Creating a Magnetic Culture

RECRUITING, ENGAGING, and RETAINING TOP EMPLOYEES
Employee turnover costs the US economy an estimated $5 trillion annually. With perpetual workforce shortages in many industries, recruiting, managing, and retaining high-quality talent is one of the most important challenges an HR department faces.

What is a Magnetic Culture in the Workplace?

• A Magnetic Culture is one that draws talented employees to the workplace, and sustains an environment in which they are less likely to leave.


• It is marked by engaged employees who share a strong desire to be part of the value that the organization creates.


• A commitment to create and nurture a Magnetic Culture, led by engaged employees, will result in a more loyal, creative and productive workforce.


• Magnetic Culture is more than a buzzword. Organizations that place a high value on actively cultivating a culture of engagement will stand apart from their peers – and enjoy better business outcomes.

The Top 10 Ways to Create a Magnetic Culture in the Workplace

1. Provide career development opportunities.
   • Promotions for qualified employees
   • Motivate employees
   • Ongoing educational opportunities
   • Active participation
   • Competitive salary
2. Competitive salary
   • Better compensation elsewhere is the top reason employees chose to leave their jobs in 2006.
     (Source: SHRM 2006 US Job Retention Poll Findings)
   • Ongoing assessment of comparable jobs/salaries is crucial to engagement
     • Learn from colleagues / competitors
     • Online pay comparison tools
3. Flexible work schedules
   • Alternate arrival/departure times
   • Compressed workweek
   • Telecommuting
4. Desired job content
   • Clear definition of employee role
   • Employee’s skills utilized effectively
   • Fairness and consistency in workplace practices and procedures
   • A variety of interesting tasks
5. Provide top-notch customer service
   • Customer satisfaction linked to management and employee compensation/bonuses. Engaged
     employees result in happier customers
   • Clear explanations communicated to each customer
   • Successful Transfer of the Branding to the External Arena
6. Ensure company mission is clear
   • Host an Organizational Mission Workshop
   • Dispel misperceptions about company goals/priorities
   • Clear, concise, continuous communication
7. Retain best supervisors and managers
   • Accountability/Acceptance of responsibility
   • Appropriately handle conflicts
   • Clearly communicate expectations
   • Reduce communication gap between employees and managers
   • Care about employees, Honesty/Trust
8. Strong Senior Management
   • Shows Concern for Employees
   • Open to new ideas
   • Manages proactively
   • Personal characteristics
     • How strong or weak the Senior Manager is on: honesty, integrity, accountability and
       passion to succeed/excel
   • High visibility among employees
9. Maintain positive organizational culture
   • Human Resources Policies Supporting the Employee / Customer Interface
   • Community involvement
   • Build flexibility into the organization
   • Diversity is a priority of the company
10. Generous benefits
    • Critically important tool to engagement, due to the fact that these are the most tangible job
      attributes. A ‘talent attractor’.
    • Assurance of fair wage rates & rewards
      • Both internal & external equity
      • Strong impact on employees’ intent to stay versus discretionary effort
    • Brand your benefits
    • Pay and rewards-related communication



[Click to Download a more detailed PDF of the top 10 ways to Create a Magnetic Culture]

For a more detailed explanation of the benefits and tools for creating a Magnetic Culture in the workplace, please view Kevin Sheridan's media kit page, or contact HR Solutions at (312) 236-7170 or via email at info@hrsolutionsinc.com.