5 Things That Make Good Companies Great

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5 Things That Make Good Companies Great

Things successful companies do
If you look at the world’s current top performing companies, you may be tempted to think they their success comes down to a complicated array of factors. Perhaps it’s their product, their marketing, their research and development. While all of these and other factors obviously have a role to play, the secret to a company’s success ultimately comes down to their approach to their human resources. Here are the five leading HR habits of highly successful companies:

1. They define their vision, mission and goals clearly

A ship without a clear-sighted navigator or with a broken rudder is sure to lose its crew as soon as they see that it’s lost its way. Not only should a company clearly define its vision, mission and shorter-term goals in such a way that they are unambiguous and inspiring. It also needs to communicate these to the team with absolute clarity, and be sure to get their buy-in. Committed staff who know where they’re going will put in more time and effort than you could ever hope for.

2. They foster good, two-way communication

Successful companies may not necessarily do away with traditional hierarchical structures (though some of them do). What they all do, however, even if they maintain these reporting structures, is they keep channels of communication wide open in all directions, vertically and horizontally. They openly encourage the flow of ideas, feedback and even grievances. This open communication provides a safe environment that works wonders for productivity and the constant improvement of company procedures and outputs.

3. They show employees they are valued

Everybody wants to know when they’re doing a good job. It’s the best spur towards continued good performance. Monetary rewards and incentives go a long way but the mere recognition of an employee’s contribution creates a high that team members will happily strive to recreate.

4. They practise individual performance-based metrics

Companies that recognise the individuality of their team members and work to measure their performance accordingly, are guaranteed to get the best out of everyone. A stock standard check list to which everyone has to adhere is likely to miss the best and most unique assets of many staff members. HR departments that carefully profile team members and work to motivate them and measure outputs accordingly will meet with great appreciation and success.

5. They offer opportunities for growth and development

Companies that consciously work to remove glass ceilings are likely to keep their employees very happy. People who do not grow and develop, get bored. They don’t want to continue doing the same work. They want to acquire new skills, learn new things and perhaps collect a few certificates in the process. Regular, training and on-the-job education programmes not only incentivise staff, they also increase the company’s human capital. Contact us to find out how we can help you devise a teambuilding programme to help you emulate and surpass the practices of the world’s top companies.