As a president, CEO, and board member of several successful companies, Demos Parneros highlights the common thread of how a caring workplace culture underpins business success in any sector. It fosters individual growth, loyalty, dedication, and increased productivity in employees. Demos shares 5 steps to cultivate a better workplace culture to reap its business benefits.
What employees expect from their workplace culture has changed substantially over the last few years. Simultaneously, many studies have shown the benefits of having a warm work culture. Employees who feel cared for and valued, are given opportunities to develop, and who receive recognition for a job well done are generally happier, loyal, and more committed to supporting the business. They tend to be more productive and efficient, unafraid to speak their minds if they feel something isn’t right or something new should be tried. They are more likely to learn from and collaborate with others.
Today, workers expect more from a job than a paycheck. They are looking for other, more intangible benefits.
A sense of belonging
We spend so much time at work and we want to feel comfortable and appreciated. The more accepted and included employees feel in a culture, the more likely they are going to stay in it. That means employees won’t begrudge working a few extra hours here and there, and they won’t be too quick to find alternative employment. A higher retention rate means lower recruitment costs and less disruption for the team overall.
A commitment to success
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When employees feel valued, they in turn will value their employers, and loyalty like that cannot be bought. Truly loyal employees will be genuine advocates inside and outside of the workplace, and they will work tirelessly to ensure customers receive great service. If the business hits a challenge, loyal employees will work hard to overcome it. A good workplace culture will enable employees to feel as though the business’s success is their success.
A great reputation
Just as unhappy employees will tell others how they feel, so will happy employees. Positive reports about a business, even from an employment perspective, can contribute to its public image, making it more appealing to potential customers.
5 Steps to a Better Workplace Culture
- Allow flexibility. With the post-Covid trend towards remote working and homeworking, employees may have much to gain from flexible working arrangements. By offering this, you potentially expand the pool of talent youattract and improve the happiness of your existing employees.
- Always keep an open dialogue about what’s working or not working, to show you are prepared to continually strive in your employees’ best interests.
- Accept mistakes. Encourage people to fail often, so they can learn. Remove the stigma associated with failure to free up your employees to think more courageously and innovatively.
- Develop people. Continually explore ways to upskill your people, keeping them interested, engaged, and able to flex to the needs of the business. Provide mentorship and regular supportive feedback to help people progress with a feeling of security.
- Be inclusive: Build a culture that includes and values every individual
The benefits of having a supportive and caring workplace culture should not be underestimated, especially when it comes to retaining quality people who can lead a business to great success. Follow the above steps and you’ll soon reap the rewards of an inclusive, cooperative, and caring culture.
Demos Parneros
About the Author | Demos Parneros
Demos Parneros is an experienced and innovative retail and e-commerce leader, helping Staples grow from a startup to a Fortune 100 company, serving as President of North American Retail and E-commerce businesses. He subsequently took on the role of CEO at Barnes & Noble, leading a focused transformation plan, which eventually led to the sale of the company. In addition to previously serving on several high-profile company boards, Demos now leads CityPark LLC, which has invested in leading-edge consumer and retail tech startups.
