Employee Satisfaction and Retention

Looking for a company that values its workers? TopMBA.com looks at how employee satisfaction and retention are becoming priorities for many companies. 

Finding a company that values its workers is more important than you think. In today's dynamic employment market where 18 months can be a long time to stay in the same company, it's no wonder companies try to innovate new ways of retaining employees. Lack of career progression, benefits, and employee appreciation are a few of the many reasons employees leave companies.

A good employee will want to learn along the way, is ambitious and wants to invest time in training. He/She will want to develop leadership skills and a motivation to make the company a better place. He/She will also want colleagues to take advantage of the skills and knowledge gained in previous roles or in studies.

So how can you spot a good company? This depends on what you really value. The companies listed in Fortune's "100 Best Places to Work" vary greatly in terms of sector, but they all have one thing in common - dedication to employee satisfaction. Genentech, which ranks first on Fortune's list, succeeds partly because 95% of its employees are shareholders. Additionally, 20% of their work-week is dedicated to "pet projects". Of course it doesn't hurt that the company provides daycare for kids and has made-to-order sushi lunches. Wegmans Food Markets, which ranks second on Fortune's standing, charters planes for new employees to meet the company's CEO. In terms of career progression, while many "good" companies will provide training to keep employees challenged while climbing the ladder, sometimes such training doesn't provide enough of a boost. At this point, it's really up to the employee to undertake additional training, but this doesn't mean you shouldn't ask your company for assistance.If the business is keen to retain high-performing employees you stand a good chance of attaining support. 

Education - One route to promotion

Education can only brighten your outlook in a company, even if this just means meeting new business contacts. Executive education is one option. The realm of executive education encompasses a huge range of options. You may want to improve your management skills with a leadership class, or focus on personal development. If you're looking to pick up new skills, an almost endless list of courses exists, probably close to home. Finance, marketing, and information technology are just three of the myriad courses available to executives. Distance learning and online education are also viable options for those who want to advance in their own time. According to the latest survey of online learning in the USA, for example, more than 2 million Americans are opting for online learning, while on the Pacific Rim the amount spent on online learning is expected to triple by the year 2008.

Business education 

MBA programs in particular, are becoming accessible through online access. Thanks to the ease of delivery provided by the internet and its ability to enable students and academics to work online in virtual classrooms, distance learning students can now choose from a dizzying array of options, without losing out on professional advancement. The program offered by the Garvin School at Thunderbird in Arizona, USA, for example, allows students from all over the world to take part through its education portal, "My Thunderbird", which delivers some 75% of the program's content. The remaining 25% is provided through physical seminars which are held at the school's campus at commencement and completion, and at special centres in Geneva in Switzerland and Beijing in China in the interim.

Other business schools take a more relaxed attitude to allow students an easier balance between learning and the on-going demands of the office and family. At Henley in the UK, students are advised of a commitment to an average of ten hours per week over a three-year period, while Durham, also in the UK, allows participants to spread their program across an eight-year period. There is no doubt that education is an excellent way to climb the ranks of your current company, while providing skills for the future. Choosing the right company to join can be harder than you think. Make sure the company you choose allows for career growth while truly valuing its employees. And remember, a good employee is a happy employee, so if you think you won't be happy in a specific company, your job performance probably won't reach its potential.