From Benefits To People: How People-Centric Approach Wins

Give it a read: “Culture Up” is your go-to guide for startup success. This book emphasizes the vital role of culture and people. Packed with real stories, practical tips, and best practices, it’s a hands-on resource to help founders and managers build a strong company culture and find the right team. With a straightforward approach, “Culture Up” tackles one of the top reasons why 93% of startups fail in their first 3 years — making it an essential read for those aiming not just to survive but to thrive. Your go-to guide to business success!

Perhaps you are running a company where everything seems perfect. A company culture filled with ping pong tables, free snacks, and even nap pods. Your compensation is competitive, your benefits are excellent, and yet, employees keep walking out the door. Have you ever thought about why?

Sure, free snacks and nap pods are fun, but there is so much more you might be missing. The real issue lies deeper in the people-centric approach of your company culture.

Simply put, a people-centric culture or approach takes into account how employees would like to work and how to encourage them to work hard and do their jobs well. Studies show that people-centered organizations have many benefits, such as higher job satisfaction, lower turnover rate, and higher employee engagement.

A people-centric workplace culture focuses on employees and their behaviors first, as well as interactions with customers inside and outside the company, before focusing on profits. In its simplest form, it emphasizes the "human" element in human resources, leadership, and business relationship management.

Here's why this people-centric approach is essential:

Boosts Engagement and Productivity: Employees who feel valued and heard are more likely to be engaged in their work. They'll go above and beyond, contributing their ideas and efforts to the employer's success, leading to increased productiveness and innovation.

Reduces Turnover: High turnover forces companies to spend a lot on hiring and training. A people-centric culture promotes a sense of loyalty and belonging, encouraging employees to contribute to the company's success, reducing turnover, saving money, and ensuring balance.

Draws Top Talent: Good candidates seek more than just a paycheck in today's highly competitive business world. They want to work for an organization that respects them and invests in their development and growth. A people-centric culture will become an effective magnet, attracting and keeping the brightest minds.

Fuels Innovation and Creativity: When employees feel safe to express themselves and share their ideas, creativity flourishes. An approach that prioritizes people fosters teamwork and open communication, which results in breakthrough concepts and creative fixes. 

Builds a Stronger Brand: Team members who are content and satisfied become your brand's representatives. They talk positively approximately their revel in attracting new talents and, in contrast, the customers and other stakeholders. This free-of-cost word-of-mouth and goodwill reinforces your brand's credibility and fosters confidence.

But how do you create a people-centric culture? Here are some key steps:

Focus on employee well-being: Offer competitive reimbursement, benefits, and a combination of work and life balance.

Invest in the development of employees: Provide training, guidance, and possibilities for growth.

Empower your employees: Give them ownership of their work, autonomy, and a voice in decision-making.

Foster open communication: Encourage feedback, transparency, and honest conversations in and out of the organization.

Recognize and reward achievements: Celebrate individual and team successes to boost morale and credibility.

In short, caring about people and being people-centric is not a one-time thing. Rather, it is an ongoing process that requires continuous effort and dedication from management and leadership.

Indeed, the advantages are clear: a healthier, happier and more engaged staff, and improved innovation.

Therefore, instead of focusing on perks and benefits, adopt a culture that values its people, its employees, and its staff. Invest in the good of your people to create and foster a culture that acknowledges and embraces their efforts to watch your business soar to new heights.

It's no longer about the beanbag chairs or the ping pong table. It is more concerned with the people who make use of it.