In recent years, we've seen a significant shift in our professional ethos. Once upon a time people settled at a job for 10 to 15 years. Today we're more likely to job hop until landing at or launching our own dream company. I hopped around multiple times over a four-year span before I decided to venture out on my own.
Businesses interested in retaining top talent must answer the question of "How can we create a competent workforce with A+ players?" Often, a positive company culture is the answer.
Google (now Alphabet) has consistently taken home the top position as one of the world's most desirable employers, and for good reason. They are the poster child for a more innovative approach to company culture, which includes nap pods, hybrid car subsidies, and free breakfast, lunch, and dinner. These perks come at a cost for Google, but so does employee dissatisfaction and high turnover.
Your company culture has the potential to either crush or skyrocket your profit. Here are seven businesses that have successfully created company cultures that are worth replicating.
When the HourlyNerd considers onboarding new employees, they don't hire with an immediate role in mind. Co-founder Pat Petitti says HourlyNerd "considers how likely potential hires can (in the near future) take on substantially more responsibility." Through a comprehensive feedback policy that encourages regular communication from leadership, HourlyNerd consistently sees young employees push themselves into more senior roles.
Infusionsoft takes a personal approach to ensure employees are happy. "It's about finding people with true passion, and putting them in roles and in a position where they can achieve their aspirations and dreams," says Chief People Officer Hal Halladay. An example of this personal approach is Infusionsoft's internal social network for employees, which limits email exchange so that employees can share their ideas with one another through a more informal correspondence system.
3. Capture Higher Ed
A large part of Capture Higher Ed's success can be attributed to allowing employees to make bold moves. "I believe innovation can occur anywhere in the company, not just in leadership or technology, and encouraging people to take risks is key to being an innovative company," says CEO Steve Huey. Believing in the potential of their employees has led Capture Higher Ed to be championed as a "Great Place to Work" by Fortune Magazine.
4. Bright Funds
"When a new employee joins Bright Funds, I tell them that they are the CEO of their respective domain," says CEO Ty Walrod. By empowering employees to become proactive leaders, this gives them the opportunity to add value to the company in ways that might otherwise not be achieved. Bright Funds is known for designing an all-in-one giving program that employees trust, but the company also gives back to its own employees by encouraging them to take the reigns of their lives.
Compass is a growing online real estate platform that recently raised $50 million in September at an $800 million valuation led by Institutional Venture Partners and boasts a 99 percent employee retention rate -- an anomaly within the startup environment. The company is very selective about whom it accepts as agents -- only 17 percent of applicants are hired -- to ensure that there's a culture fit between the company's values and those of the people it hires. With their strong emphasis on aligned company values, it's no wonder employees never want to leave Compass.
It's one thing to run a company with 65 staff members, it's another feat to run a company with 65 staff members that has no central headquarters and is spread out across 27 states. According to FlexJobs founder and CEO Sara Sutton Fell, "Company culture is much more than a building." She emphasizes the need for greater flexibility to allow people to do their work well no matter where they're located. FlexJobs practices what it preaches by giving employees the option of a flexible work environment.
While TinyPulse recognizes that certain perks aren't "essential for building a stronger work culture," the company does admit that some perks assist with boosting engagement and retention. Whether it's offering massages, creating dog-friendly areas, or providing weekly lunches, funding benefits responsive to employee needs can help overall company morale. With a mission to reduce employee turnover for their customers, TinyPulse believes that people are the most important asset it has.