Deloitte University Press recently published the results of its’ Human Global Capital Trends 2015 survey, of more than 3300 business leaders across 106 countries – one of the largest and most accurate reports available. The results are based on assessments of each organization’s readiness to meet the specific talent challenges facing the HR world today.
Employee engagement and culture was ranked by the 3300+ surveyed executives to be the #1 human capital trend in 2015. Did we need a survey to tell us this? Here are the facts.
- A whopping 87% of respondents cite Culture and Engagement as crucial to their success – double from last year’s survey.
- More than half of the respondents either had no strategy to improve the workplace culture, or were in the process of improving it.
- 78% of the respondents believed their workplace culture and its employee engagement to be the most important aspect in the success of their businesses, but only 47% felt prepared to address this concern.
The last point is particularly interesting. 31% of those who responded do not feel their work environment reflects their needs. The workplace has evolved tremendously and HR must be fluid and evolve with it. Applicants are savvier than ever with the access of technology and higher education, and workplace environment can easily be assessed via LinkedIn, Glassdoor, etc. Employee’s motivations have changed, too. For some, work passion supersedes climbing the corporate ladder. Employers need to be aware of how important it is to find meaningful ways to keep their employees happy and engaged, especially after hearing about the innovative benefits and perks companies such as Netflix, and now Microsoft are offering their employees.
Browsing through the Fortune 100 “Best Companies To Work For” list you’ll find some creative and inspiring alternatives to standard benefits packages. Take a look at the top 5 companies of 2015 and what they’re offering.
#1. Google provides dads, moms, surrogate parents, adoptive parents – in short, anyone who is raising their newborn, 12 weeks paid “bonding time,” plus $500 in “Baby Bonding Bucks” to help offset all the expenses new parents have.
#2. The Boston Consulting Group (BCG) offers 12 weeks of Social Impact Leave of Action, where employees can follow their dream and make a difference for a worthy cause.
#3. ACUITY offers no limit on tuition reimbursement, no cap on paid sick days for full time employees, and a great 401(k) plan where the company adds 8% of pay into accounts every quarter.
#4. SAS Institute has many perks, but its culture itself is the biggest perk. Free gym hours for employees and families, shorter work weeks, onsite childcare, great benefits and subsidized meals.
#5. Robert A. Baird offers capped 37.5 work weeks, profit sharing (employees are shareholders) and big egos are strongly discouraged. In fact, over the past 20 years, over two dozen employees have been fired for coming to work with bad attitudes. To see the rest of the Top 100 Companies of 2015.
And of course we’ve recently learned what Netflix offers their employees.
The list goes on and on.
Shifting Traditional HR Mindset
We all know the phrase “Culture Eats Strategy for Breakfast,” but culture needs to become part of the overall business strategy. If employees are intrinsically driven by their passion more so than status and financial standing, then it behooves HR to get “in sync” with the millennial mindset. Create a space that meets employee’s needs where they can feel engaged, challenged, and empowered. Reward their efforts with innovative workplace perks; unique and individualized to organization and employee. Consider the paid parental benefits at Netflix. Not every organization will be able to offer this to its employees, but how about using it as a template for yours? While it may not be possible to give a year off to every new parent, how about contributing $500 instead, like Google does. That’s a good start.
Employee engagement means investing in their needs and longevity at your organization. Take the time, during hiring, to survey potential employees in regards to what their ideal work environment can offer. There is a commonality among each and every employer in Fortune’s list. Each goes above and beyond to keep their employees happy and supported in their work and home lives by thinking outside of the box and shifting the traditional mindset.