"Top Workplaces" in a Tough Economy – Part 2

In my last post, I introduced a study conducted by the Detroit Free Press which identified the "Top Workplaces" in Detroit. They used a proprietary survey which asked employees about a variety of workplace factors, as well as their relative importance. It was the importance questions that really caught my eye, since they provide some insight concerning what employees are looking for from the companies they work for. So what did they have to say? Today I'll share the top two.

The number one, most important workplace factor was "I believe this organization is going in the right direction." This statement seems to speak to the trust employees place in their organization's ability to weather the economic storm, as well as the hope they place in their collective future. A truly great company is therefore one that can take the hard blows we've all endured, yet leave everyone believing that the future is still bright.

The number two spot had a question that was just as powerful and just as interesting. With only a one percentage point of difference, the second most important factor was "I feel genuinely appreciated at this organization." This is another way of saying, "my presence and my contribution matter." When you're just a face in the crowd, it's easy to feel disengaged. But when the people you work with—whether it's your manager, your peers or your customers—let you know that you provide them with real value, then it becomes easy to come to work every day. And the top workplaces are designed and managed in ways that allow everyone to make a difference.

Next time I'll do one more post on this study by sharing the third most important question, and as with the other two I've shared, it's a real building block for any enterprise that wants to thrive in today's complex world.

Jennifer

“Top Workplaces” in a Tough Economy – Part 1

I was commenting to Scott that all my blog posts start with research, but as a confessed "junkie," I find that research is a great source for shaping new ideas, as well as a way to catch a glimpse of what's emerging on the horizon. So imagine my delight when I opened the Sunday paper and found an entire section devoted to the "Top Workplaces" in Detroit! And there was so much in the coverage that I'll share it over several short posts.

My first observation is to say that Yes, there are still great places to work in Detroit, despite the difficult economic environment. In fact, 32,000 employees participated in the Detroit Free Press sponsored survey, which was used to select the best companies from each of three size categories (Large/500 or more employees; Medium/150 – 499; Small/up to 149).

The survey itself consisted of 20+ questions that looked at how employees feel about various workplace factors, such as their trust with leadership and opportunities for personal development. In addition, they were also asked to rate each question in terms of their importance.

Between the two lists, there were plenty of interesting insights, beginning with how the questions related to compensation and benefits stacked up. There was one question which asked whether the pay was fair, and another which asked whether the benefits were competitive for the industry. Typically, these types of questions get "negative" responses—most of us think we're worth more than our salary suggests. So I wasn't surprised to see these two questions in the bottom third.

I was surprised, though, where these two rated in terms of importance. In similar surveys, a key insight is that compensation is never the most critical, and that was true in this case. But in this economy, I thought they might at least be in the top quartile. However, I was wrong. They were dead last. So even when times are tough, the best places to work keep their employees by offering much more than a decent salary and benefits. And in coming posts, I'll pass along some info on what this talented group of employees value the most.

Jennifer

Turtle Thinking

I think some feel the signs of recovery are a little like Mark Twain’s quote, “Rumors of my death have been greatly exaggerated,” in that “rumors of the recovery have been greatly exaggerated.” It has been weird – lots of positive earnings reports, the market breaking 10,000, but consumer confidence falling. This may be because for the average person, it is still rough and scary out there.

But in the past couple weeks, I have been struck by a couple items which point to a deeper issue. The first was a letter to the editor of T&D, a magazine published by the American Society of Training & Development. The writer was basically disputing the trend data predicting a labor shortage due to retiring Boomers, mainly because all he could see day-to-day was people hanging on to their jobs for dear life. The second was a friend, the President of one of our partner companies, who said that most of his clients said they were planning on spending at the same level in 2010 as in 2009. Really? Your plan in a growth market is to spend as little as you did during the deepest recession in 60 years?! Hmmm…..

I am reminded of the 2005 Cornell University Study by Garrick Blalock, Vrinda Kadiya and Daniel H Simon that found that in the first 12 months after 9/11, anxiety about flying led to an increase in highway travel, and as a result, an estimated 1,250 adults died in traffic fatalities who otherwise wouldn’t have. The point is that when we are afraid, we lose our judgment – in this case, people opting for a less-safe mode of transportation.

I fear that we have been so affected (and programmed) by the 24 hour news cycle and the relentless reports of financial disaster, that many executives don’t see the recovery as it is beginning to happen. Those in the grip of fear will continue to make poor decisions, like opting to drive versus fly…..or failing to invest in your best people at a time you will need them the most.

Scott

What Older and Younger Workers Have in Common

Much has been written about the "generation gap," and its presence is as powerful in the workplace as it is in popular culture. Younger workers have no expectations of a "cradle to grave" work experience, and as such are actively seeking out organizations that will provide offer more than a paycheck.

But as different as the various generations may be, a new study from the Pew Research Center demonstrates that when it comes to the reason they work, there is actually one expectation that older and younger workers have in common, and it's an important one. This particular research explored why people work, and older and younger workers were asked to respond to eight different reasons. Only one from the list elicited a significant response from both groups: it was the desire 'to feel like a useful and productive person'. Across the board, workers of all ages want a job in which they can make a real difference.

It's also worth noting that this study was just completed, and reflects current attitudes. So while businesses are looking at the world through a very pragmatic, bottom line lens, their employees are still seeking something larger and more significant from their work. What an opportunity for businesses that can get past their own anxieties and lead in ways that allows the talent in their organizations to flourish and contribute in meaningful ways.

Jennifer