8 Amazing Benefits of Being a Great Place to Work

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What’s it like to work at your company?

This is more than some goofy HR question that has no impact on the bottom line. In fact just the opposite is true.

When people love their jobs and love coming to work, the benefits to your business are amazing. Here are eight:

1. When your business is a great place to work, employees give 100% in everything they do.

People bring their bodies to work (mostly), but, often, not their heart and mind. When a business is a great place to work, it engages people in a deep way and inspires them to give their full effort in everything they do.

Not many competitors, large or small, can beat a team that gives 100%, 100% of the time. That’s what you get when your business is a great place to work.

2. When your business is a great place to work, you become an employer of choice.

It’s never been harder to find talented, hard-working people. A business that’s a great place to work, however, becomes a magnet for these kinds of people. People want to work there and actively seek out employment opportunities that become available there.

Imagine, candidates waiting in line to work for you, and your being able to select from the very, very best. That’s what happens at great places to work.

3. When your business is a great place to work, employees think like owners.

People actually care about your company when it’s a great place to work; and because they care about your company, they think like owners and not just employees.

Owners do what’s needed to get the job done and go the extra mile to serve the needs of their customers. And when everyone thinks like an owner, that’s what everyone does, from the front line to the corner office, making a big impact on business.

4. When your business is a great place to work, customers notice and come back again and again.

“It must be so much fun to work here!” is a common refrain you’ll here from customers when your business is a great place to work. And when customers make comments like that, they keep coming back again and again.

In this way the work environment you’re creating becomes a reason for doing business with you, not just your products and services. And that environment becomes a competitive advantage that’s really hard to replicate.

5. When your business is a great place to work, absenteeism nearly disappears

One of the more costly things that can happen to a business that’s not a great place to work is employees who get paid but don’t actually show up to work. Mysterious sick days and questionable personal days are taken freely and unapologetically.

When your business is a great place to work, however, people don’t want to stay away. They come to work even when they’re sick, which poses an entirely different problem (but a nice one to have).

6. When your business is a great place to work, turnover costs plummet

Another cost that drains businesses dry is recruiting and training new employees. It’s been estimated that recruiting and training new employees costs 2-3 times the annual salary of any position being filled. When people come and go in a business, these costs mount substantially.

With decreased turnover, however, a business saves thousands and thousands of dollars. Don’t get me wrong, not all turnover is bad. There are times when it’s perfectly appropriate to let an employee go. But much of it can be avoided, as well as its wasteful expense.

7. When your business is a great place to work, collaboration and creativity thrive

Nothing goods comes from an environment of fear and intimidation. While coercion might produce compliance to standards and procedures, it’s minimal at best and doesn’t foster collaboration and creativity.

And it’s collaboration and creativity that are the key to meeting the challenges of the marketplace today. People who hate their job don’t bring revolutionary products to market on time and under budget, if at all.

8. When your business is a great place to work, you know that you’re impacting the lives of people.

People spend almost half of their waking hours at work. Colleagues and coworkers get more face time in a typical week than family and friends. That’s what it takes to earn a living today.

So when your business a great place to work, you get the satisfaction of knowing that you’re making this inseparable part of people’s lives a pleasure instead of a pain. And that’s pretty cool all by itself.

It’s All About Leadership

Businesses that are a great place to work don’t happen by accident. They have leaders who intentionally build them that way. Here’s what these leaders do:

•    They lead by example.
•    They do what they say they will do. No exceptions.
•    They treat people with dignity and respect.
•    They challenge everyone to be their best.
•    They apologize when they’re wrong.
•    They freely recognize and reward success.

This kind of leadership works, and so will the people who come under its spell.

What’s it like to work for you?

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