Today’s SMBs are finding out that they need to establish an innovative work culture to achieve success in business. So, HR managers send out surveys to check the general workforce pulse. However, modern-day management must take more proactive measures. In this article at HR Technologist, Chiradeep BasuMallick discusses 5 metrics to help track how thriving your work culture is.
Measuring Work Culture
WorkXo, a startup, has come up with a working model and technology that has the potential to measure work culture. In reality, there are not many solutions out there to quantify employee satisfaction. Following are the 5 metrics that can, nevertheless, give you indications of how your work culture is:
Employee Recommendation: 25 percent of your organizational hires must be based on employee referrals. If employees like the work culture, they will recommend their loved ones and help accumulate top talents.
Shifting Domains: When the organizational work culture encourages cross-functionality, it improves interdepartmental relationships, shared ownership, and overall learning curve. If you stop employees from trying out new avenues, they will look for growth outside the company.
Employee Welfare Plans: If you have over 100 employees, Employee Assistance Programs are a necessity. By helping employees with legal, financial, and health challenges, companies can realize $6.47 ROI for every $1 they invest. Also, you will experience a rise in employee compliance and engagement.
The Rate of Attrition: When the organizational churn rate is over 7 percent, there is something wrong with your work culture. If employees have a decent salary, are satisfied with their role, and feel involved, they would not leave you. Though they would eventually do so, how you assist them during the exit process influences your current stakeholder relationship.
The Balance: Irrespective of the company size, employee wellness is the top priority now. There should be recreational activities to refresh and reenergize for the coming days. Working continuously accumulates stress that eventually reduces productivity and increases health issues.
To view the original article in full, click on the following link: https://www.hrtechnologist.com/articles/employee-engagement/5-culture-metrics-you-should-be-tracking-in-2019/