In Part 1, we identified the characteristics of a great place of employment. Now in Part 2, we’ll talk about the advantages to your company – that is, what’s it in for you.
Here are some key advantages based on multiple studies:
- Greater profitability
- The Great Place to Place Work Institute’s research reports its top 100 U.S. companies have stock market return about double those of S&P 500 companies overall.
- But you don’t have to be a publically traded company to attain better financial performance.
- Lower voluntary employee turnover
- For most industries, those companies that are considered to have created a highly positive work culture have voluntary turnover rates less than half of others.
- Here are some industry examples:
- Greater talent attraction
- Fortune magazine cited having a reputation for being a great employer as more important to prospective employees than the rest of the factors combined!
- Just think of the advantage of being able to draw top talent to your organization.
- Talent + Culture = Success
- Higher customer/client satisfaction levels
- It’s true – when employees feel good about where they work, it’s reflected in a positive way in their interactions with customers/clients.
- The converse is also true!
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EMPLOYER ACTION
Answer these three questions about your organization:
- Do we want your employees to consider you to be a great place to work?
- Very rare is an employer that does not want this to be the case
- Do you have an assessment tool to measure how your organization is doing related to the characteristics of great employers?
- If not, you probably do not have a reliable gauge.
- When is the last time you did a formal assessment?
- If it’s been a year or longer, you should consider re-doing an assessment—especially if the last set of results were less than really good.
HOW TRINITY CAN HELP?
Trinity can:
Custom design & administer an assessment tool
Provide results analysis
Develop a detailed action plan based on the results
For more information, email Trinity at info@TrinityHR.net or visit our website at www.TrinityHR.net.
You have HR questions…Trinity has answers!