More than Money: Culture is the Key to Employee Retention
November 3 2011 by ChiefExecutive.net
Salary is important to employees and critical to maintaining their personal standards of living. In this economy, however, companies can’t afford increased salaries and lots of perks for employees. It turns out, however, that though employees do care about how much they’re making, there are many other things that you can do to keep employees engaged and motivated.
Employees care about corporate culture. Everyone wants a positive work environment. If you treat your employees with respect, they treat each other with respect, and have pride in what they do, it can make up for many other shortcomings.
USA Today covers GreatPlaceToWork.com’s list of the 25 best multinational workplaces, a study that found that trust, pride and camaraderie are more important to employees than their salaries. Companies with exceptional workplace environments have three things in common:
- employee trust in management
- pride in the company
- camaraderie with colleagues
If employees feel supported and respected, it’s easier to overlook salary shortcomings. How’s your company culture?
Here are the top 10 places to work 2011:
- FedEx Express
- SC Johnson