Ron Grey, Ph.D. Senior Vice President, Great Place to Work
If you're looking for a strategic competitive advantage and enhanced business results, invest first in building a high-trust culture and great workplace. Recent research by Great Place to Work with a large national Canadian retailer identified compelling statistical relationships between workplace trust and key performance indicators (KPIs), including retail sales performance, customer service, employee turnover and workplace illness.
Here's just one example of how strongly trust relates to sales performance. Each dot represents a retail store's Trust Index employee survey score and its corresponding KPI results. Notwithstanding certain "outliers," the stronger the trust levels in retail stores, the stronger their sales vs. budget. The .49 correlation between trust and this KPI is highly significant statistically, occurring by chance only 0.1 per cent of the time.
Research by Great Place to Work shows compelling statistical relationships between workplace trust and key performance indicators including sales vs. budget results.
The stronger the culture of trust in retail stores across Canada, the stronger the business performance. Strengthening key management practices that drive high-trust cultures fuels dramatic gains in sales growth and productivity, customer satisfaction and reductions in employee turnover and workplace illness. A "one size fits all" approach won't, however, be most effective as the research highlights different keys to success for each specific KPI. Here are just a few of the many research insights uncovered for driving improved KPI results.
If you want to:
- reduce employee illness and absenteeism, create a workplace that is not only physically safe, but also fosters work-life balance, straight and honest feedback, and a reasonable rather than exhausting work pace.
- increase unit sales per transaction, develop a culture that trusts employees and delegates lots of responsibility.
- reduce employee turnover, ensure flexible work practices, strong two-way communication, caring/support, hiring the right people, and corporate social responsibility.
How employees perceive and experience their corporate culture, particularly around relationships and trust, greatly influences business performance. Advanced analytics for people management offers business leaders a fact-based roadmap for achieving greater business success and employee engagement.
| THE SEARCH IS ON: REGISTER FOR THE 2016 PROGRAM |
Do you know of a great workplace that should be considered for next year’s competition? It’s easy to participate. Here’s how.
Step 1: Register Online. To participate in the 2016 Program, simply complete the online registration form at www.greatplacetowork.ca.
Step 2: Employee Survey. Organizations participating in the list process are evaluated, primarily, with an employee survey called the Trust Index. This is worth two-thirds of your final score.
Step 3: Culture Questionnaire. The Culture Audit is an open-ended questionnaire that collects detailed information about the people practices at your organization. This submission reflects the remaining one-third of your score.
For more information, call (866) 712-0630 |
This content was produced by Randall Anthony Communications, in partnership with The Globe and Mail's advertising department. The Globe's editorial department was not involved in its creation.