Can You Create A Great Place To Work? with Michael Bush
Jul 9, 2021
auto_awesome
Michael Bush, CEO of Great Place to Work and former member of President Obama's white house, discusses the business case for companies to prioritize people's well-being, the impact of the global pandemic and Black Lives Matter on workplace happiness, and offers tips for building trust in the workplace.
Companies that prioritize being a great place to work have strong financial performance.
Trust is essential to a positive work environment, and organizations that prioritized employee well-being during the pandemic saw an increase in trust and leadership credibility.
Deep dives
The Business Case for Great Places to Work
Great Place to Work has gathered over 30 years of research, showing that companies that prioritize being a great place to work also have strong financial performance. Publicly traded companies meeting the criteria for a great place to work outperform common stock indices by a factor of at least three to one. Private companies also show a high correlation between employee experience and financial performance. It is clear that treating people well is not only intuitive but also beneficial for business success.
Factors that Help People Feel Happier at Work
Great Place to Work surveys over 10 million employees in over 100 countries each year. The data consistently shows that trust is essential to a positive work environment. People want to be trusted and also trust the people they work with. Respect from leaders, credibility, and fair treatment are key factors for employee happiness. Enjoying the company of coworkers and feeling a sense of pride and camaraderie also contribute to overall satisfaction in the workplace.
How the Global Pandemic Impacted Workplace Trust
The COVID-19 pandemic had a significant impact on the employee experience. Companies with a high level of trust in their workplace before the pandemic experienced even higher levels of trust during the crisis. Organizations that prioritized employee well-being, cared for their employees, provided support, listened to their concerns, and created a safe environment saw an increase in trust and leadership credibility. On the other hand, organizations with a low level of trust struggled to build and maintain trust during this challenging time.
Building Trust in the Workplace
Building trust in the workplace starts with leadership. Leaders need to prioritize the well-being and development of their employees. They should provide recognition and rewards equally, listen with empathy, and create opportunities for open and safe conversations. Connecting employees to the purpose of the organization and making them feel welcomed and valued are also crucial. This requires leaders to be compassionate, empathetic, and genuinely caring about their people. Trust can be built by consistently practicing these behaviors and actively listening to feedback from employees.
Michael Bush is the CEO of Great Place to Work. The global research and analytics firm that produces the annual Fortune 100 best companies to work for list, and dozens of other distinguished workplace rankings all over the world. Driven by a love of business and an unwavering commitment to fair and equitable treatment, Michael joined Great Place to Work as CEO in 2015, bringing 30 years of experience leading and growing organizations. He’s also a former member of President Obama’s white house business council, and a founding board member of the private equity seed fund, Fund Good Jobs, which invests in small Inner-City businesses.
In this week’s episode, we discover what the latest research suggests creates a great place to work and why prioritizing people’s wellbeing improves productivity and profitability.
[02:32] - Michael outlines the business case for companies to be great places to work.
[04:39] - Michael shares the evidence-based factors that help people to feel happier at work.
[08:18] - Michael explains how the global pandemic, Black Lives Matter, and a tense political environment impacted the happiness of workers.
[13:28] - Michael explains why organizations who prioritized their people’s wellbeing over their financial wellbeing – even during uncertain times – fared better over the past year.
[16:35] - Michael offers some tips for how workplaces can build trust with their people.
[26:34] - Michael shares examples of how the best places to work are helping workers navigate the transition to a ‘new normal’ or work post-pandemic.
Thanks so much for joining me again this week. If you enjoyed this episode, please share it using the social media buttons you see at the bottom of this post.
You can also listen to all the episodes of Making Positive Psychology Work streamed directly to your smartphone or iPad through stitcher. No need for downloading or syncing.
Until next time, take care! Thank you, Michael!
Get the Snipd podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share & Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode