Ever wondered what makes a strong company, strong? You’re not alone. For years, unsuccessful brands have been chasing the “secret formula” used by Apple, Amazon, Zappos, and others. Here’s what separates the good from the mediocre.
Market And Customer Impact
Brands that are wildly successful “wow” their customers. They don’t just make them happy or satisfied. They try to astonish them. Ask yourself: will you have the opportunity to make an impact on your customers? If yes, then this is a good sign. If not, then you had better change something about your company, and quickly.
Not only do customers need to be astonished, your employees need to be too. When customers are well taken care of, it has a way of permeating the culture and boosting employee morale. People feel proud to work for the company. Even if employee perks aren’t overflowing, the fact that the employee knows they’re doing the right thing for the customer is often a great reward in and of itself.
Challenge Yourself And Your Employees
Never stop learning and growing. If you can, encourage your employees to go back to college and get a degree (if they don’t already have one). Encourage them to continue their education so they can advance in the company.
Your company should give your employees the opportunity to seek out new challenges outside of formal education, too. Maybe this takes the form of internal training and development so they can move up the ranks. Maybe it’s ongoing performance reviews so they can get regular pay raises. Maybe it’s a tweak to the benefits package, or an increase in job responsibilities so they can be continuously challenged at work.
Respect At Work
You should value your employees. If they don’t feel valued, they will end up feeling ignored and unappreciated. Not only does this kill employee morale, it will eventually result in a lower quality of work from employees. Regardless of their gender, ethnicity, or background, you should always show respect, and reward employees for a job well done.
Look for ways to invest in your employees.
Values At Work
Some companies, like Hudson Bearings, are model companies to work for because of their internal values.
Hudson Bearings was a pioneer in the ball transfer industry. It fabricated its first products in 1969 and quickly gaining a reputation for quality and exemplary customer service. The company was family-owned, and the business grew rapidly. But, the company never forgot its employees, and the contributions they made to the business.
The business was eventually passed on to the next generation who oversaw an expansion of the heavy duty product line and new distribution channels, and then purchased in 2009.
Your own company should have values that align with your personal values. And, that helps establish the culture of the company. Ethical business practices, sustainability, and community impact are a few examples of things that might be important to you and your business. If you don’t see these things reflected in your business, you might not feel very connected to it.
Mentorship In Your Business
You should support your employees through the managerial network. Do you have a mentorship program? Do you have an open-door policy where employees feel comfortable coming to you to talk about work (or non-work) issues?
If not, consider it. Your employees should also have a feedback system they can rely on so that they get honest feedback, enabling you to achieve your professional goals. While it might sound obvious, this is where a lot of the gaps in employees’ experiences across the industry happens. And, it eventually ends in frustration on the employee’s part, and an eventual departure.
Since you probably spend more time working than doing anything else, making sure that your business is a perfect reflection of you and your values is important. Many business owners neglect this, instead focusing on growing the company’s sales and revenue. Along the way, the company “loses itself,” and forgets what it’s about.
Employees stop producing, business lags, and the company suddenly starts to slide backwards. And, management can’t figure it out. Often, the problem is the culture of the company, and a lack of focus about what the business exists for. Once you clearly define your purpose, your company’s values, and mission statement, and you have it written down, revisit it. Make sure you’re living those words, and make sure your employees feel it.
Your company needs to make sure employees are invested in you. You need to invest in your employees. Together, you’re a family.
Liam Mann leads a hectic life as a manager and finds writing articles on business topics at the end of a manic day relaxing – It’s cheaper than going to the local bar, and his wife is happier with him which is always a bonus!