The Great Resignation is affecting companies throughout the country. It’s become tough to find and keep talented employees working at your company. While it is easy to blame the economy or the fallout from people working during Covid-19, studies show another element that is at work: toxic workplace culture.
A recent Glassdoor study of companies in dozens of countries indicated that company culture is still a significant factor in determining whether an employee stays with a company or leaves. In fact, it’s even more important than compensation, according to the study. That study is similar to a Pew Research one that found compensation as the main reason people leave jobs, followed very closely by employees feeling disrespected at work.
There’s no denying that company culture impacts whether employees want to stay. It is good to look at ways to reimagine and strengthen your workplace culture.
Here are some suggestions based on what companies are doing now.
1 – Start an open-door policy
All company executives should maintain open-door policies. Employees should feel empowered to come to you whenever they have an issue with a coworker, a customer, or another executive.
Open-door policies foster an environment of trust and communication, which is vital for long-term employee satisfaction. If your employees feel they can come to you with anything, they’ll also feel better working for you for years to come.
2 – Prioritize the work/life balance
These days, the best company executives understand that employees have lives outside of the office. That was reinforced many times over during the days of people working remotely in the pandemic.
You can improve workplace culture by prioritizing a work/life balance that suits your employees. A good work/life balance improves company culture by:
- Showing employees that you care about them
- Allowing employees more time for their families and careers
- Helping ensure that employees come to the office each day with enough energy to do their best
Overworking employees or acting like they don’t have families and lives outside of work is a one-way ticket to high employee turnover.
3 – Lean into diversity efforts
Diversity, equity, and inclusion (DEI) is a crucial area of focus for many companies today. It is essential for product creativity, eliminating unconscious bias, and workplace culture.
As you hire employees, you need to ensure that your DEI efforts are working. Good DEI efforts ensure that employees don’t face unfair mental health issues and don’t feel singled out or biased against.
One way to improve DEI efforts in your organization is by having groups of people from different backgrounds and generations share their expertise and experiences to help figure out what the future will look like in your company. Your team will get feedback from everyone, learn about the younger generation’s expectations, and form ideas together that can be used to build a positive culture.
4 – Help for families
The pandemic shined the light on many issues in our work culture. For example, families found it hard to find quality childcare. Some employees were left to find ways to work and care for their elders.
There are quality benefits available that can elevate your work culture if you offer them. Those benefits include:
- Extended leave policies – If an employee has to take care of a child or a parent under difficult circumstances, knowing they have time provides some security.
- Flexible schedules – Letting your employees set their hours could help many of them who are balancing work and life responsibilities right now.
- Remote or hybrid work options – Employees want to work remotely, especially considering the Covid-19 pandemic.
5 – Better benefits
It’s also a great time to rethink your employees’ benefits. It’s no longer enough to give stellar workers a free cup of coffee once per month. To motivate your employees and make your workplace a great company to work for, you need perks like:
- Wellness programs
- Paid time off
- Retirement programs like 401(k) accounts
- Mobility solution packages like micromobility transportation or commuter benefits
- On-demand pay so employees can get their earnings immediately
- Meal benefits to help employees eat healthy
- And more
6 – Team social events
It is also a good idea to host regular get-togethers or social events. Everyone in the office can meet up at a local bar or restaurant or participate in an activity like a hike. That improves workplace culture by facilitating social bonds.
Don’t let your workplace culture become dated and unimaginative. Now that employees are returning to the office, it’s the perfect time to make changes that will ultimately help you attract and retain great people.
Do you need help improving your company culture? Edenred has several programs that will fit into any workplace. Schedule a meeting today, and we’ll be happy to review all your options with you.