5 Strategies to Become One of the Best Places to Work

Translations Blog

Larry P. Heard

July 18, 2019

There has been an intense focus on the millennial generation and how the culture of a company impacts its ability to recruit and retain top talent within this group. In Transwestern’s experience, millennials want to fully engage with their place of employment. Companies must address their personal aspirations while still pursuing key corporate objectives. Success hinges on those two goals constantly merging together.

Our understanding of that connection has reinforced a company culture that is empowering, collaborative, and transparent. As a result, we’re proud to have been repeatedly recognized by Fortune magazine and Great Place to Work as one of the Best Workplaces for Millennials. We have created a workplace culture where our team members believe the company’s goals and reputation are aligned with their own.

Of course, creating that kind of organizational culture is easier said than done. Often, companies can lose the foundation of a positive work atmosphere as they grow and evolve. Leaders must be fully dedicated to preserving these key themes to ensure a healthy and productive environment. Commitment from leadership is essential to rising into the esteemed ranks of the best places to work.

Clearly communicate the company’s vision. Then create ways for team members to connect with that vision. The best places to work foster an environment that is rich with genuine, mutual respect. The key word there is “genuine.” People need to feel appreciated, respected, and valued.

Share success and show how individual contributions make a difference in the firm’s victories. People feel valued when they can clearly see how they personally impact the big picture. This will reinforce a team member’s commitment to that company.

Hold everyone accountable and measure performance in pursuit of personal and company goals. People want to know what they are playing for and how strong performance can enhance compensation. Clarifying this typically increases performance and overall job satisfaction.

Look for hidden opportunities within challenges. Every company will face significant obstacles at some point. The best places to work are those that can turn them into opportunities that are also valuable to team members. For example, wellness programs reduce corporate healthcare costs and improve an individual’s health and well-being. This communicates that the company leadership cares about the individuals personally.

Form groups that connect people in creative ways to promote key cultural elements, including networking, idea exchange, business development and community service. Encourage team members to join industry associations and provide multiple avenues for skills development.

Notice that none of these ideas mention ping pong tables or daily happy hours. Those gimmicks are not necessary to attract and retain young talent. These suggestions are more simply aimed at creating a company culture that promotes personal and corporate performance and productivity.

Implementing these strategies can help underscore to team members that they are genuinely valued personally and professionally, which will contribute to a stronger sense of loyalty. Being intentional with each person, regardless of age, about their role and career leads to a fully aligned and motivated workforce. That’s the real key to becoming one of the best places to work.

Larry P. Heard is chief executive officer of the Transwestern family of companies, which together comprise a diversified real estate operating, investment management and development organization.