Investing in Workplace Experience
Why this investment is no longer an option.
People have asked me what my advice is for smaller companies, or for companies who “don’t have the budget” for a Workplace Experience.
Allow me to answer this through a point made by the CFO and Co-president of Workday (a company among the top 10 Fortune 100 Best Companies to Work For in 2018), Robynne Sisco. She cited that two thirds of her company’s cost are on manpower, and therefore focus on this investment just makes logical and financial sense. She stressed the time-proven equation: happy employees = happy customers = better profits = happy shareholders.
This is the case for most companies, regardless of size. Wouldn’t you want to make the most out of your company’s largest investment?
Shamim Mohammad, SVP and CIP of CarMax (a company also included among the 2018 Fortune 100 Best Companies to Work For), pointed out that in order to achieve your business strategy, you need to be able to attract, develop and retain the right talent. And that the only way you can do that is to cultivate a corporate culture. “Great culture is no longer an option.”
The reason why cultivating a great corporate culture is many times brushed aside as being “unimportant” is because it is so difficult to do, and requires consistency and conscious effort across the entire company. But if you think that your company can survive without a culture, you may be in for a surprise.
To continue to quote from Robynne Sisco, “Every single company has a culture. The question isn’t whether you have a culture. The question is who’s defining the culture? Are you going to just let it happen? Or are you going to be intentional about it, and drive a culture that will help your business be more successful?”
The company called Great Place to Work conducts the largest employee survey in corporate America, interviewing over 5 million employees from over 6,000 companies in 55 countries, and their statistics from 2016 to 2017 reveal that companies which focus on providing a great corporate culture achieved 26% revenue growth, versus 5.5% revenue growth by the best performing companies who don’t.
Statistics already exist which prove that investing in your employees through providing a great corporate culture increases corporate revenues, and retains the best talent. Here’s a clincher: do you know who else is fully aware of this? Your competition.
Today’s most talented workforce is no longer interested in working for a compnay because of the compensation package and benefits, they need to feel personally invested in its mission.
Great Place to Work’s CEO, Michael Bush, said in a keynote address in a Workday Rising summit earlier this year, “You want to be connecting people to the strategy of the company all the time. When people say ‘I’m working too many hours, I need work-life balance’, our research has proven their work has no meaning. Because when peoples’work have meaning, they’ll work 80 hours a week and say ‘I’m tired. I’m fatigued. But that was a hell of a week!’. That’s what happens when the work has meaning.”
The importance of a corporate culture cannot be emphasized enough. Workplace Experience is the tangible, physical translation of this culture. You cannot have a culture that exists in programs and technology, but is not supported by the workplace environment. As the interior spaces and elements of your own home define the personality and dynamics of your family, so does the corporate workplace define the company’s. Therefore investing in a workplace that expresses, encourages, and supports the company’s culture is, like the culture itself, not an option.
And so here is my advice for companies who “don’t have a budget” for Workplace Experience:
Let me start by emphasizing that Workplace Experience is not about spending on subsidized food or a corporate gym or a game room in the office. Workplace Experience is an extension – a manifestation – of your corporate culture. Don’t make the mistake by thinking that providing workplace “perks” will compensate for having a culture. That’s like saying you want to achieve the look of being physically fit without actually undergoing any physical effort.
Your company has already developed its own culture, whether you are cognizant of it or not. I advise you to start with that. Become deliberate about defining the culture of your organization. Determine who you are as a company and how that translates to who you are to your customers as well as your employees.
If you stay authentic to that, you will find that the physical workplace – its environment and all its features – will simply fall squarely into place. Many times, it won’t even cost what you initially thought; but always, the dedicated investment into your employee’s experience will yield triumphs and successes that not only have been statistically proven, they may even surprise you.









