Anyone can start a business and keep it running but a true leader understands that employee care and company culture not only keep the business running but also keep it successful and engaged leading to a much larger success in the long run.
Although company culture and employee care are already recognized for their importance, knowing more about the value of these elements can help you and your team to utilize your time in a profitable manner, improve care incentives, and transition your company into a better and stronger business model in a swift and effective manner.
With any aspect of a business’ progression, however, there are countless factors that you must address. From the demographic you choose to hire to the care you provide for your staff, the power of these business strategies is endless and the effects are completely positive.
How Do Millennials Affect Company Culture?
Simon Sinek once did an amazing speech on millennials in the workplace for Inside Quest, which discussed four key elements affecting modern millennials and why they feel a need to make a difference in the world, and want to feel appreciated and receive praise. Millennials are finally at the age in which they are able to receive high profile jobs and begin to make an impact on companies and the managers within them.
However, despite millennials being extremely positive in nature, there are some elements regarding their development that have ultimately led to a sense of entitlement that must be addressed early on by any company choosing to hire them. This entitlement not only affects millennial employees, but also the consumers that are now interested in products your companies have to offer.
For instance, as a property manager, attracting millennial occupants can be difficult, as they tend to want younger communities that are involved with one another and prefer apartments that encourage neighborhood engagement and green living. However, one aspect to recognize regarding this need for connection and interaction, and the way that these managers deal with the needs of millennials, is engagement tactics.
The four pillars of employee engagement are crucial when hiring a younger demographic. These pillars are collaborative relationships, supportive workplace culture, relevant feedback, and timely recognition. By creating a company culture that thrives on engagement and involvement in the community and the environment, you can ensure that your employees feel like they are actually making a difference. Furthermore, by supporting team building and work relationships as well as recognizing individuals for their hard work, you can ensure that this sense of entitlement and need for praise is addressed in a more positive and effective way.
In turn, you are subconsciously telling these young individuals that hard work leads to praise, helping in the community and work-related programs counts as making a difference in the world around them, and building connections as a team will help with workflow and progression in the company. From there, you can ensure that your expected level of productivity in work, even when you are dealing with situations such as moving or transitioning your business model, stay on target and your consumers remain pleased with your production times as well.
Why Is Employee Care So Important?
Employee care is one of the most crucial elements regarding retention. Every manager knows what it feels like to lose a quality employee over minor issues that could have been avoided, however, not all managers know how to ensure that this kind of a mishap never occurs again. Whether you are providing extensive health care programs for employees or even assisting them with their finances and debts, the way that you care for your staff will reflect in the work they provide.
Although it is common to give employees health insurance benefits, you can also help them in many other ways regarding their health. For instance, by improving the indoor air quality and keeping your offices up to health code, you can reduce the risk of individuals becoming ill and being forced to leave work or, even worse, sue for worker’s compensation and leave on bad terms.
Similarly, many companies have begun to supply their staff with gym memberships to promote the health of their employees as well as company activities and company medical rooms. Another way that companies are helping their employees (especially younger ones) is by giving them the assistance they need regarding their finances and debts. For instance, some companies choose to hire specific individuals to help their staff learn how exactly they can budget out their months and still be out on top in the long run. This helps these individuals to get the most out of their wages and, in turn, a successful employee is a productive employee.
On top of this, companies also often will help younger individuals deal with student loan debt they may be facing after graduating from college. By teaching them how to pay off student loans, companies can show these employees how to create a consistent and effective payment method while not breaking the bank in the process.
Lastly, companies have also begun to implement green technology and initiatives to help promote environmental health likewise. In turn, projects such as company gardens and carpooling have become extremely popular. With carpooling in particular, you are not only helping the environment but also ensuring the safety of your employees to an extent as well by reducing the amount of cars on the road. Similarly, company gardens help the environment but also promote the health of your employees by getting them outside and being active as well as eating natural vegetables instead of fattening foods during their lunch breaks.
Although these transitions regarding employee care may seem a little extensive at first, once implemented, they will not only allow your employees to be engaged but also feel as though the company itself cares about them and their health likewise. By doing this, you can create a happy and healthy workforce that actually wants the company to succeed and respects your leadership capabilities in the process.
How Can You Profit From Company Culture and Employee Care?
Both of these aspects of a business model can actually be fairly profitable in the long run. When the company culture and employee engagement are positive, employees feel as though they are being heard and, therefore, interact more in meetings and produce better work due to a reciprocation of respect they feel they must give.
Furthermore, by increasing incentives and improving culture in the company, your employees will also begin to finish work much quicker leading to less downtime and increasing production rates which then allows the company to move forward on clients they may not have been able to work with in the past due to large demands without enough supplies to reach them. In turn, by calculating working capital before implementing these new tactics and then reviewing the same calculations after the tactics are fully integrated, you can also see how effective these changes have been on the amount of money and costs it takes to complete these tasks as well.
Similarly, you can use data analysis software to review how these tactics have affected each and every aspect of your company and make even more changes in the parts that still could use refinement. In exchange, you can see exactly how your company is improving and also see any potential downsides ahead of time in order to prevent them from leading to negative effects on staff and workflow in the future.
On top of this, business intelligence is key for competitive advantage. Therefore, by reviewing this data in an effective way and using it to also improve upon your company and the culture and engagement you are integrating within it, you can create a business model that is not only productive and profitable but also ever-expanding and growing along with the team within it.
In the end, there is no doubt that caring for your employees and creating a culture they long to be a part of can significantly help your company’s profits and production times. However, these simple steps can help you to do it in an effective and proven way which will reduce the costs involved in implementing new techniques, software, and budget campaigns in the process. After all, in the extremely over-used and absurdly cliche words of every entry-level manager, ‘ there’s no I in team’.