From increasing productivity to decreasing the chances they'll leave for greener pastures, the benefits of keeping employees happy are well documented.
However, actually doing it is easier said than done.
At Software-as-a-Service provider iCIMS, CEO Colin Day has created a culture that's not so concerned with making everyone in the company happy, but rather making the best employees happy.
"Everyone wants to be on a team where people do their work and like, maybe even love, their job," Day told BusinessNewsDaily.
Unveiling an internal website, iWatercooler, dedicated to sharing information with employees, is one tactic Day has implemented to boost staff morale.
"The idea behind the iWatercooler was to create transparency and let employees know what is really happening, whether it is about an employee leaving or joining the company or customers praising our work or telling us how unhappy they are." Day said. "I want our employees to know what is really going on and not be just a cheerleader constantly saying everything is OK."
Day said the company also works hard at recognizing valuable employees, albeit in their own quirky ways. The sales department has a ship bell that staff members ring every time they sign a new customer, while the research and development department has a gong that's hit when the team completes a feature for an upcoming release or product.
Day offers these tips to those companies trying to create a more positive culture around the office.
- Vision: Company leaders must have a strong executive vision of where the business is going and how it will get there.
- Leaders: Businesses need a strong director who puts the right strategies, systems, processes and people in place.
- Managers: Companies need strong managers who can help their employees do their jobs better by removing obstacles and providing useful training.
- Office space: Businesses need to provide employees with a comfortable office environment where they can get their work finished without distraction.
- Money: At the end of the day, employees want to feel they are earning a fair salary. Maintaining a strong compensation package keeps employees happy.
Headquartered in New Jersey, iCIMS has more than 1,500 clients, with offices throughout the U.S., Canada, the U.K. and China.