4 Reasons You Need a Transparent Company Culture
Many experts agree that transparency is important to a company and its culture.
Many experts agree that transparency is important to a company and its culture.
Learning and development (L&D) is becoming a central hub for safety, innovation, and business growth in the modern-day workplace, especially in the era of evolving technology, big data and data analytics, skills gaps, workplace shootings, sexual harassment and discrimination awareness, and decreased employee engagement.
Negative or low morale among employees can be problematic for employers. Not only does it lead to an unhappy workplace, but it can also cause increased turnover and decreased productivity. And unfortunately, it can be difficult to fully recover from low morale once it sets in.
We’ve got good news and bad news. We’ll start with the bad: roughly 35% of workers plan to look for a new job in 2019. Now here’s the good news: this number is down drastically from 74% in 2018.
In 1985, I took my first job in the aerospace industry. On day 1, an HR person showed me to a conference room, handed me a thick manual, and said, “Read this.” That was onboarding. It took 4 hours to read the manual. I had nothing else to do—nothing else to be engaged in.
It is far easier and less costly to generate more business from an existing client than it is to draw in a new customer. But you can only capitalize on your existing clients if you develop the all-important customer loyalty. Your employees are pivotal to this process.
Even for very large companies, absenteeism among employees can be a big deal. But, for smaller organizations, where there are fewer people in a given position—perhaps only one person in a certain position—absenteeism can have a significant impact on productivity and customer service.
A study published by Gallup found a direct correlation between employee engagement and company revenues. According to their report, actively disengaged employees cost American businesses anywhere between $450 to $550 billion in revenues each year. Increasing engagement contributes to greater productivity which, in turn, contributes to higher revenues.
Recent research suggests the human resources (HR) department’s increasing impact on an organization’s bottom line and its ultimate success. Basically, your organization’s success or failure will depend on how it manages its people and job candidates during the stages of their life cycles with your organization.
While the candidate experience is important in the recruiting process, how you treat your workers once the “honeymoon phase” wears off is of vital importance. Many companies are focusing on the employee experience to help retain top talent, but what does this entail?