is something for small businesses to take away and implement in their own operations. But why have an employee happiness focus in the first place? How about we give you the bottom line (If you watched CBS Sunday Morning last Sunday, you know what’s coming). When you compare annualized stock market returns, the companies in the Fortune Best Companies to Work For list averaged nearly twice the overall return when compared to the overall market. We hope this gets your attention.
So how do you have a world class workplace? What are the common actions that you can implement to become a Best Company to Work For? Here’s our list – if you have anything else to add, please let us know.
- Create a relationship of trust.
- Having an environment where employees feel that they have a family-type relationship with their co-workers and bosses, you engender the feeling that when others need help, they are there for each other. Do what you say.
- Watch your language.
- You hear words like “team” and “we” an awful lot in these working environments. When others get the credit, they are more likely to pass that good feeling along to their co-workers. Create teams with overall goals that benefit everyone.
- Follow through with your promises.
- Say what you mean. Consider team bonuses based on team performance. If everyone succeeds, everyone should be rewarded.
- Make your actions stand for what you believe in.
- If you have taken the time and effort to create a vision statement and a mission statement, make sure that you walk the walk and talk the talk. When everyone is on board, you’ve created ambassadors for your brand.
- Listen to your employees.
- Creative benefits can make a ton of difference and cost less than you think. Look to what motivates them. Is it yoga classes, child care, Super Bowl parties or liberal vacation policies? Find out what it is and work it into your cost structure.
- Listen to the gripes too. And look back to them to come up with solutions to their own problems. This will change your culture and their outlook on their job and you as a business owner.
These are just a few ideas. In the end, our advice is to work to create an environment where employees can make themselves happy. When they take on that responsibility, it’s possible that increased productivity will come much easier.
Remember: Happy Employees Equal Bigger Bottom Line!
Do you need help with creating a more productive workforce? Know that the staff at the BRIC are here to help. Call us at 775-283-7123 or stop by at 108 E. Proctor Street. Just bring an open mind and then the sky’s the limit!