Company culture matters. A job for life and a gold watch no longer cut it; today’s most talented professionals quite right expect to be treated like human beings. For many, that means a work life that is not unnaturally cut off from ‘real life.’
Businesses that provide meaningful perks like decent childcare, wellness options, flexible working conditions, and heartfelt shared experiences such as retreats, perform better than those that don’t. They attract stronger talent. They retain the talent they already have. And everybody works happier and more productively together.
Their bosses probably sleep better, too.
If you consider your home business to be more than just a money-making machine, it is essential to look at those companies that are doing workplace culture right, and learn from how they treat their staff. A 2017 survey by Fractl ranked the benefits most likely to attract workers to a company. The top five benefits each appealed strongly to at least half the respondents, and were as follows:
- Better health, dental, and vision insurance
- More flexible hours
- More vacation time
- Work-from-home options
- Unlimited vacation.
However, demographic-specific benefits such as maternity and paternity leave and student loan assistance — which wouldn’t be relevant to everyone — were also highly rated. The survey also discovered that women are more likely to value free fitness benefits, paid parental leave, and day care, while men are most interested in team bonding events, company retreats, and — um — snacks.
But there is no denying the appeal of ‘headline’ benefits, either. Think of the industry giants who invite celebrity speakers or give staff the chance to beta test their cutting-edge gear. And it never hurts to allow dogs to accompany their life companions to work.
So which are the companies that are providing these benefits — and reaping the rewards? The Great Place to Work organization researches and lists internationally-recognized ‘good employers’ each year. These are companies that have already made it to at least five other ‘top employer’ lists, and it is specific to companies with 5,000+ employees, at least two-thirds of them abroad from the company’s home base.
To make better sense of these charts, employment experts resume.io have created a series of visualizations tracking the top-performing employers across the years 2011-2019. The graphics demonstrate how technology firms have led the way in creating pleasant and rewarding workplaces for their hotshots. More than a quarter of the “World’s Best Multinational Workplaces” during this period were tech companies.
Smart, driven graduates often have to make a tough decision whether to head for the tech industry or brave it in finance. This means that financial services employers also need to put up a good fight to win the best recruits. American Express and Daimler Financial Services are among the finance companies who repeatedly demonstrate a positive commitment to their employees.
How about those that don’t fare so well? E-commerce, retail, shipping, and telecommunications companies struggle to make the list. Each industry only has two representative companies in the graphics: for example, shipping is represented by DHL and FedEx, who are said to be great employers.
“Whether you’re a global manager or a marketing assistant,” says DHL, “driving a forklift or flying an aeroplane, we never forget that it’s you who makes us who we are.” The company’s HR policies are founded “on the two ‘Rs’ – Respect and Results.” DHL operates an annual employee opinion survey, and encourages diversity and self-development. The US body of DHL is rated “a great place to work” by 85% of its employees, against a national average of just 59%.
Treating your employees right is essential not just as a moral imperative but as good business sense. Since January 2018, there have been more job openings than job-seekers in the US, meaning that the best talent can truly pick and choose their opportunities. Of course, nobody knows quite how the coronavirus pandemic and its economic fallout will affect the market but, in times like these, employees need thoughtful, generous leadership more than ever. Have you asked your crew how they are getting on in the crisis — at work and at home? Have you made every effort to secure their job, and make them feel secure? Is there anything industry-specific you can offer to help them and their families in these difficult times?
The truly great employers are those who don’t just provide good benefits when everything is going smoothly, but who pull through for their employees in times of crisis.
