We often hear the term ‘corporate culture’ in our office or corporate life. Companies around the globe, especially in South East Asia are focusing on building strong workplace and corporate culture. 88% of employees believe organizational culture is an important aspect of their work life. Gone are the days when the conventional workplace ethics and consulting methods work. Now is the time to adopt a more dynamic workplace culture.
A well-defined employee retention methods will have a positive and significant impact on the turnover rate of your organization.
According to the Leigh Branham, the Strategic Planning Consultant, more than 70 percent of the managers tend to think that it is the pay that causes an employee to leave. On the contrary, about 88 percent of the employees tend to leave respective jobs not only because of pay but also other factors that may include:
- Employees often feel the workplace or job doesn’t match their expectation before joining the firm.
- A mismatch between the job and the skills held by the employee.
- Minimal coaching with no feedback for the same.
- Minimal advancement or growth opportunities.
- Employees feel devalued or unrecognized.
- Minimal work-life balance that causes stress.
- Loss of confidence or trust in the senior leaders.
Today’s workforce looks less and less like it used to. 95% of TAFEP’s 2014 survey said that they work in multi-generational teams, that has members aged anywhere between 18 to 70.
Let’s face it – humans were not built or meant to be robots. We were not made to be repeating the same things over and over again. Rather, we were meant to innovate and improve processes as time goes by.
The concept of employee engagement is nothing new -- it’s been floating around for decades. Most firms know that engaged employees stay longer, strive to work harder and produce more.
When it comes to creating employee engagement, 87% of organizations cited it as being one of their top priorities. An estimated 66% of companies survey their people regularly. Yet, in their 2017 global study, Gallup finds that only 15% of employees are engaged at work.
[This post was originally published in Forbes on 9 Jun 2017]
We’re all familiar with Spider-Man’s famous catchphrase: “With great power comes great responsibility.” However, his words no longer apply exclusively to the man who does whatever a spider can.
The 360 feedback performance evaluation mechanism has the potential to help you overcome your hidden weaknesses and put your business on the fast track.
If you’re a business romantic like me, you’ve probably read books on corporate culture like Delivering Happiness, Anything You Want, and Onward with rosy eyes and a longing spirit. We’ve all heard plenty about how Zappos, Google, and Southwest are dreams to work for because of their stellar company cultures.