In the recent past, we came across ‘Great Resignation’ where employees left or switched jobs predominantly due to wage stagnation, rising cost of living, hostile work environments etc., in search of better and more fulfilling opportunities.
Those are few reasons, among numerous others, why organizations should strive for creating a workplace that cares for employee satisfaction.
But what makes for a great workplace? In this article, let’s look at key attributes that are essential for making a company a great place to work.
1. A company culture that cares for employee well-being
The most important components of building a sustainable business are creating ‘people-culture’.
Employees are more likely to stay associated with a company that cares for their well-being. Similarly, employers adopting an employee-centric culture are more likely to cut down their attrition rates. So, a win-win for both.
As an employer, if organizations think proactively about employee well-being, their business will spur a new age of growth and innovation.
Few steps organizations can take to promote employee well-being:
- Respect uniqueness of individuals and nurture diversity across organization
- Obtain periodic employee feedback and work on them
- Be proactive in taking employee welfare initiatives
- Establish a transparent and linear communication channel
2. Providing fair and competitive compensation
To be a great place to work, companies should focus on offering fair, competitive, and non-discriminatory compensation as a top priority.
Compensation plans are not only about salaries. It should include things like commissions, bonuses, employee stock options, or other benefits that complement a base salary.
Approach towards employee compensation is important because:
- It ensures that a company’s employees are satisfied
- It keeps employees motivated
- It helps attract the best talent in the industry
- It keeps the top performers engaged and encourages others to engage more
3. Having a focus on innovation
Innovation is an important element for any successful company. Innovation keeps an organization not only on top of its game but also inspires employees to push themselves to do great work.
A culture of innovation also appeals to employees with higher levels of creativity and lateral thinking.
4. Having inspiring leadership at the helm of affairs
Here’s the thing – the reason why employees would stay loyal to a company boils down to a lot more than just a cool office and some nice perks.
Therefore, all great workplaces have this in common – They are led by exceptional and inspiring leaders who set an example from the top.
These leaders genuinely care about their employees and value their inputs. The relationship between leaders and employees is based on mutual respect, trust, support, and honesty.
Some other qualities that great leaders often exhibit include:
- They communicate their expectations clearly
- While assessing talent, they look for qualities that fulfil the company’s vision
- They create great opportunities for growth
- They develop meaningful relationships with their employees
Conclusion
There is no sure shot metric to define what makes a great place to work. However, the few characteristics we discussed here are often commonly considered as attributes to identify great workplaces.
ICT Academy is recognized as a Great Place to Work this year for exhibiting such attributes aforementioned in this article.