I have long been fascinated with organizational culture, long before I went back to college as an adult to study organizational leadership and long before I came to work in the consultant space. When people, even strangers, talk about their workplaces, I always have so many questions.
Questions about how conflict and disappointments are handled.
Questions about employee agency in creating a work environment that helps them thrive
Questions about how evaluations, raises and promotions are communicated
Questions about support systems for workflow variations
Questions about company mission buy-in
Questions about how the knowledge gap between management and non-management
You get the idea. Most of us spend an inordinate amount of our lives working and thinking about work. While compensation is an important way to show value for someone on your team, it needs to be part of a company culture package to actually keep good people in place. There are some credible studies including this one in the Journal of Vocational Behavior that show that compensation plays a smaller role in employee satisfaction than we might think.
In addition to generous compensation, organizations need to also foster purposeful work and a positive company culture, one that includes
Opportunities to learn and develop. Have you thought about a learning stipend that doesn’t have to be spent on work-related interests? Trust me. Investing into your employee’s lives outside of work speaks volumes.
Listening. Do you create regular one-on-one listening sessions outside of annual evaluations? It doesn’t have to be formal. Could be as simple as “hey, let’s have a cup of coffee together” (in-person or remote) or “let’s go walk a lap (around the building) together”.
Recognition. I’m not talking about the awkward annual employee award plaques; instead, verbal words of affirmation along the way and in front of others, when possible.
Clear communication. Do your employees have the language to describe your company culture? Is the path to success, both individually and corporately, well-lit? Do your departments communicate well with each other?
All of this to say that compensation is one part of a bigger narrative in building a vibrant organizational culture that retains loyal, talented employees. If we are going to spend a good portion of our waking hours at work, let’s create a world that we all want to live in. Let's stay!
Comments