What Makes a Great Place to Work?

Read this section to look at benefits and some factors that make a business a good place to work.

Key Takeaways

  • Employees report that they're motivated to perform well when they're challenged, respected, treated fairly, and appreciated.
  • Other factors may contribute to employee satisfaction. Some companies use job redesign to make jobs more interesting and challenging.

    • Job rotation allows employees to rotate from one job to another on a systematic basis.
    • Job enlargement enhances a job by adding tasks at similar skill levels.
    • Job enrichment adds tasks that increase both responsibility and opportunity for growth.
  • Many organizations recognize the need to help employees strike a balance between their work and home lives and offer a variety of work arrangements to accommodate different employee needs.
  • Flextime allows employees to designate starting and quitting times, compress workweeks, or perform part-time work.
  • With job sharing, two people share one full-time position.
  • Telecommuting means working from home. Many employers also offer dependent care, paid leave for new parents, employee-assistance programs, and on-site fitness centers.
  • Competitive compensation also helps.
  • Workers who are paid by the hour earn wages, while those who are paid to fulfill the responsibilities of the job earn salaries.
  • Some people receive commissions based on sales or are paid for output, based on a piecework approach.
  • In addition to pay, many employees can earn financial rewards based on their own and/or their employer's performance.
  • They may receive year-end bonuses, participate in profit-sharing plans (which use predetermined formulas to distribute a share of company profits among employees), or receive stock options (which let them buy shares of company stock at set prices).
  • Another component of many compensation packages is benefits – compensation other than salaries, wages, or financial incentives. Benefits may include paid time off, insurance, and retirement benefits.