Friday July 17, 2015
Jon Reed, Operations Director for Purple Cubed, shares his thoughts on driving great organisational culture, and the important role this plays in attracting and retaining talent
Having had the opportunity to present to a very cool, successful, high growth business. I asked the group what they looked for in a great place to work. They were all very bright, energetic and I’d guess all Gen Y’ers or Millennials. Of the 30 or so people, ‘great people/team’ came up several times, as did ‘fun’ and ‘challenge’ which is what I would expect given the results of our Best Places to Work in Hospitality Survey. However, interestingly ‘culture’ and ‘being treated like an adult’ and indeed ‘freedom to make decisions’ were also mentioned. I’ve asked this question many times over the last ten years, but never before have these sort of responses appeared as regularly as they do today - especially, as it seems, for millennials.
We’re all about showing organisations how getting the culture right and engaging with their employees is critical to business success. So when Deloitte released their ‘Deloitte Human Capital Trends 2015: Leading in the New World of Work’ in March 2015 it wasn’t a surprise to see culture, engagement, and retention listed as the number one business issue globally.
According to Deloitte, 87% of companies rate this a high priority problem and 50% rate it as urgent. And worryingly, approximately half the companies Deloitte surveyed believed they were unable to drive the desired culture in their organisations.
We’ve recently designed an approach for measuring culture and engagement. It’s a unique survey which asks people to tell us what characteristics make a best place to work for them, against which they score how the organisation is performing. We know millennials place as much importance on work life balance, career and personal development, shared values, inspirational leadership and robust communications as they do on a good salary. Our survey focusses on what makes a best place to work by asking those who truly know – your people.
It’s clear to see that a strong culture has the power to drive engagement and retention and in considering that more than 50% of teams today are made up of millennials it’s worth asking how you appeal to and retain this talent. Our recommendation would be to ask what they need from the organisation, individually, and deliver it.
You may also enjoy Alan Murray’s article in Fortune magazine which gives some excellent tips.
Want to know more about our approach to engagement surveys? Contact firstname.lastname@example.org