Why do companies seek to become a Best Place to Work?

Why do companies seek to become a Best Place to Work?

Claudia García

February 17, 2021

March 10, 2021

The first thing we should know is what does the concept of "Best Place to Work" mean. This term aims to become a workspace recognized by the employees that make up a company. Some of the characteristics shared by employees who work in a best place to work are the confidence they feel in their job, the pride in what they are doing and the enjoyment this generates.

Most top leaders have a common point of view about this concept. They consider it as a place where objectives can be achieved, where people give their best and where work takes place in an atmosphere of trust more typical of a family than of a team.

Why do companies seek to become a Best Place to Work?

This is mainly due to the fact that being a Best Place to Work is positively correlated with an improvement of the work environment and an increase in the profitability of the company. This has a beneficial impact on employee engagement at work and this is seen in the bottom line. It also leads to talent retention, which ultimately saves turnover costs and keeps the company's most efficient employees in their current positions.  

In addition to retaining talent, it also attracts talent. Young people value the project they work for much more highly because they like to take pride in what they do. They also value more positively working in an environment of trust with leaders and peers. Companies recognized as Best Place to Work offer benefits and perks, such as work-life balance, flexibility and heath insurance that attract young people.

Undoubtedly, there are many companies that try to become a Best Place to Work to improve both their benefits and those of their employees, but do we know what are the keys to achieve it?

What do companies that have reached the top of these rankings have in common?

1. Non-discrimination policy, including minorities such as diverse religions or sexual orientation.

2. Healthy benefits, including discounts at gyms or even a place to exercise within the company itself.

3. Medical coverage or health insurance to those who work part-time and full-time.

4. Granting between 30 and 35 days of vacation per year, which must be paid.

5. Pay employees the totality or most part of the costs destined to academic or professional training.

These are just some of the characteristics that top companies have in common. However, it is not easy to implement them. We should have in mind that in order to achieve this, a well elaborated plan must be followed, which entails numerous efforts, not only in its implementation but also in its maintenance.

Would you like to know more about how to become a Best Place to Work? Download our guide here and start your journey! 🚀

📣 At the end of the guide you will be able to see if your company meets the requirements to be a Best Place to Work through a downloadable checklist. Come on, it is time to see how is your company working!