The Best Companies in 2018 Includes Revenue Gains, Professional Growth and Bettering the Community
Deloitte's yearly Global Human Capital Trends report is one of, if not the most, insightful looks into the workplace each year. This year's analysis focused on the rise of the social enterprise. Through its analysis of research, analytics and industry insights, the report aimed to "enable business performance through people performance." The report notes that trends show that social responsibility matters just as much as revenue. In fact, there is even a correlation between the two. Today's thriving organizations focus on the growth of revenue and the success of stakeholders just as it does its employees and the community.
If your company wants to be a leader in professional growth and civic responsibility, these are points you must keep in mind.
Lead By Example. Act with Ethics.
As we’ve discussed in the past, the role of People goes beyond compliance. It includes professional growth, human experience and the ethics that come with it. So, if you want to set an example for how employees should impact their community, start with the company’s ethics. How do the actions of the company affect the team and the community it surrounds? Think about the clients, users and others that come in contact with your business. If this is a new undertaking for you or your team, you may be surprised to realize just how many individuals are impacted by your company’s actions.
Promoting positive workplace culture and ethics is an excellent place to start. Always foster an inclusive hiring process that factors diversity in the workplace. A diverse team brings new ideas for a more well-rounded office - with actions and ideas. Now, go further. Seek out opportunities for all employees to grow within the company. By taking these steps, your company sets itself up for success by retaining its staff through an inclusive workplace that encourages its team to enhance their skills and advance with the organization.
Track the Team’s Growth
In some offices, professional development efforts fall short of their goals. As such, employees can become lost in their work and potentially move on at some point down the line. But, why would an initiative to promote growth fail? One of the main factors is often a lack of follow up on management’s behalf. As the saying goes, “if you're going to talk the talk, you've got to walk the walk.” Walking that walk isn’t just taking the first steps like encouraging people to grow and then stopping. It takes consistent involvement to successfully promote professional growth. Well-implemented growth plans often include company-hosted events, speaking engagements and most importantly, preparing these growing employees to take on such responsibilities in the company. Show them that they are the next leaders in the company.
In addition to setting up these events and opportunities, it is vital that progress is tracked. Measure the impact of the company’s efforts during check-ins. Make them a part of the KPIs. Doing so allows for progress to be tracked on a personal, departmental and company-wide level if you should so choose. Overall, show that employment growth isn’t just a small gesture; it’s a pillar of company culture.
As Deloitte notes, companies believe that communication will be vital to the growth of professionals going forward. As these tools move further into the workplace, it is important that companies leverage them for employee growth by incorporating new platforms into its plan as the trends necessitate.
Reimagine CSR Efforts
Deloitte makes it clear and I couldn't agree more: "Corporate citizenship is no longer simply a corporate social responsibility (CSR) program, a marketing initiative, or a program led by the CHRO. It is now a CEO-level business strategy—defining the organization’s very identity. Issues such as diversity and inclusion, gender pay." Citizenship records impact the success of companies, and there are bottom lines and “best places to work” reports to prove it.
Companies are listening to the data that show negative scores impacting their revenues. One such industry to listen is the investment world. Deloitte noted that a study of 22,000 professionals in the space revealed a 78% increase in CSR-focused efforts. However, a sizable level of work remains to be done. While 77% of these global respondents cited social responsibility as an importance, 56% said these programs were not a focus, undeveloped or not invested in within their company.
Today, companies benefit from lasting relationships with like minded causes. One-off collaborations used to be the trend. However, today, organizations on both sides benefit from sustained, long-lasting relationships. The most successful partnerships tend to be with causes that speak to your employees that allow them to use their own skills or ones they would like to use. Additionally, efforts around donation matching and other measures have encouraged participation amongst the team. By combining these efforts, your organization can develop lasting ties with quality organizations with engaged employees ready to participate.
Get the Team Involved
Speaking of participation, whether expanding corporate responsibility or promoting professional development, getting the team involved in the process increases the odds the team will buy into your efforts for the long haul. The above ideas detail some of the new and evolving ways a company can promote culture and professional growth. However, the common approach alone won’t work in every situation. Each team is different and will respond as such. Some require different elements to make the idea last. That’s where creative solutions become immensely important.
Think of your employees.
What do they enjoy most about the day? What do they express interests in? Is your office more creative or more conventional? Consider these aspects to unearth additional options to enhance growth. I’ve seen organizations develop company podcasts which involve employees from all departments sharing their best practices and day-to-day insights. In other cases, employee written blog posts help create content for the company while giving the individual an outlet to share their insights and even expand on their professional acumen in the process. In other situations, progress tracking boards, team discussions and perks can work in the right environment. Tap into what gets your team’s best reaction and try out some ideas.
When encouraging your team to grow, always consider the professional and human elements in play. How can this person develop in our company as well as in the community? How will they respond to a certain approach or idea? Considering these points helps management develop well-rounded employees that are ready to lead. Their leadership stands to benefit the company in the office as well as in the community. The efforts of individual workers and the brand as a whole let the community know what this company values - and it isn’t just their bottom line. However, seeing it grow alongside everything else doesn’t hurt.