<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=290086984736480&amp;ev=PageView&amp;noscript=1">
word-map-thumb

The Alternative Board Blog

Change Your Culture to Boost Retention

Oct. 5, 2016 | Posted by The Alternative Board Worldwide
company culture

These days, employees leave one job and take another for a host of reasons. One reason that should never come up is a company’s toxic culture. In the hunt for talent, businesses can’t afford to lose valued workers because the work environment is dysfunctional, fear-based or insufficiently appreciative of their contributions.

Moreover, culture is rapidly emerging as a key differentiator when it comes to recruitment and retention. The best employees demand and deserve competitive salaries and benefits, but “they also want things that money can’t buy, such as an office environment that makes them happy and comfortable,” writes HR expert Rosemary Bryant, “whether that office environment fosters creativity, is laid back and relaxed, or makes work fun.”

Just as a great business leader determines the cultural quality of the company he or she leads, so ineffective leaders are responsible for a work environment that employees find uncomfortable (or often, intolerable) to work in. These individuals must first recognize the shortcoming in their leadership approach and then begin the hard work of changing their culture in order to keep their most valued employees.

Here are suggestions for achieving this critically important goal.

Understand what constitutes a thriving culture. Of course, “culture” can be a nebulous, catchall term meaning different things to different people. But, generally speaking, a strong culture is defined by these elements:

  • A workplace where people can ask questions and voice disagreements or concerns without any negative consequences
  • Flexibility in work schedules, recognizing the value of a good work/life balance
  • Ongoing employee coaching and development
  • An environment in which employees understand how their individual contributions affect the company’s financial performance

With these elements in place, employees are far less likely to leave and risk not finding a similarly vibrant environment elsewhere.

Cultivate transparency. One common complaint among employees is that they lack any access to how decisions are made by their employers. No one’s demanding “top-to-bottom” transparency on all key strategic and financial decisions, but sharing specific financials and outlining how a decision was reached to launch a new initiative, for example, “promotes a culture where everyone is treated like an adult who has something to contribute,” notes Mary Martinez at GoCo. A transparent workplace “will engender feelings of worth and value among all your employees.”

Want additional insight? Download Easy Ways to Improve Your Company Culture

DOWNLOAD

Foster a spirit of collaboration. Work environments where people feel like it’s “every man for himself” will hasten burn-out and a severe drop in morale. Look for opportunities to get people in one department to work more closely with colleagues in other departments—or any type of large-scale project that requires employees to work as a focused team.

In that same respect, consider taking employees off-site for occasional team-building exercises where the emphasis is on friendly competition and opportunities to get better acquainted with others on the team.

Encourage employee training and development. This facet of a healthy culture is rapidly becoming a “must-have” among HR recruiters and those wanting to promote retention. Your best employees have a strong desire to improve themselves. It’s up to you and your business to encourage this desire by sponsoring and/or subsidizing work-related seminars, on-site visits by industry experts, classes at a nearby community college, etc. Employees who feel they’re acquiring new skills and knowledge are far less motivated to look around for a new position.

Recognize and reward outstanding achievements. Everyone likes to be recognized for their hard work. Such recognition can take the form of a simple “thank you” message from the CEO or more formal programs that salute individual effort in the form of a bonus, day off, special parking place and so on. These incentives frequently spur greater engagement in one’s everyday job.

Maintain a customer-focused approach to business. Your best employees work hard to provide good products and services to your customers. Invite their feedback and suggestions on ways to keep improving the quality of customer service from these “front-line” people. The business will benefit overall and, once again, you’ll see greater engagement among your workforce.

Want to retain your rock-star employees? Make sure they are treated respectfully and offered every opportunity to grow and become even better at what they do.

Need more ideas on setting the right company culture for your business? Find a TAB Board to get insights from non-competing business owners in your area.

Read our 19 Reasons You Need a Business Owner Advisory Board

DOWNLOAD

Written by The Alternative Board Worldwide

Related posts

5 Tips on Reducing Workplace Distractions
Feb. 12, 2019 | Posted by The Alternative Board Worldwide
These days, employees are faced with an unprecedented onslaught of workplace distractions, chief among them all the apps and digital sideshows that now pervade everyone’s consciousness. No wonder...
Leadership Part II: Why be a Boss when you can be a Leader?
Feb. 6, 2019 | Posted by Phil Spensieri, TAB York Region
In my past 30 years of business I have met thousands of business owners and while all of them have been the ‘boss’, not all of them have been leaders. How to be a better leader is a topic that comes...
A Quick Guide to Hiring a High Performing Sales Team
Jan. 29, 2019 | Posted by The Alternative Board Worldwide
A quality salesperson is vital to sales team success This individual is responsible for generating leads and closing sales, which translates into revenue-generating activities for your organization....
5 Common Recruiting Mistakes and How to Avoid Them
Jan. 24, 2019 | Posted by The Alternative Board Worldwide
You don’t need us to tell you—the goal of hiring talented, qualified job candidates is now a lot harder to achieve than it once was. Businesses are pursuing a wide range of strategies in order to...
Management Skills Part 1: Transitioning from Employee to Manager
Jan. 22, 2019 | Posted by Phil Spensieri, TAB York Region
In my work with business owners, many of them have expressed a desire to transition a certain employee to a more senior role at their company. However, this promotion sometimes doesn’t happen because...
Leadership Tips in a Time of Rapid Business Growth
Jan. 22, 2019 | Posted by The Alternative Board Worldwide
Solid leadership is critical during every phase of a company’s evolution. This is probably most important during a time when a business undergoes a period of rapid growth. According to serial...
A Guide to Securing a Small Business Loan
Jan. 15, 2019 | Posted by The Alternative Board Worldwide
Start-ups and companies in early growth stages often need an infusion of cash to keep their businesses afloat. It’s also true that more established firms can benefit from a short-term loan in order...
Why More Female Business Owners Are Joining Boards
Jan. 10, 2019 | Posted by Phil Spensieri, TAB York Region
It’s encouraging to see more women business owners joining boards. I’ve found that most women in management, specifically on boards, offer a different style of leadership and a fresh perspective,...
5 Leadership Traits that are essential for Business Owners and CEOs
Jan. 3, 2019 | Posted by The Alternative Board Worldwide
Do successful business leaders and CEOs exhibit the same qualities across the board? Generally speaking, the answer is “yes.” Specific personality and character traits can be identified as essential...
Planning Your Employee Recruitment Strategy for 2019
Jan. 1, 2019 | Posted by The Alternative Board Worldwide
Getting top-quality new hires isn’t something that happens by accident. Nor should such a recruitment strategy spring up only when an important position suddenly opens up. The key to assembling a...