Business Automation and Software Blog

What “A Great Place to Work” Means Today

Posted by Robert Baran on Thu, Oct 21, 2010 @ 02:49 PM

In the new competitive landscape, the days of concierge service and back rubs for accounting staffers may be over. But has building the so-called "great place to work" fallen by the wayside as a competitive necessity for firms and finance organizations in this economy?

In recent years, various media outlets and organizations have rated the elements in compensation, benefits, working conditions and corporate culture that add up to a "great" or "best" place to work.

Considering the realities of today's economy, does a "great" place to work actually mean anything anymore? The answer is yes. Creating or working in a 'great place' is more important than ever.

At the core of success for any company is having a great team. That means a team that is motivated and engaged in helping to move the business forward, and actively participating in creating an awesome client experience. Having team members who go the extra distance for a client, to proactively engage where and when they can, is ultimately what increases client satisfaction and retention.

Still, the ’great place’ term has taken on a bit of a redefinition and the characteristics of a great place to work have changed.

The concept of receiving respect and treating employees like ladies and gentlemen have taken on a higher level of importance. Despite a tight job market, top-flight talent is still hard to find and keep, making corporate culture a competitive differentiator. When it comes to human capital the A and B players are still capable of moving around and commanding interesting offers. High-potential people don't like being yelled at, screamed at or treated like third-class citizens. Actually nobody does, but the best people have options even in this economy.

Building the reputation as a great place to work is critical to the future of the company. The simple truth is that people are motivated for their own reasons. What motivates people to perform at their very best is working in an environment where they feel valued, and that what they do makes a difference to the overall firm mission and success. And, as a result, they grow professionally and personally. A great firm brings out the best in people, can yours afford anything less?

Adapted from What “A Great Place to Work” Means Today on www.cpa2biz.com by Rick Telburg