Happy staff can have a significant impact on business performance, a rather unsurprising, recent study by the Great Place to Work Institute has suggested.
The most recent study has shown that revenue, along with productivity was up by almost 15% in Europe’s best workplaces in 2009, despite the fact that 2009 saw many companies contracting.
The poll also suggests that the top workplaces enjoyed a low turnover of staff and an increase in hiring.
The research helped the group identify three key areas that make a company a great place to work:
- Employees must trust the people they work for.
- Employees must have price in what they do.
- Employees should enjoy being with the people they work with.
The Chief Executive of the Great Place to Work Institute, Tom O’Byrne, commented that all of the participating companies were striving for a place in the Best Workplaces rankings. However, Mr O’Byrne went on to add:
“The real value is in helping these companies to improve their business performance by adopting better processes and approaches to create their own great workplace. Awards are nice, but adding 15% to your revenues is the real prize for a business.”
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