Tag: Company Culture

The Importance of Investing in Employees

by jsl_web_admin

Written by: Natalia Valdivia

 

In the ever-changing world that we live, it is imperative for companies large and small to stay current on cultural trends, employees’ needs, and technological know-how in order to retain top talent. Companies are now focusing on, and understand the importance of staying ahead of the curve in order to keep their organization competitive.

 

Studies show engaged employees are 87% less likely to leave the organization than the disengaged, and companies with engaged employees outperform up to 202% better. 

 

Here are a few tips on how business leaders can invest in their organization’s future:

 

Recognize the Needs of Your Employees

Employees now desire a greater return for the time they spend at work (One-third of our entire lives are spent in a working environment). In addition to standard benefits like medical insurance and 401(k)s, we’re seeing that company culture and work-life balance are at the top of the list when prospective hires consider new positions.

 

It’s important that organizations showcase volunteer work, team building initiatives, and their employee-friendly culture to prove they are a good match. By recognizing additional needs like this, you are instilling a sense of pride in the company and positioning your organization to be “the ideal place to work.”

 

 

Provide Continuing Education & Leadership Opportunities

A top priority of employees in the workforce is continuing their education.  A great way to secure talent from your pool of employees is investing in their skillsets. Providing continuing education programs for your team or offering financial support for a degree that will help your organization improve is a win for all involved. In the travel and tourism industry, for example, associations such as AHLA and AHLEF are offering options for employees to help them grow in their careers:

 

“As part of the hotel industry’s long commitment to empowering its workforce, the American Hotel and Lodging Association, the American Hotel and Lodging Educational Foundation and Pearson have recently partnered to launch a new pilot program to offer women and men in the hospitality industry a cost-free degree.”  

 

By offering your employees a competitive edge in their education, you are showing them they are valuable.  This simple strategy provides great returns over the long run.

 

Offering leadership roles to your employees increases motivation and drive. Enable your team members to take on leadership roles, opportunities, and temporary assignments whenever possible. The travel and tourism industry, for example, provides endless opportunities for career development:

 

The hospitality industry provides an opening for anyone to truly develop a career, where you can start as an intern, commit to working hard and grow to become a senior leader in the industry. – Juan Corvinos, VP of development, Caribbean and Latin America, Hilton 

 

By empowering and challenging your employees with opportunities to prove their talent and potential, you are providing them with experiences and new skills that are irreplaceable.

 

 

Stay Ahead of the Technological Curve

 

“The only thing worse than training your employees and having them leave is not training them and having them stay.” – Henry Ford  

 

Lastly, encouraging technological fluency in the workplace is paramount for long term success. New innovations will allow your company to stay competitive. Tech knowledge, in general, is an important asset that employers should prioritize. It’s also important to make sure that your team members are equipped with the appropriate tools essential to the success of the team as a whole. Companies can now take advantage of training programs and apps that will provide learning opportunities and tips for their employees to stay ahead of the curve.

 

These efforts can lead to happier, engaged employees and overall better company culture. Research shows that happy employees greatly contribute to the future of a company. Making it a top priority for leadership to invest in their employees and overall company culture.

Investing in employees

 

By providing an attractive employee-focused culture and offering career development opportunities through training and financial support, companies can reduce turnover and build loyalty. Additionally, focusing time on technological education is a sure way to retain talent. In doing so, you are positioning for a positive return on investment in your employees and positioning your organization for success.

 

 

 

 

SearchWide Global is a full-service executive search firm primarily for companies in Destination Organizations / Hotels & Resorts / Venue Management / Experiential Marketing, Tradeshow & Exhibition / Industry Associations / Sports & Entertainment. Specializing in C-Level and Director level executive searches for companies ranging in size from Fortune 500 corporations to mid-sized public and private companies and associations. Founded in 1999, SearchWide Global headquartered in St. Paul, MN, USA and operates worldwide.

 

Are Work Perks Enough for Top Talent?

by jsl_web_admin

Written by: Nicole Newman

 

In today’s ultra-competitive job market with a low unemployment rate and high demand for the best talent, how can companies keep the best and brightest?  Sue Shellenbarger’s Wall Street Journal article “Why Perks No Longer Cut it for Workers” from December 2018 explains how the most successful companies are doing this by providing employees with a sense of belonging.

 

Sue shares that the companies offering growth potential, trust, motivation and career planning are more likely to retain top talent and post higher per employee profits than companies that don’t.  Creating a cohesive work environment, promoting from within and continued training account for high employee satisfaction and lead to employee loyalty.

 

Sue’s article shares that; “psychological safety: the freedom from the fear of being shamed or ostracized by others for voicing criticism or tossing out a crazy idea” encourages higher employee performance by allowing team members to take risks, innovate and solve problems.

 

The creation of cross-discipline and multi-generational teams that foster collaboration and a free exchange of ideas can provide employees an increased sense of ownership and pride within their organization.

 

According to Atlassian’s article “Have tech perks gone too far?” the top six traits that make for a stand-out workplace include a sense of purpose, risk taking, rituals that drive innovation and create a culture of discovery, transparency and autonomy, flexibility and the idea of “working open.”  These cultural imperatives, not perks, are what current and potential employees are taking into account when deciding to join, stay or leave an organization.

 

The WSJ article was shared on LinkedIn and gained quite a few comments with people offering their opinions.  Among the many, there were comments such as “never underestimate the significance of a company’s culture” and “the most successful companies give employees a sense of belonging,” showing us that this is both a desired and important attribute for employees.

 

It seems as though the tech industry and large companies are paving the way when it comes to creating innovative company cultures. For the travel, tourism and hospitality industries, it is more important now than ever before to create a culture that team members can relate to and be proud of.  Community involvement, open or alternative workspaces, the inclusion of team members at all levels in idea generation, accessibility to leadership, and fostering collaboration across the organization are just a few ideas to enhance your organization’s culture.

 

 

How does a company create a culture that attracts and retains the best and brightest?

 

 

We found there are many free resources online. The recent Forbes article, “Defining Company Culture: It’s About Business Performance, Not Free Meals And Game Rooms” dives deeper into creating a desirable culture. The author, Natalie Baumgartner suggests that employee perks can often be confused with company culture, or “…being used as a Band-Aid solution to cover up a lack of defined culture.”
In fact, research shows employees value culture and career growth almost twice as much as they value compensation and benefits when selecting an employer.

 

Company Culture: A Complete Guide for 2019 offers specific elements to achieving a positive culture such as company values and employee engagement. It states, “To put it more simply, culture is the way things work in your company – engagement is how people feel about it.”

 

An astonishing 87 percent of organizations cite culture and engagement as their main challenges, according to a report by Deloitte.

 

While there is no “right” answer for every organization, creating an inclusive and empowering workplace culture is highly more likely to attract and retain top talent.

 

 

 

SearchWide Global is a full-service executive search firm primarily for companies in Destination Organizations / Hotels & Resorts / Venue Management / Experiential Marketing, Tradeshow & Exhibition / Industry Associations / Sports & Entertainment. Specializing in C-Level and Director level executive searches for companies ranging in size from Fortune 500 corporations to mid-sized public and private companies and associations. Founded in 1999, SearchWide Global headquartered in St. Paul, MN, USA and operates worldwide.