Invest in Your Culture to Improve Staff Satisfaction and Company Success
Studies have shown a direct correlation between the happiness of employees and overall business productivity. Keeping motivated, productive and satisfied employees may seem like a challenging task but if approached with the proper attention, it can undoubtedly improve business success.
Common ways to keep employee satisfaction and retention rates high include keeping compensation packages competitive and offering flexible work schedules. In addition to the compensation benefits, investing in company culture is great way to increase your employee satisfaction, their happiness and their productivity. At IT Solutions we’ve come up with several ways to reward our staff on an ongoing basis that we share below--and we want to know what you are doing, too.
- Employee Stock Ownership Plan (ESOP): While personal accountability and attention to detail have always been important at ITS, the ESOP provides a vehicle for long-term rewards through real stock ownership in the business. With an ESOP in place, employees are more motivated to deliver the best service every day because they know it directly contributes to achieving company goals and profitability as well as their personal bottom line. The ESOP has proven to be a catalyst for enhancing employee productivity, staff recruitment and retention, and increasing morale because everyone benefits from adding a new client, keeping an existing client satisfied, or improving a process.
- Open Book Management: The basis of open-book management is to share financial and critical data with all employees not only to help them do their jobs effectively but help them understand how their individual jobs influence the company as a whole. Keeping employees well informed about the overall health and stability of the business builds trust and reinforces the ownership mentality. Sharing such data and communicating in this fashion empowers employees to think like and make decisions like an owner. Combined with teaching the rules of the business to all the employees and how they should apply these principles when making decisions motivates staff to be cognizant of the financial health of the business at all times and how their performance impacts the bottom line.
- Quarterly Meetings: Holding regular all-staff meetings is important to keep everyone on the same page and is essential to our success. At the end of each quarter we meet to review performance, discuss areas for improvement and present stories of success. During the meeting we recognize employee anniversaries, exceptional employee performances, review company policies and address company news. Team-building break-out sessions are incorporated to gain employee feedback and new ways to improve business processes. This face-to face meeting has become an essential part of our company culture. Employees leave the meeting feeling a sense of belonging, accomplishment for their hard work, and excitement for what’s in store in the months ahead.
- MVP of the Month: At ITS no good deed goes unrecognized. Through our MVP of the Month program, staff members are encouraged to nominate each another based on outstanding performance. From staying late to help a co-worker, to improving internal processes, to receiving exceptional client feedback or surpassing weekly sales goals, we encourage employees to publicly recognize each other’s extra efforts. Based on the nominations, a winner is chosen for MVP of the month and receives a generous prize. This positive reinforcement program motivates the staff to go the extra mile.
- Corporate Outings and Events: Everyone works hard and at times feels stressed from working long hours. It can be tough to find time during the work week to socialize with co-workers, especially those who you do not work with directly. At ITS, we set aside one evening per month to just get together, relax and socialize with fellow co-workers. Whether we attend a sporting event, host a company game night at the office, or a happy hour --this has become an integral part of our company culture as it encourages staff to get out from behind their desks, facilitates bonding time and builds camaraderie.
- New Employee Recognition: At ITS we welcome new hires with open arms. Our newest staff members are greeted with a new employee announcement and a welcome cake for the entire staff on their first day. We want them to know we’re excited to have them on board and bestow a more comfortable transition into their new position. Highlighting their work history and hobbies provides a connection around common interests and good conversation starters to help ease the transition.
- Community Involvement: At least once a year our staff volunteers their time to give back to our community. The past couple years IT Solutions has partnered with Habitat for Humanity to support its mission to eliminate poverty housing in the local community. Participating in community service like this is a great team building initiative and gives employees a chance to work together to make a difference for our less fortunate neighbors.
We know there are a many creative ways to build company culture and we would really like to know how other companies are facilitating positive environments.