The Value of Company Culture

developing a company culture saves money

Given America's current strong economy and low unemployment rate, sweeping contractors will face fierce competition when it comes to finding good workers in the coming year. This underscores the importance of developing a company culture that keeps your current employees happy.

The Society for Human Resource Management estimates that for workers making under $30,000 a year the replacement cost will average 16% of their annual salary. For mid range positions that will jump to 20%. In a nutshell, it is much less expensive to keep your current workers happy than it is to hire new ones.

When you are forced to hire new employees, due to attrition or business growth you will find the competition will be more fierce than ever. You may well have to consider people with little experience as well as with marks on the record, such as prison time for long periods of unemployment. You may also have to offer referral bonuses and increase your pay scale. If you do the latter, be sure to keep your pay structure equitable throughout your current employee team or that will create big problems when any discrepancy is discovered.

In order to keep the people you have now, make sure you have a feedback loop within your organization so employees can make you aware of any concerns they may have. You also want to make sure your workers have the ability to provide feedback on the jobs they do, so they know you will give due consideration to any ideas they have for improvement or any complaints they register.

In today’s fast-paced world you need to be aware of current industry trends and be exposed to the emerging ideas that are vital to keeping your business running smoothly. At the World Sweeping Association we provide Member Updates via email twice per month, as well as mentor connections between member contractors, among many other benefits. Our central goal is to help our member contractors thrive no matter what the future brings.