Important subjects of culture like mapping and measurement of workplace culture were spoken about in the first two parts of the three-part webinar on culture. In the third part, yet another crucial aspect of culture, the challenges, and opportunities of benchmarking was discussed at length.
Jamie Notter, the author of best-selling books “When Millennials Take Over” and “Humanize” and the co-founder of WorkXo, shared that benchmarking generally comes into the picture as metrics never suffice the conclusion of workplace culture. There’s always a comparative element involved, that can only be fulfilled by implementing benchmarking. He went on to add that one should always first benchmark against themselves to get best results.
Every organization, industry, and management is different and so, benchmarking against other industries or other organizations may cause harm to you in the longer run. He explained this statement with an example of an organization that benchmarked against themselves and gained amazing results after doing so.
Simon Sinek, British-American author, motivational speaker and marketing consultant, in one of his interviews, spoke about Millennials at length. He discussed the role of corporates in encouraging millennials to be better at their jobs and in achieving goals to the best of their abilities.
Did you know? Facebook has the World’s longest employee retention rate with employee tenure lasting over 2 years at an average. In contrast, Uber is said to have one of the lowest employee retention rates in this category with about 1.23 years being the average employee tenure span. This data is as per Paysa, a company that reports on employee statistics.
Employee retention: you can’t go overboard with it and you can’t undermine it. It should be a balanced process, if an employer goes overboard with it, they give an impression of being too desperate to retain the employees and if they undermine it they look like, employees are not their priority. ”