Businesses don’t create value, people do.
Never has this axiom been more important, according to the recently published 2017 50 Best Places to Work.
It is a statement of the bleeding obvious to say that change is a constant, however the point made in this enlightening report for Australia is that approximately just 21% of Australia’s GDP is accounted for today by industry, with the services sector contributing close on a whopping 75% of GDP and 70% of employment. The authors contend (and I agree) that the major barrier to entry in today’s economy isn’t our respective products or services, which can be easily imitated and replicated, it’s customer loyalty.
Pressures for growth and cost management remain a constant. Despite all the chatter and advances in AI and machine learning, in Australia’s economy today it is the degree to which people in organisations, irrespective of size, are aligned and engaged that is essential to continuing innovation.
Further, what makes this report valuable and interesting reading is that its reporting is not just focused on the large corporates. The report is broken into three sections:
- Companies with more than 1000 employees
- Companies with more than 100 employees
- Companies with less than 100 employees
There are a number of themes common to all companies named as the best places to work:
- Valuing diversity
- Importance of organisation-wide alignment to:
- Purpose and values
- Innovation and involvement of people, not only at senior management levels but across the organisation
- Trust and empowerment
- Mentoring and coaching – both internal and external
- Flexibility to allow for better work life integration
- Wellbeing, not just at work but in other parts of people’s life such as health, fitness, finance and education, and learning
Reading through the short synopsis on each of the 50 companies there is the opportunity to uncover a wealth of ideas that your organisation may want to adopt or adapt. Here are two that caught my eye:
- A couple of times throughout the year in the Nous Group a junior consultant has the opportunity to take on a strategy management role attending Exec Meetings and co-ordinating initiatives in the company’s business plan
- At MEC, people participate in a number of development phases to build and enhance their range of skills including coaching, managing, listening, and understanding personality. They cannot move to the next development phase until they accrue a certain number of points that are achieved through demonstrating the practical application of their newly acquired skills
The findings from this report are worth investing some time to consider along with thinking about how much more value the people in your business could be adding with further adjustment and continued fine tuning.
Viventé Australia enables leaders and managers develop the bond between people and performance, creating a powerful advantage: the synergy between people, leadership, management, and culture, produces performance that allows your business to achieve its best.