Which Companies Retain Employees the Best?
In 2015, it’s hard enough to get top talent through the doors, but retaining them—that’s a whole other challenge. Today’s top talent expects a return for their skills. It’s broader than just more money and compliments. They’re looking for the whole enchilada. Not surprisingly, Airbnb, Bain & Company, and Guidewire—the top three companies based on the employee-nominated 2016 Glassdoor’s Employees’ Choice Awards heard the call and answered. Let’s talk about the four traits these organizations brought to the table that earned them their bragging rights.
Talented individuals not only want to get in the door, they want to progress within the company. In fact, a Bain & Company employee applauded their employer for its learning opportunities and growth. To do this in your own company, create development goals that meet the organization’s needs while empowering employees to grow within the company. Considering that the average time an employee is at a company is 4.6 years, companies have to engage with their workforce to keep them in their stable.
Compensation and Benefits
It’s not always about the Benjamins, but the best and brightest are looking for fair compensation. Of course, money is not the only form of compensation. In a recent article, CIO explains that employees also seek benefits like flexible workdays, lunches, and health packages. In fact, on a Glassdoor review, one Airbnb employee, cited access to healthy meals daily, travel credits, PTO for volunteering as being perks of the job.
Culture and Values
In a world where branding is incredibly important, employees want to be aligned with their company’s core values. Culture is important not only because it attracts a strong workforce, but also because it plays a part in the goals of the organization. Think of workplace culture as the vision of the business. In a company that values workers for their contribution to the business, employees experience high morale and a positive attitude toward the organization. Workers with a positive attitude are loyal to the organization, which reduces employee turnover.
Quality of Senior Management
They say that employees don’t leave jobs—they leave managers. We’ve all felt the burn of a micromanager. Top workplaces like Guidewire adopt leadership roles instead of its managerial counterpart. On one Glassdoor survey, Guidewire was praised due to upper management trusting their employees. There is a significant distinction between leaders and managers. One inspires and fosters innovation whereas the other is more of an overseer. Leaders are what keep employees around.
Today’s workers are savvy. They understand their worth to an organization and expect potential employers to pull out all of the stops. Creating the ultimate workplace environment reduces turnover while increasing your company’s brand. The companies on the this list have resumes coming in by the truckloads because applicants are aware of how amazing the culture is. So in 2016, see if you can make culture your company’s competitive advantage.