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Is Your Company a Great Place to Work?

If you’re a company leader, you already know the importance of attracting and retaining great employees.  Yet while most people in management would agree that this is crucial to the success of an organization, there are differing opinions on how to foster a supportive and synergistic work environment.  Do great companies require perks like unlimited vacation days, free lunches, or gym memberships?  While these types of things are enjoyable, we’d argue that the following items are what really determine a great place to work:

  • Continuous Learning – Great companies invest in their employees.  This might mean bringing in external experts to conduct workshops, offering free college tuition, holding classes that further employees’ skillsets, etc.  Essentially, great companies foster and encourage growth.

  • Employee Appreciation – One of the main reasons that employees change jobs is because they don’t feel appreciated at their current place of employment.  At a great company, employees are recognized for the hard work that they do—this might mean a letter of thanks for a job well-done, an “Employee of the Month” award, or a coveted parking spot.  The point is that the appreciation doesn’t have to be expensive, it just needs to occur.

  • Regular Performance Appraisals – Some companies will go years without conducting performance reviews or giving salary adjustments.  When times are tough, it may not always be possible to give annual raises.  However, this doesn’t mean that employees shouldn’t be kept informed about how well they are meeting expectations.  Ongoing feedback is not only useful to employees, but to the company as a whole.

  • Supportive Environment – When something goes wrong, great companies use it as a learning opportunity, rather than seek to blame and criticize.  Good companies realize that risk is inherent in the business world and they don’t aim to punish those who tried and failed.