Find out why it’s worth it and how public relations can help
“Best of” lists have become ubiquitous as we try to categorize and rank everything, from famous movie lines to beautiful people. Most business leaders and executives view Best Places to Work lists as cheesy stunts dreamed up by publications and companies looking for cheap publicity. However, an optimization consulting firm has revealed in a new study that these lists can actually be quite valuable.
Frankly, every company should strive to be a “Best Place to Work.” It decreases employee turnover, fosters better loyalty and helps in recruitment initiatives.
In today’s competitive culture where the best and the brightest receive multiple job offers, salary is not the only thing that matters (although that is still important). Just as you conduct an extensive vetting process to discover whether an applicant is a good fit for your organization, that applicant is also studying you to find out if he can be happy at your company. Being named on a Best Place to Work list can give you an advantage over your competitors.
Highlights of the study:
Fifteen years of data from 100 businesses provided the groundwork for the Best Places to Work lists.
The companies that made the list doubled their annual average growth.
Companies on more than one Best Places to Work list experienced improved growth even more than those on only one list.
A majority of human resources professionals, chief financial officers and chief executive officers were unaware that appearing on Best Places to Work lists could help to increase growth.
A copy of the study can be found at www.optimalthinking.com/best-places-to-work.html.
Criteria typically measured for Best Places to Work lists:
Fortune magazine, in conjunction with the Great Place to Work Institute, publishes the most popular list of best places to work using the input of employees and human resources departments. However, there are other groups and publications which rank specific fields such as publishing or health care. You can also find those with different groupings, such as best medium-sized company. In addition, several states and cities rank their own best places to work. In general, these surveys measure:
Trustworthiness of executives
Being a “Best Place to Work” has surprising benefits
Hiring a new employee to replace one who leaves costs, on average, approximately $100,000 including advertising and training, etc. This is a time-sucking waste of energy and money that could be better spent growing your business.
Working to achieve a Best Place to Work listing can help to ascertain which of your policies are working and which need improvement. This can also be a vehicle for the kind of feedback not generally voiced in meetings and suggestion boxes.
And, of course, don’t forget the media attention you can garner from rankings and awards.
The role of public relations in all this
Becoming a “Best Place to Work” does not have to be all about basketball hoops in every cubicle or daily catered lunches for employees. There are ways to tell your story and improve your likelihood for earning spots on these lists – allowing you to reap the benefits for your company.
Certain public relations tools can increase your chances of being ranked highly by these and other recognition programs. At Axia Public Relations, we specialize in helping you maximize your efforts and gain positive coverage for your company. Our AwardAbility program will help to identify all relevant business awards and showcase your company in the best possible light when applying to such programs. Contact us today to get started.
– Lisa Goldsberry is a writer for Axia Public Relations with more than 15 years of public relations experience. She specializes in business, higher education and technology PR. Connect with Axia Public Relations on Twitter at @axiapr.