When it comes to managing employees, your organization might try a variety of tricks and strategies from time to time, but ultimately your goal in human capital management is the same as it’s ever been – you want to have the right strategies in place for retaining your employees, keeping them happy and encouraging them to work productively each day.
There’s a way to achieve all of the above, and it can be summed up in just one word – culture. If you have a strong culture in your office, your business will almost assuredly be in a good position for success.
According to WorkAwesome.com, the advanced HR metrics clearly support the value of culture. The news source reported that per University of Warwick polling data, job turnover rates are as low as 14 percent among organizations with strong work culture, whereas when culture is poor, turnover is closer to 50/50. The university also found that happy workers are 12 percent more productive each day than unhappy ones.
When you think of “company culture,” you might think of hip, trend-setting companies like Google or Apple, where employees dress casually and have the freedom to set their own rules. But you don’t have to be one of those titans of the business world to have a solid cultural foundation. Aleksandr Peterson, a technology analyst at TechnologyAdvice, told WorkAwesome that all you have to do is pay attention to your employees’ needs.
“How can you define and execute company culture in a way that addresses both its operational and psychological elements?” Peterson asked. “From a psychological standpoint, it’s pretty obvious – care about your employees, and factor their opinions into how the workplace is managed.”
Now, here’s the secret – if you’re looking to keep closer tabs on your employees and their preferences, you can do so by using better HCM software within your organization. Peterson shares five ways that a better HCM solution can improve your culture:
Strengthen recruiting tactics
A good HCM tool will help you gauge the strengths and areas of improvement for your employees, then find job candidates who will fit nicely alongside your current contributors. Don’t just hire based on hunches anymore. At Ceridian, we recently shared how assessing communication styles in job candidates can help in creating better teams that achieve more.
Improve performance management
According to WorkAwesome, 49% say their performance review process is ineffective. Too many companies have old, stale processes for reviewing the performance of their employees. You can strengthen your approach by encouraging a more goal-oriented progress that you can their track and measure employee performance against.
Foster employee autonomy
A good HCM solution allows employees to manage themselves – logging their hours, submitting time-off requests, viewing their pay stub, employee benefits information, and more. This should lead to heightened employee engagement as it employees feel trusted and autonomous in the workplace.
Gather more feedback
Management should be a two-way street – you should be giving your employees feedback, but they should have a chance to share their opinions as well. Perhaps you should consider an HCM solution that makes that constant communication possible.
Improve workplace collaboration
Finally – no one employee operates in a vacuum. Every great organization needs to put tools in place to makes it easier for team members to share information with one another, work together and achieve together. A tool that allows employees to share information and comment similar to a social media stream creates a more open and collaborative environment.