What does it mean to work for a “dream company” that promotes employee satisfaction, engagement and retention?
At a meeting of Atlanta Work Life Professionals, Lucy English, PhD, managing director of institutional research for Horizons Workforce Consulting, presented findings from a survey of more than 4,000 working adults. Those who believe they work at dream companies are much less likely to consider looking for a new job, tend to be more productive and are more satisfied with their health. People not working at dream companies were nearly 45% more likely to report having high levels of stress and 62% of those at dream companies are less likely to report being burned out by work in the past month. Employees working for dream companies are two and half times more likely to report that they “enjoy work so much it feels like play.”
Horizons Workforce Consulting is a division of Bright Horizons Family Solutions, a leading provider of high-quality child care, early education, educational counseling, and other services designed to help employers and families address the challenges of work and life. English explained that while not everyone can be in their dream job, all organizations have the potential to become dream companies.
What are the top three qualities of a dream company? According to this survey, they are organizations that:
- Really care about an employee’s well-being.
- Provide employees opportunities to learn and grow in their careers.
- Promote work-life balance.
At the meeting where English presented these findings, one woman shared that her current employer had given her time off when she needed to tend to the needs of her teenage son. Because she felt appreciated and supported, she later turned down a job for more pay at a competitor.
“Dream companies communicate a culture of caring and support that goes beyond the core of healthcare and 401(k) plans,” English said. “Employees at dream companies report having access to an average of nine additional benefits like flexible work arrangements, child care, elder care, educational advising services, paid parental leave and wellness resources. And, they are more likely to capitalize on these non-core benefits, which reflects a culture that encourages full usage of them.”
Following those top three qualities, the survey reported that dream companies also run effective meetings and communicate clearly.
Do you work for or own a dream company? What do you consider the qualities that make it that way?