Some leaders truly recognize that they cannot achieve their business goals without an actively engaged, purpose-driven workforce. In the book Everybody Matters: The Extraordinary Power of Caring for you People Like Family, Bob Chapman and Raj Sisodia demonstrate why it is important to put people above profits. Chapman tells the story of how they created a workplace at Barry-Wehmiller where people feel trusted and cared for.
Why is it important?
With a strong economy and unemployment at its lowest rate in 50 years, businesses are finding it hard to attract and retain top talent. Gallup reports “51% of employees are actively looking for a new job or watching for new job openings.” The Work Institute reports that one in four employees will leave their jobs this year, at a cost of $600B to employers.
A highly engaged workforce means the difference between a company that outperforms its competitors and one that fails to grow.
People-centric workplaces are good for the bottom line. According to research by Great Place to Work, people-centric workplaces positively impact growth and profit. “Organizations with a thriving workplace culture tend to grow significantly faster than peers, and the ‘best’ companies that we study year after year offer valuable lessons on building an organizational strategy that puts employees at the center.”
Employees at the center – show you care
Attracting, engaging and retaining employees may feel like a daunting task, especially if your organization’s current culture isn’t a supportive one. Here are a few ways to begin creating a people-centric workplace:
- Purpose-Driven Culture. Think purpose doesn’t matter? Net Impact found that almost half of today’s workforce would take a 15% pay cut to work for an organization with an inspiring purpose. When employees connect with an organization’s overall purpose, they experience increased motivation, performance and job satisfaction. Show you care for your people and the greater good by creating a purpose-driven culture where employees feel connected to the impact your organization is having in the world.
- Physical Workplace. The physical workplace can be a positive aspect of employee experience or a daily downer. In a recent conversation with Dak Kopec, Associate Professor of Architecture at the University of Nevada – Las Vegas, we discussed looking at workplace environments with the interests of employees in mind and uncovering what helps them work at their best. Show you care by creating workspaces that inspire, engage, and make people feel good.
- Coaching Culture. Antiquated performance appraisal systems have been replaced with coaching cultures. Coaching cultures help nurture and grow talent, making employees feel acknowledged, validated, and supported. Show you care by dumping the performance appraisals and having conversation with your employees.
We all want to feel like we matter. Caring and trust are essential aspects of a positive employee experience. Creating a people-centric workplace will have long-lasting and powerful impact on your organization.