7 Key Characteristics That Make a Company a Great Place to Work
We are going through the ‘Great Resignation‘ where employees are leaving their jobs in search of better and more fulfilling opportunities.
That is one reason, 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 7 key attributes that are essential for making a company a great place to work.
7 key characteristics that make a company a great place to work
We went through several reports and case studies to figure out the key attributes that make a company a great place to work. The following 7 characteristics turned out the be the most common –
1. A company culture that cares for employee well-being
Creating a ‘people-culture’ is one of the most crucial components of building a sustainable business.
Employees are more likely to stay associated with a company that cares for their well-being. Similarly, employers are more likely to cut down their attrition rates by adopting an employee-centric culture. 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.
These are a few steps organizations can take to promote employee well-being –
- Create employee well-being programs
- Respect uniqueness and diversity of all employees
- Listen to employee feedback
- Be proactive in taking employee welfare initiatives
- Establish a transparent communication channel
2. Giving employees the flexibility they seek
Another easier way to improve employee satisfaction and productivity is to offer them workplace flexibility.
A study by ManpowerGroup Solutions suggested that as much as 40% of job seekers worldwide consider schedule flexibility as one of their top 3 factors in making career decisions.
The study also highlighted that workplace flexibility is no longer just an option but an essential practice if companies want to attract skilled talent.
Workplace flexibility can –
- Boost employee morale
- Reduce stress levels
- Offer employees a better work-life balance
- Build trust and commitment in the workplace
- Boost productivity
Moreover, workplace flexibility is not only about giving employees schedules that best suit their needs or allowing them to work from home on certain days. It also includes other work arrangements like –
- Flexibility in arrival and departure times
- Location independence or permanent work from home
- Choice in terms of work shifts
- Part-time work from home
- Extended time off or career breaks
- Caregiving leaves
- Paid time off
3. Investing in employee training and development
A great workplace is defined by its willingness to invest in the training and development of its employees. Such companies make time for growing the talent and capabilities of their workforce. They encourage employees to participate in various career development and skill development programs.
There are numerous benefits that companies can reap by investing in employee development programs, but ultimately, such programs ensure that organizations have the best possible workforce on hand. Well-trained and capable employees mean they are more capable of serving the company’s customers.
Other key benefits of investing in employee development include –
- It helps attract great talent
- Improves employee performance
- Boosts employee engagement
- Creates future leaders
- Boosts employee job satisfaction
- Improve skills and knowledge
4. Investing in employees’ health and wellness
A healthy workforce means a happy workforce. So, a little investment in employee health and wellness can go a long way.
Not only the mental well-being, but great workplaces also care about their employees’ physical well-being. They offer wellness options to help employees develop a healthy lifestyle. They also offer an array of extra benefits like health insurance.
Some key benefits of investing in employee well-being include –
- Employees feel appreciated and valued
- It saves a lot of valuable time by cutting down on sick days
- Makes employees proactive
- Boosts the reputation of companies
- Improves employee retention
5. 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. They can also include things like commissions, bonuses, employee stock options, or other benefits that complement a base salary.
Here are a few tips on how companies can ensure that their employees feel fairly validated –
- Have honest conversations during the recruitment process
- Understand market benchmarks
- Utilize salary surveys and research
- Use multiple perspectives
A competent approach towards employee compensation is important because –
- It ensures 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
6. Having a focus on innovation
For any successful company, innovation is at the heart of it. Innovation keeps an organization not only on top of its game but also inspires employees to push themselves to do great work and contribute toward the greater good of the company.
A culture of innovation also appeals to employees with higher levels of creativity and lateral thinking, helping companies hold on to their best talent.
Google is a great example. The tech giant utilizes staff-driven innovation to keep its people engaged, motivated, and happy.
7. Having inspiring leadership at the helm
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. These things might attract talent but if the leadership is poor, these employees would want to leave.
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 possess include –
- They communicate their expectations clearly
- While assessing talent, they look for qualities that fulfill the company’s vision
- They offer employees regular feedback to build trust and loyalty
- They create great opportunities for growth
- They develop meaningful relationships with their employees
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 observed in great workplaces.
Dresma is one such workplace that has employee well-being as its core value. Here we try to create an employee-centric culture where all team members can not only express their best qualities but also look forward to sharing a growth journey with us.
If you are a job seeker, looking for a fast-paced and high-growth career, you can check out the careers page to apply for the relevant opportunity.