So let’s not get the wrong idea here. Corporate culture is being explored, entertained and implemented across industry sectors today at a rapid pace as a means to attract and keep talent. It’s important to note what it is and what it’s NOT. Corporate Culture gone awry tends to look a lot like throwing money at a hapless teenager hoping he will make better decisions because of it. It is NOT about giving employees a small pony or a keg party every Friday afternoon or even throwing a raise their way hoping things get better.
As a matter of fact, most of the research is clear stating that at the executive level, money is almost never a major factor as to why people take a job or leave one. Savvy corporate leaders know this. They know the secret – the one thing nobody says out loud because it’s hard to attach ‘data’ to it. Shhhhssh..
They know…, if you let people know you care about what happens to them, they will give you everything they have.
And what does that look like for employers? Well for starters, the outcomes look a lot like higher employee productivity, decrease in sick days, focused team building, increase in morale and the list goes on.. Do I have your attention? According to Matthew Kelly’s book, Dream Manager, a great majority of people in the workplace are ‘actively disengaged’ – a huge threat to the bottom line and retention. Other top reasons you would lose new hires – dual career challenges and family assimilation; both speaking to a lack of engagement. Connection is the key. Supporting a workforce to become the best versions of themselves, says Kelly, buys you loyalty which in turn, buys you retention.
So what does a good company culture look like? Study guys like SEFCU and CDPHP. Or smaller employers like Vicarious Visions. These guys are awesome. They get it. And they get it big time. SEFCU has instituted a wellness program that encourages people to be healthy – not some of the time, but ‘all’ of the time – it includes a state of the art gymnasium, basket ball court, saunas and shower equipped locker rooms. For those less likely to lift weights and agonize over crunches there is a walking track. And everyone who works there knows “Michael” (CEO extraordinaire) prefers they take the stairs to the elevator. Vicarious Visions has donuts and bagels on Friday. They have a younger workforce that won’t die as fast as the rest of us. They also have Pretzel day and mustache contests. CDPHP offers flex work schedules, tuition reimbursement and team building venues like Charity of Choice, which allows employees to engage in grassroots fundraising efforts and the annual CDPHP Workforce Team Challenge road race where 200 employees participate. So why would Mustache Day equal Retention? Think about it. It’s relationship building. They are engaged and working to have their employees engaged with each other. It’s connection and it’s fun.
The lines are blurred in the 21st century. There was a time you couldn’t put the words ‘fun’ and ‘work ethic’ in the same sentence without every corporate leader simultaneously lighting themselves on fire. The culture has morphed – it is no longer ‘work is work and home is home’. Employers are not just hiring an individual; they are participating in creating a loyal and highly productive employee.
The trend has been that employers heavily focus on recruitment efforts, putting big money behind it to get the best candidate to say ‘yes’. But only within the last 5-10 years have we been learning more that ‘retention needs attention’. And it doesn’t take much.
You don’t have to spend big dollars to let people know you value them. Sometimes you just have to tell them and then back it up by creating an environment that encourages a productive workforce. Those employers who are looking to hedge their bets with retaining valued employees are seeking tangible solutions to keeping the talent they have worked so hard to get. There are resources available now that didn’t exist ten years ago. You support what’s important to your workforce; you’re supporting the growth and reputation of the organization as a whole. This, believe it or not,… is retention.
To learn more unique ways to address employee retention click on…Tech Valley Connect or contact the author at [email protected]
Angela McNerney is President of Tech Valley Connect, an organization assisting newly relocating professionals and their families to assimilate into the Capital Region.
