best practices for building an effective workplace culture
TRANSCRIPT
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Best Practices for Building an Effective Workplace Culture
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Tom Gimbel Founder & CEO, LaSalle Network
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LaSalle’s Stats • Average staff tenure: 4+ years
• Voluntary turnover: Less than 5% • Percent of management team promoted from within: 90% • Percent of staff engaged: 97%
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Join us! Questions? #cultureisking Follow Us!
@LaSalleNetwork | @TomGimbel Recording A recorded version of the webinar will be available after the event is over
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Agenda • Why build an effective workplace culture?
• How to build an effective culture:
• Hire slow, fire fast
• Show you care
• Implement 3E management system
• Over-communicate
• Identify motivators
• Conduct stay interviews
• Results of an effective workplace culture 5
#cultureisking
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Why focus on culture?
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2.0%
’01 ’02 ’03 ‘04 ‘05 ‘06 ‘07 ‘08 ‘09 ‘10 ‘11 ‘12 ’13 ‘14 ‘15
Bureau of Labor Statistics
National Quit Rate
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So how do you retain your talent and attract top talent?
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Culture.
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Hire Slowly • Have each candidate interview with at least 3
employees at different levels
• Assign potential candidates projects…then ask for their thought process
• Hire for soft skills, not just hard skills or experience
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#cultureisking
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Fire Fast • Bad hires cost the company money
• Bring down overall morale of team and coworkers
• Impact on culture
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#cultureisking
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Show You Care
Compassion Collaboration Competition 10
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3e Management System™
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Educate
Empower Empathize
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Educate Internal • Corporate grandparenting • Staff council • On-the-spot coaching • Training from leadership External • Industry associations • Management associations • Webinars • Conferences
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Educate
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Empower
• Involve talent in the company’s future
• Grant employees independence to take on team projects or to start their own initiatives
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Empower
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Empathize
• Employees have lives outside the office doors
• Build relationships • Encourage employee
friendships • Put yourself in your clients’
and co-workers’ shoes every day
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Empathize
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Over-communicate
• Open-door policy • Mentorship program • Company-wide
weekly meetings
• Get to know staff on a personal level
• Promote internal communication
• Give regular feedback
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POLL What do you think is the biggest motivator for your employees? a) Compensation b) Work life balance c) Professional development d) Recognition
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Identify motivators
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• Personal development
• Acknowledgement and respect
• Camaraderie and fun • Increased responsibility and challenge
• Flexibility and time off
• Compensation
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Stay Interviews • Identify motivators • Retain high potential employees • Engage staff • Pinpoint pain points • Find warning signs
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Does focusing on culture really drive business results?
Undoubtedly, yes.
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State of the Workforce
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Cost • Actively disengaged workers cost the U.S. between
$450B and $550B each year
• Companies that engage their workforce have seen up to a 147% higher earnings per share compared to competitors
• A culture of engagement can lead to up to 18% higher revenue per employee
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#cultureisking
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Takeaways • Hire slowly, and fire fast • Engage your back office so they feel integral to
success • Empower, Educate, Empathize • Over-communicate • Identify motivators • Conduct stay interviews
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#cultureisking
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Questions?
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#cultureisking
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24 @LaSalleNetwork @TomGimbel
Thanks for joining! #cultureisking