Benchmarks & Trends

When Employees Thrive, 카지노 커뮤니티 추천 More Than Triple Their Stock Market Performance

2025-04-02T06:00:41-04:00

Here’s what investors should consider about the employee experience.

카지노 커뮤니티 추천 that make the Fortune 100 Best 카지노 커뮤니티 추천 to Work For® List consistently outperform the market by 3.50 times, over a 27-year period, according to FTSE Russell, the global index and data provider.

FTSE Russell looked at decades of market data and developed a hypothetical index using companies that make the annual 100 Best list compiled by Great Place To Work® since 1998. FTSE Russell analyzes the annual returns of the publicly traded companies on the list and compares those results to other market benchmarks.

The result? If you had invested in 100 Best 카지노 커뮤니티 추천, you would more than triple what a similar investment might have earned in another portfolio.

“As a general rule of thumb, if you can outperform by 2% to 3%, that's considered quite noteworthy,” says Ryan Giannotto, manager of equity index research at the London Stock Exchange Group, which produces the Russell 1000, an index of the biggest U.S. stocks.

“A cumulative 27-year outperformance factor of 3.50 is incredible. This analysis gives credence to the contention that employee experience contributes to market returns.”

While backwards looking data is no guarantee of future market success, the research offers a compelling case for considering the employee experience in an investment strategy. Just one year of overperformance might not tell investors much, but 27 years of performance demonstrate a proven pattern.

“This is why investors do not look at just a one-year return,” Giannotto says. “They look at a comprehensive history of return because they want to see how a company performs in different market conditions.”

Even more impressive, the 100 Best benchmark overperforms without relying on the Magnificent Seven, companies that include Meta, Google, Apple and others, and that are responsible for most of the top-heavy growth in the market. “For the 100 Best to get competitive market returns without all those trillion-dollar market cap company names is very impressive,” Giannotto says.

The value of company culture

What are the metrics investors can use to understand if a company has thriving employees and a high-trust culture?

카지노 커뮤니티 추천 that routinely make the 100 Best list have some common characteristics that offer helpful guideposts. Here are some of the metrics that set the best companies apart, according to Great Place To Work analysis:

1. Employee retention

카지노 커뮤니티 추천 on the 100 Best have two-thirds less turnover compared to the Bureau of Labor Statistics average. While the gaps are more meaningful in some industries compared to others, the overall trend is for high-trust workplaces to hold onto more of their workers.

Even when faced with layoffs, companies need to hold onto their best employees. When employees leave the company, they take their relationships, institutional knowledge, and future contributions with them. That’s why employee retention is an important indicator of future company performance.

2. Employees’ psychological and emotional health

At the 100 Best, 81% of employees report a healthy workplace, compared to just 56% at typical U.S. companies, a difference of 45%.

When you don’t have a healthy work environment, innovation and productivity suffers. Psychological safety, or how employees feel about taking risks in the workplace, is a key element of an innovation culture.

Investors might want to consider how a company is creating a culture where employees can generate new ideas, develop new skills, and push themselves to new levels of performance.

Great Place To Work research found that employees are twice as likely to want to stay in their job when they have a psychologically healthy workplace. They are also three times more likely to recommend your workplace to others, according to a survey of 1.3 million U.S. employees, helping attract the talent you need to solve the toughest business challenges.

Well-being even has a proven impact on core drivers of business performance, such as customer service. Employees are 48% more likely to say their company offers excellent customer service when they also have high levels of well-being.

That indicates a potential competitive advantage for investors who identify companies that are giving their employees space to thrive outside of work.

3. Discretionary effort

Performance matters, and the great companies on the 100 Best list are no exception. At the 100 Best, companies on average have revenue per employee that is 8.5 times higher than the U.S. market.

But it matters how you get that performance bump.

These companies have found ways to get more from their workers by investing in their growth and development — and then reaping the rewards. Eighty-five percent of employees at the 100 Best report giving extra effort at their job. Only 60% of workers say the same at a typical workplace.

The stock market gains of the 100 Best over 27 years prove the value of a long-term approach to productivity and performance. The companies on the list can boast sustained performance because their workforce strategy is sustainable.

When evaluating the health of a company, it’s crucial to get employees’ perspective.

Are workers really invested in the company’s mission and bringing their full set of unique gifts to bear on behalf of their organization? Or, are those productivity numbers just smoke and mirrors that mask a deeply unhealthy culture — where employees cut corners, fudge the numbers, and fail to report errors in fear of retaliation?

If you listen to employees, you’ll get a different data set on the health and potential performance of a company.

Whether or not you use that data to guide your investment strategy? That will be up to you.

See how your company performs

Get started with 카지노커뮤니티™ to see how your employees are contributing to the bottom line.

Note: Returns shown are hypothetical and for analysis purposes only. Past performance is no guarantee of future results. Charts and graphs are provided for illustrative purposes only. Index returns shown may not represent the results of the actual trading of investable assets. Certain returns shown may reflect back-tested performance. Back-tested performance is not actual performance, but is hypothetical.

Creating a Culture of Recognition: Tips for Driving Loyalty

2025-02-26T06:00:00-05:00

Employee recognition is a method of support that helps employees know their contributions are recognized and appreciated. Employees want to know how they are doing and recognizing employees demonstrates what success looks like. 카지노 커뮤니티 추천 recognize employees for going above and beyond, achievements, tenure or service, or desired behaviors.

Why and How To Build Trust in the Workplace

2025-01-08T07:00:50-05:00

The three essential elements that all great workplaces have.

You might have several theories about what makes an organization a positive place to work.

Happy employees are surely those with inflated paychecks and unmatched benefit programs. Perhaps they get a share of company profits in employee stock ownership plans, or have ditched traditional hierarchy for a more equitable “flat” structure.

You’d be wrong.

Trust in the workplace

The employee experience isn’t fundamentally determined by whether a company is privately owned or publicly traded, whether its workers are hourly or salaried, or whether a company writes software in Silicon Valley or manufactures automobiles in Michigan.

The key ingredient is deceptively simple: trust. Do your workers trust you?

Discovering the magic ingredient was the result of thousands of hours of interviews and focus groups conducted by the founders of Great Place To Work® in developing its Trust Index™.

“For pretty much every theory we had, we found consistent exceptions,” says Sarah Lewis-Kulin, vice president of global recognition at Great Place To Work. “What we didn’t find an exception for was trust.”

The Great Place To Work Model

What builds trust in the workplace?

Trust can feel like a squishy word, even as it becomes more and more recognized as an essential business asset. Edelman’s annual Trust Barometer shows the way trust in institutions like the media and government can have profound implications for markets.

But what does it mean for employees to experience trust? Telling them to trust you doesn’t work. You have to build a high-trust culture over time.

According to Great Place To Work research, such a culture is built on three components:

Credibility. Do workers believe leaders are competent, communicative, and honest?
Respect. Do workers feel respected both as professionals and individuals with lives outside of work?
Fairness. Do workers see the organization as a place where everyone has a fair chance to succeed?

“What we're really talking about is that everyone in the organization is treated with credibility, respect, and fairness … regardless of their job role, their gender, any race, ethnicity, or other demographic category,” says Lewis-Kulin.

For a workplace to be great, the employee experience has to be consistent for everyone. If only senior-level, male managers say they trust the organization while front-line employees or women in management are having a very different experience, that won’t build trust.

That’s why Great Place To Work introduced its For All™ model, where gaps between different employee groups are measured to identify how every employee feels at work — not just the majority.

The building blocks of trust in the workplace

How do great leaders cultivate credibility, respect, and fairness within their companies? Closing the “say-do gap” is crucial, as trust only develops when words are followed by action.

For any culture to develop high levels of trust, it has to start with leaders.

“You can't create a trusting organization without it being modeled as a value from the top of the organization,” Lewis-Kulin says. Otherwise, you might have a pocket of employees who trust each other, but they get their backs up when working with people outside their team.

Machiavelli might approve, but it’s no recipe for success in the modern workplace.

Here are some ways for leaders to start building trust:

Credibility

Communicate consistently and directly.
Ensure your public actions mirror the values you subscribe to internally. If your PR team, for instance, publicly proclaims that your company champions DEIB, but employees aren’t experiencing an inclusive culture, they’ll view your actions as hypocritical.
Demand that public value statements match the internal experience of employees.
Make sure that communication goes both ways— listen to your people as much as you share information with them.
Take tangible actions every time you ask and receive employee feedback.

Respect

Create a culture that supports employees’ work-life balance, allows them to use PTO and flexible schedules offered, and acknowledges their lives outside of work. And don’t forget to set a good example yourself.
Show genuine interest in who your people are and what matters to them outside of work.
Show appreciation for employees’ good work and extra effort.
Provide development and training programs, give employees time to do them, and reward employees who complete them.
Ensure everyone can bring their full selves to the workplace by focusing on belonging and inclusion.

Fairness

Review compensation and close any pay gaps for employees doing equal work.
Add seats to the board of directors to ensure marginalized voices are heard.
Analyze workplace well-being programs to ensure they serve the needs of all employees.

7 ways to build trust in the workplace

Once your organization is committed to building trust, your leaders must develop an action plan to transform your culture. A great place to start is with the Great Place To Work Trust Index, which provides unmatched insight into the experiences of your workforce. Based on your data, you might consider focusing on one of the nine high-trust leadership behaviors that our research shows make the biggest difference in building trust.

Here are seven ideas for applying those principles to your workplace:

1. Make sure every employee has the chance to share their feedback with leaders

Listening is the foundation of all the high-trust leadership behaviors. Poor listening is one of the most likely culprits for a breakdown in trust, and the best organizations go to great lengths to ensure every employee’s voice is heard.

Employee surveys are a great place to start, but the best companies also host listening sessions with top leaders, engage with employee resource groups (ERGs), and even make employee listening a dedicated job within the HR function.

Top tip: Consider how different job roles in the organization experience communication from leaders. Can you bring frontline teams off the floor to participate in a brainstorming session with your leaders? Is there a team that never meets with the C-suite? The best companies find ways to make sure every employee, regardless of role or job level, has a chance to share their ideas.

2. Find ways for every employee to be recognized for their contributions to the organization

Thanking employees for their unique contributions is a crucial way to build trust. The best companies don’t just recognize one employee of the month. They ensure every employee is visibly recognized and celebrated even when a project ends in failure.

To do this right, leaders must get to know their employees on a personal level. What are their unique passions and talents? What are their career goals? The best expressions of gratitude are personalized to the recipient and are a consistent affirmation of their value to the business.

Top tip: Connect recognition programs to specific examples of how employees can live the values of the organization. Use recognition to connect employees with your mission, and help them find meaning in their work.

3. Provide training and development opportunities that help employees build meaningful careers

Employees expect to have opportunities to learn and grow at work. Nine in 10 (91%) respondents to the 2023 Work In America Survey from the American Psychological Association said it was very or somewhat important to them to have consistent opportunities to learn.

Helping employees learn new skills and develop their careers is a powerful way to build trust and boost business performance. The best leaders are mentors and coaches, finding ways to open doors and challenge their direct reports with new projects and opportunities.

Top tip: Identify employees by their skills, not their credentials or education. 카지노 커뮤니티 추천 can create libraries of skills and use technology to match employees with those skills to open projects and roles within the organization.

4. Prioritize employee well-being with investments in flexibility and health programs

Employee well-being has declined to pre-pandemic levels. Great workplaces are responding to this trend with increased benefits and renewed commitments to flexibility and balance. When leaders demonstrate care for their workers, they focus on creating inclusive and welcoming environments. They ask about the individual needs of employees and launch programs to cover gaps that are causing unnecessary stress.

Top tip: Consider how your workplace can address external factors that are causing problems for your workforce. Can you invest in the community, sponsor child care services, or promote a healthier environment near where your employees live?

5. Go beyond compensation to ensure every employee gets a fair share of the rewards for business success

Fair pay is an important place to start, but compensation is not the only reward that employees value from their work. Recognition, learning and growth opportunities, and charitable activity can also be highly valuable to employees and can create a sense of unfairness when some employees are left out.

Great leaders make sure every employee can share in the benefits of working for a successful business. That means ensuring employees have equal access to information and roles that are structured to allow them to participate in the full range of company activities, from social gatherings to charitable events.

Top tip: When considering fairness, make sure you are measuring the right metrics that capture the full experience of employees. Invisible dynamics in your organization might be creating an unfair system, and correcting measurement mistakes is the first step to fixing those issues.

6. Make sure new employees receive a warm welcome when joining the organization

You never get a second chance to make a first impression. Onboarding is a crucial part of the employee experience, and poor execution can dramatically impact trust for new employees.
This starts with the recruiting process, where experiences with hiring managers can set expectations and send important signals about how welcome a new employee is to bring their authentic self to the organization.

Top tip: Go beyond the handbook for orientation. Send new hires a welcome note and start getting them integrated into your culture before their first day. Pair new hires with a buddy other than their direct manager, and find ways to connect new hires immediately with important groups in the company, such as ERGs.

7. Connect every employee to your purpose as an organization

Meaningful work is a crucial driver of the employee experience and makes a big difference in how likely you are to want to stay with your company long-term.

The best companies make sure that every company has the opportunity to experience the impact of their work on the world, whether that is meeting with a customer or testing a new product. This sense of purpose then contributes to the pride employees feel in their workplace.

Top tip: Engage frontline managers early and often to ensure they are helping their teams connect to the big picture. When frontline managers are not clear about the direction and mission for the company, the business is less likely to experience the benefits of being a purpose-driven workplace.

The business case for trust

The good news for leaders is that building trust has an unmistakable impact on financial performance for organizations across industries.

According to independent investment firm FTSE Russell, cumulative stock market returns outpace the market by a factor of three for publicly held organizations on the Fortune 100 Best 카지노 커뮤니티 추천 to Work For® List.

The data is clear: 카지노 커뮤니티 추천 that invest in their workers deliver stronger financial results over the long term. Even better, those companies have the resilience to ride out economic downturns. Great Place To Work research shows that companies that supported key employee groups were able to grow during the Great Recession from 2008 to 2010, and have vastly outstripped the competition in the decade since.

The outcomes of employee trust on the bottom line are undeniable:

High-trust cultures have half the attrition turnover of industry competitors
High-trust cultures have accelerated rates of innovation
High-trust cultures see more employees go above and beyond to deliver for clients and customers

Take your first step towards a healthier company culture with Great Place to Work’s research-backed engagement survey.

Purpose at Work Is Only Profitable if You Do This One Thing

2024-05-17T15:31:44-04:00

When it comes to business performance, purpose in the workplace matters – but only if it comes with clarity.

Purpose over profit.

It’s a phrase that’s become the rallying cry of so many businesses in recent years, as consumers demand better of the brands they buy from, and employees and job seekers demand better of their workplaces.

This has especially been the case since the pandemic started. Two-plus years of uncertainty, anxiety, fear, and isolation have put purpose and company culture even more top of mind. People want to buy from, and work with, companies that reflect their personal values.

And brands are certainly responding – companies like Patagonia, Lego, and Ben & Jerry’s have marketed themselves as synonymous with corporate responsibility. But the question remains: Does purpose at work really lead to better business results?

Answer: It depends.

The data behind purpose at work

To find out, Harvard Business School (HBS) used Great Place To Work®’s extensive database on employee engagement, to determine if all the resources companies put towards purpose are, in fact, driving better business results.

HBS used Great Place To Work’s sample of 429 U.S. companies, and more than 450,000 employee survey responses, to create a measure of corporate purpose. Employees were asked to agree or disagree with statements such as:

“I find my work is meaningful.”
“I feel good about the ways my company gives back to the community.”
“I’m proud to tell others I work here.”

These employee surveys did not go into the type of purpose the company was pursuing (i.e., environmental, social justice, etc.), but merely whether the goal resonated with employees.

What they found might surprise those on the purpose bandwagon: A sense of purpose at work alone isn’t correlated with firm financial performance.

What is correlated, and is the key to unlocking purpose’s potential, is clarity.

The clarity factor

From the initial data set, HBS performed a factor analysis and identified two types of companies with purpose:

High purpose-camaraderie organizations. These included high scores on statements such as “We are all in this together.”
High purpose-clarity organizations. These included highs scores on statements such as “Management makes its expectations clear.”

When it came to better business performance, only one group stood out: high purpose-clarity.

In fact, the study found that when employees experienced a sense of purpose at work and believed their leaders set a clear direction and expectations (purpose + clarity), those companies outperformed the stock market, achieving returns 6.9% higher than the market.

Middle management makes the difference

The research also revealed that it wasn’t top executives playing the largest role here, but rather middle managers and professional workers. When those two groups experienced purpose and clarity, companies’ financial performance jumped even higher.

The report explains, “This last finding underscores the absolute importance of fostering an effective middle manager layer within firms: managers who buy into the vision of the company and can make daily decisions that guide the firm in the right direction.”

Purpose at work: making it matter

Purpose does matter. Employees want to believe they’re making a difference in some way and will work harder when they believe in the purpose of the company.

But a company’s purpose needs to be carefully implemented to ensure that middle managers within the organization are clear on it. They need to be fully bought-in and on board.

Otherwise, financial results won’t be impacted, and time will be wasted coming up with words that just don’t matter.

For the full story, read the HBR report.

You can measure purpose at work

Are your employees experiencing a sense of clarity and purpose at work? Get Certified™ with Great Place To Work and, through our research-backed Trust Index™ employee survey, learn how your company culture stacks up and how you can create more purpose. Learn more.

5 Ways Workplace Culture Drives Business Profitability

2024-04-15T09:33:32-04:00

The employee experience is one of the strongest predictors of long-term business results. Here’s why.

What Is Workplace Culture and Why It Matters for Success

When you invest in workplace culture, your business is more profitable.

Employees with consistently positive experiences in the workplace are more likely to stay with the organization. They experience less burnout, give higher levels of effort, and drive faster rates of innovation.

The cumulative result: 카지노 커뮤니티 추천 with high-trust cultures are more profitable and have higher stock market returns.

According to research from FTSE Russell, companies that make the Fortune 100 Best 카지노 커뮤니티 추천 to Work For® list outperform the market by a factor of 3.68. Over time, that is a staggering difference.

In times of recession, more companies look to cut costs. With increasing pressure on business leaders to innovate and grow the bottom line, HR leaders must make their case: Workplace culture is a key predictor of financial success, in recessions and for years afterwards.

5 Ways Workplace Culture Drives Business Profitability

Here are five ways the data proves workplace culture drives profit:

1. Great workplaces have higher retention rates.

카지노 커뮤니티 추천 that make the Fortune 100 Best 카지노 커뮤니티 추천 to Work For® list — the flagship recognition list produced by Great Place To Work® each year — experience half the turnover of their peers.

That turnover can be incredibly expensive. For example, at the typical hospital in 2022, losses in nursing staff cost between $5 and $9 million.

High-trust culture also helps companies recruit top talent. For the 100 Best 카지노 커뮤니티 추천, employees are six times more likely to recommend their employer to others.

Even in a cooling economy, sourcing talent costs big money. According to the Society for Human Resources Management (SHRM), a company spends an average of $4,700 per new hire.

2. Great workplaces have lower levels of burnout.

Worried about productivity? Workers who are burned out might be “quiet quitting” rather than helping you reach crucial business goals. Or they might be actively seeking their next job.

Researchers argue that workplace stress costs the U.S. economy $500 billion. Workers who report burnout are 2.6 times as likely to actively seek a different job, 63% more likely to take a sick day, and 23% more likely visit the emergency room.

Profits don’t create great workplaces. It’s the other way around.

While only 16% of workers at a typical U.S. workplace are thriving, according to Great Place To Work research, at the 100 Best 카지노 커뮤니티 추천, 58% of employees report a high state of well-being.

What about high-trust culture keeps employees from burning out? In research on working parents, Great Place To Work found that companies who could offer these employees a psychologically safe and healthy work environment, and demonstrate care, saw fewer working moms and dads burnout and quit. Four in five working parents at these companies wanted to stay with the organization, saving labor costs.

3. Great workplaces innovate faster.

When employees trust their employer, they work harder, contribute more, and drive higher levels of innovation and productivity.

In Great Place To Work research, the highest levels of innovation occur when every employee is empowered to participate — “Innovation By All.” For companies where higher numbers of employees report innovation and inclusion, median year-over-year revenue growth is more than five times higher than companies in the bottom quartile for connecting employees to innovation.

When workers agree that their colleagues adapt to change, that they look forward to coming to work, and that management seeks out new ideas, business results follow.

But it matters who is being left out.

Every survey will have a percentage of employees who are not having a positive experience. What should alarm business leaders is when certain categories of workers report having disproportionately worse experiences.

Are your front-line employees being excluded from the broader mission of the organization?
Do women managers feel as supported and celebrated as their male colleagues?
Do all races, ethnicities, gender identities, and LGBTQ+ folks feel like they can bring their full selves to work?

If the answer is no — or even “I don’t know” — you don’t have an “Innovation by All” culture. With the best organizations seeing their revenue grow 550% faster than less inclusive organizations, it’s expensive to leave workers behind.

4. Great workplaces rebound faster from a recession.

Who your workplace culture leaves behind matters even more during a recession.

Great Place To Work research identified five groups of workers whose experience in the workplace drove performance over the past 15 years, including The Great Recession from 2007 to 2009:

Women
Front-line workers
Hourly male workers
Long-tenured employees
People of color

If these employee groups reported that they were treated as a full team member, felt welcomed when joining a new team, and saw management as honest and competent, the company thrived.

A group of 69 companies that researchers identified as “thriving” didn’t follow the 35.5% stock decline of the S&P 500 from 2007 to 2009.They saw an increase of 14.4%.

After the recession, these thriving companies continued to beat expectations. The S&P 500 recovered from 2006 with a 9% gain by February of 2014, but the thriving companies gained 35%.

What about in the wake of the COVID-19 pandemic? Almost every organization struggled to meet the demands of the global crisis that began in 2020, but companies with high-trust cultures rebounded the fastest.

5. Great workplaces have higher stock returns.

It’s not just short-term cost savings that make a great workplace culture so valuable to businesses. Research from Alex Edmans of the London School of Economics shows investing in workers leads to long-term business success.

Edmans analyzed the history of the 100 Best 카지노 커뮤니티 추천 lists from 1984 to 2009. Controlling for firm size, industry, past returns, and many other variables, Edmans demonstrated that companies on the list outperformed the stock market by 2% to 3% per year.

With the best organizations seeing their revenue grow 550% faster than less inclusive organizations, it’s expensive to leave workers behind.

But isn’t employee well-being just an indicator of running a profitable business? The more money you make, the more perks and benefits you can offer alongside inflated salaries, right?

Not quite.

Treating employees well doesn’t just correlate with higher stock returns, it predicts future performance. It takes four to five years before the market catches up to the value of employees’ job satisfaction.

Profits don’t create great workplaces. It’s the other way around.

Get Started

Compare the experiences of your employees with the most credible benchmark data available. Learn more about our data and how to earn Great Place To Work 카지노커뮤니티™.

6 Workplace Culture Trends for 2024 Every Company Should Watch

2024-01-22T07:00:20-05:00

Here’s what you should be getting ready for in the year ahead to create great workplaces where every employee can succeed.

For companies trying to build great workplace cultures, 2024 promises a complex challenge.

Artificial intelligence (AI) is upending the workplace, and employees are clamoring for training and tools to stay ahead of a rapidly changing business environment. Politics and a U.S. presidential election threaten to divide us at the exact moment when companies need to come together to solve big problems. Environmental concerns are rising, and the efforts to remake the industries of the world will impact every company.

Attend our annual company culture conference May 7-9, 2024

And the social issues that took center stage after the murder of George Floyd are still with us. Chief diversity officers and diversity, equity, inclusion & belonging (DEI&B) leaders have seen their roles change and diminish in the face of recession fears. Mental health issues haven’t disappeared along with the daily pandemic headlines.

With each of these challenges, business leaders have an unmatched opportunity. New data from Boston Consulting Group shows more than a quarter of employees globally are ready to leave their current jobs.

The best way to keep your talent? Become a great workplace, where every employee has a consistently positive experience.

Great Place To Work® research shows that it’s the company, not the industry that determines how employees feel at work. It’s not the size of your company, either. The key ingredient is employee trust, where leaders build deep relationships with employees in all job types and role levels, where workers are proud of the work they do, and feel a sense of belonging to the people they work with.

Here’s what that will require in 2024:

1. Make trust the most important asset for your business

Trust has never been more valuable, and the year ahead will only make trust harder to earn. The rise of artificial intelligence, a raucous presidential election cycle, and ongoing transformation of digital information systems will force consumers to ask more questions.

“We’re entering an era where trust will mean 10 times what it meant in 2023,” says Michael C. Bush, CEO of Great Place To Work. 카지노 커뮤니티 추천 will have to prove they are doing things to make the planet better, that they are adopting and launching new technology in a responsible and ethical manner, and that they can be trusted to wield their growing influence transparently and ethically.

Not only will trust matter in the current moment, but people will question if they can trust companies for the coming decade as new technology drives a radical transformation of life. “It’s going to be a commitment,” Bush says.

To understand what companies they trust, Bush believes consumers will look to the employees of the company. “You can trust a company in terms of how they’re using artificial intelligence when you know their employees trust them,” he says.

2. Find more ways to support and improve mental health for every employee

According to a 2023 market survey of more than 4,400 U.S employees by Great Place To Work, mental health hasn’t improved for employees at typical U.S. workplaces.

However, Great Place To Work Certified™ workplaces outperform this benchmark, with 83% of employees reporting psychological and emotionally health work environments. Only 55% of employees said the same at typical U.S. workplaces.

The biggest differences between great workplaces and the U.S. average? Fairness.

“We’re entering an era where trust will mean 10 times what it meant in 2023.” - Michael C. Bush, CEO of Great Place To Work

Employees at great workplaces were more likely to report receiving a fair share of company profits, a fair shot at a promotion, and fair treatment from their manager. 카지노 커뮤니티 추천 that want to improve mental health for all employees will have to investigate the structural causes of burnout and fatigue across the organization and turn employee feedback into clearly communicated action.

3. Make space for a tumultuous presidential election cycle

A 2022 report from the Society of Human Resources Managers found that 45% of U.S. workers report personally experiencing political disagreements in the workplace. Only 8% of organizations have communicated guidelines to employees about political discussions at work, according to the study.

What’s the cost of declining civility in the workplace? Lost productivity.

Great workplaces will have to make space for the world events that impact their people, and create programming in partnership with their people to address acute needs. Tony Bond, chief diversity and innovation officer at Great Place To Work, makes a strong case for robust employee listening programs.

“You have to survey employees, but you also have to find a systematic, measurable way to surface the voice of the people — to continuously take their pulse,” he says. “The last thing you want to do is create a large program when people aren’t in a place to participate.”

4. Increase your focus on retention, upskilling, and talent development

As finding talent with the right skills becomes more difficult, employers will have to invest more developing the talent they need internally. Even when companies are reducing headcount, they need skilled workers to continue operating the business.

A focus on recruitment shifts to a focus on developing and reskilling the workers you already have.

While the macroeconomic picture in the U.S. appears to be avoiding the recession that was prophesized in early 2023, business leaders will remain cautious. Yet, a skills gap remains a top concern, with 26% of CEOs ranking a talent shortage as the top “damaging factor” to their business outlook, per Gartner.

This might be the year to launch your internal talent marketplace, or revolutionize your learning and development tools with AI and new technology.

5. Make sure all DEI&B programs are aligned with business goals

Despite some prominent business leaders rallying against diversity, equity, inclusion & belonging initiatives, data shows that those voices are outliers.

According to The Conference Board, three-quarters (75.8%) of S&P 500 companies incorporate ESG performance into CEO compensation. Nine in 10 of the S&P 500 use at least one metric related to human capital management to calculate executive compensation.

How does this data square with the decline of DEI leadership roles at companies across the U.S.? In short, DEI&B programs that aren’t connected to clear business outcomes and revenue are disappearing.

As companies approach the five-year mark for the commitments made after the murder of George Floyd, what will have permanence will be programs that contribute to company performance.

6. Double down on developing the best leaders in the world for your company

Workplace culture starts with leadership, and the best workplaces are committing large resources to developing their people to lead with empathy and courage.

“You can trust a company in terms of how they’re using artificial intelligence when you know their employees trust them." - Michael C. Bush, CEO of Great Place To Work

As the business landscape has changed, what it means to be a leader has also changed. Employees expectations of their leader have shifted: Inspiring visionaries are giving way to coaches and mentors who can both lead the way and empower their people to lead in their own right.

The nine high-trust leadership behaviors will play an enormous role in differentiating the companies that can build trust in the age of AI, global disruption, and business transformation, and those that will fall behind.

Get more insights

Learn more strategies from our workplace culture experts at our For All™ Summit, May 7-9 in New Orleans.

Revolutionizing Employee Retention: Key Strategies and Benefits to Foster a Motivated Workforce

2024-01-10T11:57:22-05:00

High-trust Cultures at the Best Workplaces in Chicago, Texas, New York, and Bay Area Fuel Productivity and Agility

2023-06-15T07:00:50-04:00

Trust that management will lay people off only as a last resort pays off in remarkable ways.  

It’s hard to give your all at work when you’re worried that you’re next on the chopping block.

Stress and fear around layoffs has had a negative effect on employee mental health, productivity, and engagement. And when workers give and do less, businesses suffer. 

What breaks that cycle? Trust in your workplace.  

Workers who trust that management will lay people off only as a last result are more likely to look forward to work, give extra on the job, and adapt quickly to business changes, according to Great Place To Work® research.  

Those high agility and productivity levels are relished by leaders at any time, but particularly during periods of economic uncertainty.

Employee trust in management around layoff decisions is one of many reasons the Fortune Best Workplaces in Chicago™, Texas, New York, and the Bay Area outperformed typical U.S. workplaces across productivity, retention, and recruitment. 

“This is why trust matters,” says Michael C. Bush, CEO of Great Place To Work. “This is how it shows up. It’s hard to stay motivated and be ‘all in’ when you wake up with fear and dread that you’ll be out of a job.” 

But if employees believe layoffs are a last resort at their workplace, the quit rate is cut in half and motivation to come to work is 210% higher.

“These workers trust their leaders to make tough decisions, and that comes from a reservoir of trust built long before hard times hit,” Bush says. 

What drives employee trust in management decisions around layoffs?

The top four drivers, according to Great Place To Work research, are confidence in the executive team, company pride, feeling welcomed, and a caring work environment.  

Great Place To Work determined the Best Workplaces in Chicago, Texas, New York, and the Bay Area by analyzing data and survey responses from more than 420,000 employees. 

Feeling welcomed helps companies during downturns  

Out of all the measures of the employee experience among the winning companies, feeling welcomed topped the list, with varying impact across regions. 

Employees who felt welcomed when joining companies in the Bay Area and Texas are 40% to 50% more likely to recommend their companies, and employees who felt welcomed when joining companies in Chicago and New York are 10% to 30% more likely to be agile.  

Making employees feel at home is one of the five areas of the employee experience critical to surviving and thriving amid downturns, according to a 15-year recession study from Great Place To Work. How welcomed employees felt predicted company performance. 

There are many ways to help employees feel welcome, whether they’re new to your company or new to a team. The first step is to recognize the impact of a new teammate through introductory meetings that will spotlight their talents.  

It’s also important to actively seek their ideas and input in decision-making instead of making them “prove” themselves.  

“These workers trust their leaders to make tough decisions, and that comes from a reservoir of trust built long before hard times hit.” - Michael C. Bush

Kimpton Hotels & Restaurants (No. 11 on the Best Workplaces in the Bay Area among large companies) asks new employees to fill out a personal preference profile to get to know them better right away.  

The list of questions vary in complexity and depth, and includes questions such as: What do you like to do for fun when not at work? What’s your favorite food or snack? Tell us one thing that people would be most surprised to know about you.   

When Lindsey Yealy, catering sales manager at the Hotel Monaco in Pittsburgh, started at Kimpton, she was blown away by the individualized welcome her managers gave her based on what they read. Here's how she felt about receiving a “Welcome to the Family” postcard before starting:

“It was a small act of kindness that went such a long way for me. I had shared that I had Type-1 diabetes and mentioned bringing in some juice boxes to put in the communal fridge for my low blood sugar. Within the hour, I had my own personal mini fridge set up in my cubicle. Living and working with Type-1 diabetes is so stressful and challenging most of the time.” 

Knowing her team here was there to “help in any way makes a world of difference,” she says. 

Company pride fuels recruitment

Another metric leaders chase is recruitment. The ability to fill the pipeline with much-desired referrals is the result of giving people a workplace experience they’re proud of.

What drives those referrals? Pride. It’s the No. 1 recruitment driver across all regions.  

Employees who feel high levels of company pride  are 4.3 to 6 times more likely to recommend their company to others. 

Pride also drives retention and is second only to meaningful work. Employees who feel pride are between 1.8 and 2.3 times more likely to stay, and those who feel their work is meaningful are 2.8 to 3 times more likely to stay at the company.  

More than nine out of 10 employees across these four regions said they’re proud of their company’s reputation compared with six in 10 employees at a typical workplace.  

Giving back to the community helps instill pride at NuStar Energy, No. 9 on the Best Workplaces in Texas list of large companies.  

The company’s chairman, CEO, and executives work side-by-side with employees on volunteer projects that are organized by employee-run Volunteer Councils.

Weekly volunteer projects range from cleaning up parks and mentoring students to delivering meals to seniors and coordinating parties for children with disabilities.

NuStar also matches employees who want to serve on a nonprofit board with an organization that matches their interests, and supports them by providing contributions and other resources to the charity.  

Building workplace pride is a competitive advantage, and is the result of consistent effort. Creating one of the best workplaces in the country can’t happen without prioritizing this often overlooked way to engage employees.  

Regional workplaces improved in different ways

Here’s a look at how companies in each region created a great workplace for their people — and set them apart from the average.

How to make the list

Think your company deserves special recognition? Get started here to become eligible for next year’s Best Workplaces™ honors.

2023 Best Workplaces in New York Offer Career Growth, Flexible Schedules

2023-06-14T07:00:27-04:00

Here’s what employees say matters to them in the workplace.

The best workplaces are those where employees are able to develop new skills and push their limits.

Opportunities for new projects, leadership roles, and paths to promotion are equitably awarded. Every employee, regardless of role level, has opportunities for special recognition, and every employee is able to innovate and contribute new ideas.

For companies on the 2023 Fortune Best Workplaces in New York™ List, the benefits of helping employees grow are undeniable. Ninety-three percent of employees at these companies said they had a great workplace, compared to just 63% at a typical U.S. company.

Great Place To Work® developed the Best Workplaces in New York list by analyzing surveys from companies that employee 7.5 million people in the U.S. Of the 1.3 million surveys collected, more than 170,000 responses were received from companies eligible for the New York list, and these ranking are based on that feedback.

Here are the top three experiences reported by employees at winning companies:

Welcomed when joining the company
Having pride in their company brand
Holding a lot of responsibility in their role

Here’s what these experiences meant for key business outcomes:

1.8x more likely to give extra effort

when employees say they have a lot of responsibility.

2.3x more likely to stay

when employees feel proud of their company.

4.3x more likely to recommend their employer

when employees feel proud of their company.

“Congratulations to the Best Workplaces in New York,” says Michael C. Bush, CEO of Great Place To Work. “These great companies are laser-focused on their most valuable asset: their people. The result? Higher productivity and performance, and faster rates of innovation.”

“Fortune congratulates the Best Workplaces in New York,” says Fortune Editor-in-Chief Alyson Shontell. “In a challenging economy, these companies have demonstrated the increasing value of ensuring that employees feel valued.”

Who made the list

The list was segmented into two categories: Large companies with more than 1,000 employees and small- and medium-sized companies with 10 to 999 employees.

Here are the companies that top the list of large New York-based employers:

Here are the companies that top the list of small- and medium-sized New York-based employers:

What employees said

As part of the survey, employees answered two open-ended questions about their experience in the workplace. Here’s what an employee at Accenture, No. 3, large company category, said about the value of flexibility in improving their experience in the workplace:

“I have had the opportunity to work an 80% schedule [Monday through Thursday] for the past 10 years. During this time, I have been promoted and taken on increasing responsibility. I feel lucky that my flexibility and work/life balance have not inhibited my ability to excel at this company.”

What you can learn

The top performing companies offer clear lessons for leaders looking to improve the employee experience at their company — and perhaps make a list themselves.

1. Provide opportunities for growth. At winning companies, nine in 10 employees say they have lots of responsibility, indicating low levels of micro-managing. Make sure your employees have the space and permission to take on stretch goals and grow into new roles.

2. Offer flexibility. When employees said they could take adequate time off, they had 10% higher odds of wanting to stay with the company long-term. Flexible work is a key tool for promoting well-being, a top priority for many leaders in 2023.

3. Create an inclusive environment for all. When employees report a warm welcome when joining a new team, they have 10% higher odds of also experiencing agility, or the ability to quickly adapt to change. A welcoming environment has also been proven to drive performance amid economic turmoil.

How to make the list

Think your company deserves special recognition? Get started here to become eligible for next year’s Best Workplaces™ honors.

2023 Best Workplaces in Texas Offer Inclusion, Balance

2023-06-13T07:00:07-04:00

Here’s what the best employers offer their workers.

The best workplaces are those where everyone, regardless of identity, background, or job role, feels welcome and included.

Being made to feel welcome when joining a company is a key employee experience during times of economic turmoil. Great Place To Work® research shows that if all employees feel welcomed to new teams, a company has stronger performance during a recession.

For employees on the 2023 Fortune Best Workplaces in Texas™ List, 96% of employees reported feeling welcomed when joining the company. For these companies, 94% of employees reported having pride in their organization and 94% also said they could take time off when needed.

For employees at winning companies, having pride makes all the difference:

2.3x more likely to stay

when employees feel proud of their company.

2.1x more likely to report great workplace

when employees feel proud of their company.

5.9x more likely to recommend their employer

when employees feel proud of their company.

“Congratulations to the Best Workplaces in Texas,” says Michael C. Bush, CEO of Great Place To Work. “These are companies that understand how putting people first drives performance, productivity and innovation — essentials in this economy.”

“Fortune congratulates the Best Workplaces in Texas,” says Fortune Editor-in-Chief Alyson Shontell. “They are leading their industries in employee satisfaction, a critical metric for success in a period of economic uncertainty.”

Who made the list

Great Place To Work developed the Best Workplaces in Texas list by analyzing surveys from companies that employee 7.5 million people in the U.S. Of the 1.3 million surveys collected, more than 100,000 responses were received from employees at companies who were eligible for the list and these rankings are based on their feedback.

카지노 커뮤니티 추천 with more than 1,000 employees were considered for the large category on the list. 카지노 커뮤니티 추천 with 10 to 999 employees were eligible for the small- and medium-sized category.

Here are the companies atop the list of large Texas companies:

Here are the top small- and medium-sized employers in Texas:

What employees said

As part of the survey, employees were able to answer two open-ended questions about their experience in the workplace. Here’s what an employee at Texas Health Resources, No. 6, large category, had to say about the importance of having a high-trust culture:

“The culture here is differentiated. We actually care about each other and enjoy each other. 카지노 커뮤니티 랭킹 organization cares most about the well-being of our people and continues to find ways to enhance our benefits rather than cutting them at every turn to save money. It makes me feel safe ... I don’t come to work feeling vulnerable, wondering if today is the day they bring me into a room with a bunch of people and eliminate us. I have never felt that way here. I know if I’m doing a good job I will be recognized for that work. I also know that there are no ulterior motives or agendas lingering in the background. We are very open about our goals, about our opportunities for improvement and we are all working together to move the needle.”

What you can learn

These winning companies offer lessons in creating high performance culture, a priority for every business in 2023. Here are the top takeaways:

1. Cultivate pride. With nine in 10 employees at winning workplaces feeling proud of their organization, pride is an essential piece of the best workplace cultures. Pride is also a top driver of business results from employee retention to overall positive experience of the workplace.

2. Offer flexibility. Flexibility is a top priority for many organizations focused on well-being in 2023. At winning companies, 94% of employees say they can take time off when necessary. When employees can take time off, they have 10% higher odds of staying with the company long-term.

3. Create an inclusive environment for all. For the Best Workplaces in Texas, a warm welcome is a top experience for employees. When employees feel welcome, they are 1.4 times more likely to recommend their company to friends and family.

How to make the list

Think your company deserves special recognition? Get started here to become eligible for next year’s Best Workplaces™ honors.