Today’s savvy corporate leaders understand the importance of an engaged workforce. They all want the competitive edge that engaged employees give their business in terms of growth, profitability, innovation and customer satisfaction.
Many of these companies aspire to win the coveted Great Place to Work award sponsored by Fortune magazine. Nearly 1,000 applied in 2016. The companies are rated by a random sample of employees. About two-thirds of the survey deals with questions about overall job satisfaction, degree of cooperation with co-workers and manager’s credibility. The remaining one-third of the composite score is based on such considerations as pay and benefits, development options, diversity, hiring practices, etc. Once again Google was Number One overall.
The data has been sliced and diced in many ways because they provide a ready-made sample of companies who, at least in their own estimation, have understood the challenge of aligning their talent and their culture with their business and people strategies. This alignment, we know, is the basis for a successful organization that can thrive into the future.
Because of our focus for over two decades with clients in the field of employee engagement training, we pay special attention to what can be learned from the company rankings. What do the most successful companies do to deserve a place on the Top 100 Best Companies to Work? Certainly employee trust in the company’s management to lead well and fulfill their company’s mission is foremost. But pay and benefits are also consistently rated very high.
A critical indicator of employee engagement is that employees feel they are being paid fairly and in line with pay for similar jobs elsewhere. They like to know that they can have their fair share of company profits. They work hard and happily when they feel compensated for the work they do and appreciated for the role they play.
While standard health and medical benefits typically have a low correlation with employee engagement compared to other areas in the survey, what you offer employees outside of standard benefits can play an important part of positive engagement. These can vary widely from company to company and should be driven by the corporate values and organizational culture. For some, the idea of an in-house dry cleaning service has value while others appreciate having a workout gym on site. At LSA Global, we offer unlimited vacation, flexible working hours and an uncapped sharing of corporate profits …it all depends upon your talent management strategy and what your employees care most about.
The bottom line is that, for your employees to be engaged, you need to start with the basics by ensuring that your rewards and recognition policies are in line with what your employees expect, deserve and value.
Learn more at: http://www.lsaglobal.com/leading-for-employee-engagement/