Each year, companies large and small vie to be named as a Best Place to Work by various media outlets including Inc., Forbes, local Business Journals, industry trade papers and regional publications. Results are typically based on a combination of factors including compensation, benefits, and anonymous surveys of employees at all levels within the company. The impact of being acknowledged as a Best Place to Work goes well beyond the feel-good moment. Extensive research has shown that these companies consistently outperform their competitors on almost every level from customer service to profitability.
On the surface, it may appear that a great compensation plan and fancy perks such as ice cream sundae bars, bring your pet to work days, and incentive trips to Europe are all that’s needed to create a Best Place to Work. While these aspects make great photo ops, the core qualities of a great workplace run much more profound. Here are some of the primary characteristics that these exemplary companies share:
Shared Vision – From the very top executive to the rank and file worker, everyone shares a compelling vision that unites their efforts. This vision is clearly articulated, regularly reinforced and drives every major decision and action. The shared vision energizes the team and gives everyone a common goal to pursue.
A Sense of Belonging
When workers, particularly millennials, join companies, they expect to join a community. A sense of belonging does not occur by merely sharing a workspace and company logo. Leaders that successfully foster a sense of belonging encourage camaraderie, celebrate success together and let people know that their opinions matter.
Trust & Empowerment
Trust is a powerful dynamic between workers and company leaders and takes time to cultivate. Executives at many Best Places to Work are clear to state that they place trust in their employees and empower them to resolve problems and make decisions. For workers, having confidence in their employer and leadership team is critical to overall job satisfaction.
Development of Potential
The days where a worker has a sole function in an organization are quickly disappearing. Many companies now hire for specific personality attributes that are a cultural fit for the organization and then invest heavily in training and continual professional development.
Companies that recognize the importance of work-life balance always rank high on employee favorability surveys. Flexible schedules, telecommuting options, family-friendly policies, and workplace wellness initiatives are examples of popular programs that reduce burnout and motivate employees.
People over Profits
This may seem counterintuitive given the fact that the entire purpose of a business is to turn a profit. However, when employees feel valued over a quick profit, they’re more likely to place their trust in management and go the extra mile for the organization.
Reward and Recognition
On surveys about the most important aspect of workplace satisfaction, one of the top replies is recognition. Workers want to feel that their contribution is acknowledged and appreciated, whether it’s a passing comment from management or a formal award handed out at an annual meeting. When companies implement well-organized recognition programs, workers strive to meet the expectations set by leadership.
Every organization has employees or teams that deserve appreciation, respect, and recognition for their achievements and milestones. Visible Applause crafts custom awards that honor workers and reinforce the core values of the company and its leadership. Our mission is to help corporate leaders celebrate their employees with one-of-a-kind tributes that create lasting impact.