Best Practices for Building an Effective Workplace Culture

Best Practices for Building an Effective Workplace Culture

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Tom Gimbel Founder & CEO, LaSalle Network

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

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

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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

So how do you retain your talent and attract top talent?

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Culture.

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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Fire Fast • Bad hires cost the company money

• Bring down overall morale of team and coworkers

•  Impact on culture

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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

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

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.

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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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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Questions?

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24 @LaSalleNetwork @TomGimbel

Thanks for joining! #cultureisking