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Microsoft, Apple, Ford Motor Co., GE, and Intel were 5 of the most profitable companies (excluding banks and oil outfits) in 2012, according to CNN Money.
It is no coincidence that all the aforementioned companies are also featured on the CareerBliss 50 Happiest Companies list for 2013.
Business owners must strike that delicate balance between getting the most out of their employees, while offering enough incentive to retain the talent that brings innovation and profit to the company.
Some of the more unconventional strategies may not be for every CEO, but the results are undeniable.
Google And Its 20% Time
Most employees for any given company are actually at work for 45 hours, 5 days per week.
They are paid for 40 of those hours and the other 5 are unpaid for lunch.
But at Google, employees are paid their salary (presumably based on a 40 hour work week), but are only required to work 80 percent of the time.
This policy, known as 20% time, gives employees the freedom to work on other projects, sleep, daydream or anything else that is legal.
Google, America’s 3rd most valuable company behind Apple and Exxon mobile, is not the 1st company to use this strategy and won’t be the last.
Gmail, Google Talk, and Google Sky are just a few of the products of 20% time.
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Art Fry, a scientist for 3M in the 1970s, is the inventor of the Post-It Note.
He spoke of the company’s “15% time” in a podcast hosted by the Smithsonian’s Lemelson Center.
Fry said playing golf during work hours helped him come up with the very simple idea.
The rest, as they say, is history.
Robert X. Cringley, aka Mark Stephens, said HP invented the concept.
He described how the company offered 10% time after lunch on Fridays, and provided employees all necessary tools to pursue their own ideas.
This would basically be the equivalent to American Express allowing its employees four hours per week to dream up ideas about thethe company could offer.
The number of companies that embrace BYOD (Bring Your Own Device) policies rose from 72% in 2011 to 76% in 2012, according to ZDnet, citing a survey by mobile management software provider Good Technology.
On top of that, 61% of companies that incorporate BYOD policies are experiencing higher employee satisfaction, according to mobile expense management company Xigo.
The survey further found that 45% of employees would take a lesser-paying job if they were allowed to use their own laptop, tablet or mobile device.
BYOD is also advantageous to business owners, in that it passes the costs of hardware to employees.
The most frequent complaint from CEOs who resist BYOD is security of company information.
But more companies with sensitive records, including healthcare providers and financial institutions, have been jumping on the bandwagon, while upgrading their security protocols.
Whether you’re ready to free up time during your employees’ workdays, and/or allow them to use their smartphone for work purposes, the results are undeniable.
A happy workforce leads to better production and higher profits.
What Are Your Thoughts?
✔ What perks would you like to see your company offer?
✔ Many will say, yes but these are large companies — forgetting they were once small companies at one time. Most likely, the attitude they took towards their employees was carried forward. Do you think companies just can’t afford NOT to have a program similar to these?
✔ What research can The HRIS World provide you about such programs for your company?
Please share your thoughts with us and our audience in the comments section below! Or you can reach us directly from our contact page.
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Garrett is the publisher, editor, writer forThe HRIS World Research Group, which includes The HRIS World, The HRIS World Research, The HRIS World Jobs, The HRIS World News, The HRIS World NewsMagazines, and The HRIS World Videos
With more than 20 years in roles as a client executive sponsor (#thwCES), project manager as well as functional/technical lead, Garrett is sought for his expertise for project insights, thought leadership, and team management globally.
He has been involved in large-scale and complex implementations since 1991 and has recently moved his operations to be with his wife in Brazil.
Garrett has had the pleasure of working with some of the greatest talents in the industry, and constantly shares his experiences and knowledge through content and webinars.
He maintains his fluency in Portuguese, German, French, and English with his various endeavors and contacts..
When not working, you will have to be adventurous to stay up with him as Garrett loves motorcycling, gunnery, boating, sailing, flying, and sports fishing -- and accompanying his wife on her various likes
About The HRIS World Research Group
The HRIS World blog, which is read by more than 50,000 from more than 160 countries monthly, manages to have more than 550,000 pages viewed monthly. 40%+ of the audience are decision-makers in their organization (and about half of that being C-levels!).
As CEO for CGServices USA Inc, he focuses on multi-provider, multi-line implementations consultation for HRIS systems
Council and Education Member of Gerson Lehrman Group Council, helping institutions of the world leaders meet, engage and manage experts across a wide range of sectors and disciplines.
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