Fun equals money says UK's best workplaces
Article date: Mon, 07 Jun 2010 12:24 GMT
Fun and friendly workplaces are the route to economic recovery, according to some of the UK's leading businesses.
With disengaged employees costing the British economy between £59.4billion and £64.7billion a year, companies must create an encouraging environment to achieve a higher level of performance and fundamentally improve company revenue.
Over the past decade the Great Place to Work Institute has identified more than 500 exemplary workplaces who demonstrate a passion for providing an inspirational and inclusive culture. This year's finalists have shown that earning and sustaining the respect of their employees is essential when competing at the top level.
At UKFast adopting a style of upside down management has helped to empower employees and develop a level of trust which has seen profits grow in spite of the recession. Through motivational tools such as regular employee forums the hosting provider has collected the title of the UK's 'Most Fun and Friendly Workplace', recognised by the Great Place to Work Institute.
Lawrence Jones, managing director of UKFast, says, "The relationship between employee well-being and productivity is vitally important and I think that many small and medium-sized businesses need assistance now more than ever before.
"At UKFast the team has the opportunity to tell me personally what's going right and what isn't. By being involved in the company's growth and development they care about the brand and are committed to delivering on our company promises."
Also in the UK's top five 'Fun and Friendly Workplaces', Impact International credits regular social events, such as lunchtime drinks, triathlons and family barbecues, as encouraging the work time culture to permeate into employee social lives. By strengthening relationships in and outside of the office Impact has achieved an attrition rate of less than five per cent.
David Williams, founder and CEO, says, "These strong relationships mean that Impact people work effectively with each other and most importantly with our clients. Many of our clients see us as an extension of their own teams; partners and friends that enjoy working together. We find that this kind of close partnership with our clients leads to long term business from them, referrals into new streams of revenue and an overall growth in business.
"We have created our business for the people in it - if you don't enjoy what you do or working together to achieve it, then what's the point? This is an approach that has paid off for us over the years in terms of retaining talent as well as clients."
Contributing 43 per cent more revenue than their disengaged colleagues, engaged employees work as much for each other as the business itself. Mohamed Mansour, managing director at Baringa Partners, recognised as the UK's Best Workplace, believes that creating a supportive and collegiate environment is intrinsically linked to achieving strong bottom line numbers.
Mohamed says, "All of our people have a tremendous amount of pride in the company and a strong desire to see it continue to succeed, which permeates the work they do for our clients, who in turn recognise how motivated our staff are to achieve the best answer for the client. That circle of success, from pride to achievement to recognition back to pride, is core to our business, both culturally and commercially."
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