In a for-profit business context as a non-profit, the quality of the workforce is often a key success factor. Indeed, the quality of employees working in a company has direct and measurable effects on several levels of the company. Employees can for example think of motivation at work can affect the cost of inventories of products through direct labor to expenses incurred in manufacturing or in the effectiveness of research and development processes in a technology company.
It is therefore essential for any type of entity to be able to attract but also retain quality employees in the company. The attraction and retention of employees can be optimized through several initiatives.
Benefits and Pensions
A benefit plan is often an important aspect that distinguishes the company wishing to retain their human capital in the company. A diet drug insurance, health insurance and reimbursement of expenses related to employment are all measures that are readily available to the company to ensure that potential candidates consider your business seriously and are in ensure that employees remain in the company to continue to enjoy the benefits
A defined contribution pension plan or defined benefit with employer contributions to plan assets is also a very strong incentive since these types of plans are relatively rare in the labor market and allow the employee to enjoy the employer contribution to its pension plan. This is a very interesting tool for the retention of long-term employees.
A workplace where employees are in harmony, or communication between staff is encouraged is a measure that mainly depends on the kind of governance present in the company. An employee will generally happier, and will tend to stay with the company if it is able to communicate its expectations and needs to superiors without fear. The working atmosphere is also an element that is increasingly considered an important decision factor for potential candidates and is increasingly mediated through platforms like Glassdoor example.
Corporate Culture and Senior Management
The priorities and values put forward by members of governance is one of the elements that is most benefit the company as a whole. Indeed, the more the values of governance are positive (communication, respect, environment) and these values are effectively propagated to the lower echelons of the company, most employees will respect the management and will be motivated to work in harmony to achieve the business objectives. Hence the importance of delivering quality managers, executives who understand the importance of corporate culture and its potential effect on the development of the company and its ability to attract and retain quality employees in your business.