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.
- 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.