In an economy where raises and promotions may not always be financially feasible, what can employers do to improve employee retention? Though many companies may be tempted to overlook corporate culture as a means of improving their bottom line, some companies have found that effectively building and maintaining a positive corporate culture helps to improve productivity. Ultimately, corporate culture is developed and impacted by society and other cultural aspects; however, it is largely formed by the attitudes of the employees within a company and the procedures enforced by that organization. It is something unique to each and every organization.

Find Flexibility
Do you find that your employees are constantly clock watching, waiting for five p.m. to roll around so they can bolt out the door? Although it may seem counterintuitive, some companies have found that allowing for flexible work schedules has increased worker productivity instead of decreasing it. Workers find that they feel trusted by their employers when they aren't being constantly policed, allowing them to get their work done as they see fit so long as the job is done on time. This also allows workers to find a greater work/life balance, leading to a happier, healthier workforce.

Promote Creativity
Creativity should be promoted within the workplace. Many organizations have fostered creativity by creating open-concept workspaces that allow for teamwork and a certain amount of freedom. This allows employees to collaborate and work effectively, creating a sense of community within the office. This in turn promotes employee innovation and creativity in their approach to work, often allowing employees to quickly identify successful solutions in dealing with workplace issues.

Time for Fun
Though it may be often said, it is probably true that we typically spend more time with our coworkers than we spend with our families. For this reason, finding ways to make work fun can dramatically improve morale in the workplace. Things such as company events or friendly competitions can improve both loyalty and performance.

Approachable Leaders
A lousy manager is a common reason for leaving a job. An excellent boss, however, can have the opposite effect. Employees look for supervisors and managers who are clear communicators and don't micromanage. This allows employees to feel supported and free to ask questions without fear of retribution, helping to improve the overall communication within the office.

United We Stand
Creating a strong and respectful team dynamic ensures that your employees will look out for one another and work together to succeed. Organizations that place a high level of importance on creating a unified team will often seek new employees who are a proper fit for their company's corporate culture instead of simply hiring the most qualified person, only to find that they don't match with the organization's ideals. In turn, employees feel compelled to work together to achieve the greatest results.

Recognizing Excellence
Companies that recognize outstanding performers often enjoy a greater level of loyalty from their employees. Recognition can come in many forms, including promotions, performance bonuses and other incentives or rewards; however, recognition does not always need to be formal or tied to compensation. In fact, a simple pat on the back or a thank you for a job well done can do wonders to encourage employees to keep giving it their all.

Accountability and Loyalty
Greater accountability and employee loyalty are some of the main perks that come from a less-structured, more-supportive work environment. In fact, employees who feel like they play an important role in the success of the organization generally strive to do the best job they can, often performing at a higher level than those who are closely monitored or policed in the workplace.

Solid Service = Limitless Growth
Making customer service job one ultimately leads to a company that can grow and flourish. Each department should clearly understand who its customer is. Some departments serve clients or customers within the company, while others serve external clients outside the organization. If a company focuses on providing the very best service possible, however, the company's customers will probably be happy, coming back for repeat business and sharing their positive experience with friends, family and business associates.

Contagiously Positive
It's a simple fact that a smile can be contagious. Happy employees talk positively about their employers. This in turn can shed a positive light on your organization, leading to increased awareness about your company and translating to improved sales.

The Bottom Line
Every company that moves toward creating a unique corporate culture goes through growing pains, and not all strategies will work equally well for all companies. It really depends on finding the right mix of freedom and creativity that will work for your industry and for your employees. There is, however, no denying that happy employees are typically much more eager to come into work and give an honest day's work - which will hopefully translate to greater sales volume and employee retention. Bear in mind that each and every time an employee leaves your company, there is lost productivity, as a replacement worker must be recruited and trained. It is often a lot easier and more beneficial for an organization to keep its experienced and outstanding staff happy and productive.

Related Articles
  1. Retirement

    This Is Why Your Employer Should Offer a 401(k)

    Understand the unique benefits that come with a small business offering a retirement savings plan such as a 401(k) to current and future employees.
  2. Economics

    Explaining Quality Control

    Businesses use quality control to ensure their products and services meet a certain standard, as well as any industry regulations.
  3. Professionals

    Consider A Career As A Financial Communications Professional

    Regulators, sales people and clients all look to communications professionals to help them navigate the markets.
  4. Investing Basics

    How Junk Food Earns Mondelēz $35B a Year

    How and why Mondelēz spun off from Kraft. Where the company is going, and how it profits on multiple continents.
  5. Economics

    What Is Servant Leadership?

    Servant leadership emphasizes innovation, employee empowerment, and the development of leaders who serve an organization’s stakeholders first.
  6. Economics

    Understanding Corporate Culture

    Corporate culture encompasses the beliefs and behaviors that determine how a company and its employees interact and how they work with customers.
  7. Economics

    Time to Worry About a Profit Recession?

    3rd Q earnings season, a weak global economy, a strong dollar and collapsing energy prices suggest that the U.S. may be in the midst of a profit recession.
  8. Investing

    The Top 10 Best TED Talks for Business Leaders

    Influential talks for 21st century managers chosen from TED, a nonprofit dedicated to spreading ideas worth sharing.
  9. Investing Basics

    Do Superstar CEOs Guarantee Better Returns?

    Do great CEOs mean better returns for investors? Here are 14 stocks that show it might just start at the top.
  10. Fundamental Analysis

    The Basics Of Corporate Structure

    CEOs, CFOs, presidents and vice presidents: learn how to tell the difference.
  1. Why are business ethics important?

    Several factors play a role in the success of a company that are beyond the scope of financial statements alone. Organizational ... Read Full Answer >>
  2. What responsibilities does a company take on after an acquisition?

    Most of the attention during an acquisition goes towards valuation, market shares and legalities. Little notice is given ... Read Full Answer >>
  3. At what stage of business should human resources planning occur?

    Human resources (HR) planning is an ongoing process. This is particularly true for companies with large workforces when labor ... Read Full Answer >>
  4. What tools do companies use in human resources planning?

    Increasingly, companies are able to incorporate performance technology and forecasting matrices into human resources (HR) ... Read Full Answer >>
  5. What is a roll-up merger and why does it occur?

    A roll-up merger is the process of acquiring smaller companies within an industry to form one larger firm. To start a roll-up, ... Read Full Answer >>
  6. How do you conduct effective social responsibility training?

    One way to provide employees with effective social responsibility training is to base training sessions on resources offered ... Read Full Answer >>

You May Also Like

Trading Center