GlassDoor released its list of 50 Best Places to Work (U.S.) with Air BnB at the top. Glassdoor is an American website where employees and former employees anonymously review companies and their management. Winners were determined based on company reviews shared by employees over the past year. Employees are asked to share their opinion on some of the best reasons to work for their employer (pros), any downsides (cons), and are encouraged to provide advice to management. The ranking given by GlassDoor impact the recruitment and retention of a company. Ranking high in the list, such being in the top ten, gives a company advantage over to other in recruiting the most talented and skilled people.
Check out this video and find out why employees love working in Airbnb.
Companies like Airbnb enters GlassDoor’s list of Best Places to Work because they received good feedback from their employees. These employees are happy and satisfied with their job and the company they work for. They are satisfied and happy because of the benefits, perks, salary, promotion, corporate culture and management. Airbnb for instance, gives all of its employees $2,000 a year to travel anywhere in the world. Employees are also allowed to bring their pets to work, they have pingpong table, have weekly Yoga classes at work and eat organic lunches on a daily basis.
We see the effect of these benefits to the employees but what is in it for the business owners? What do they get from being generous to their employees? How does job satisfaction affect their company? Here are just some of them:
- Recruitment advantage. According to GlassDoor’s survey, nearly 3 in 5 people consider benefits and perks their among top considerations before accepting a job, while 4 in 5 say they would prefer new perks over a pay raise. This study shows that companies offering comprehensive perks and benefits have a better chance of getting best and most talented employees.
- Satisfied employees impact stock market. In another GlassDoor research, they compare financial performance of companies with satisfied and less satisfied employees. The result they got suggests an economic link intangible company asset such as employee satisfaction and broader stock market performance among publicly held companies. Although the analysis cannot establish a causal relationship between employee satisfaction and stock returns, it clearly suggests the value of employee company reviews as a meaningful predictive indicator of financial performance.
- Employee engagement. When employee are engaged and satisfied with their company, they are more committed, loyal and invested in the success of the company.
- Productivity. When employees are satisfied in their jobs, they are willing to go the extra mile to help the company succeed. Happy employees have lower absenteeism and are more motivated.
- Lower turn-over. Keeping good employees is vital in the success of a business. Employees who are satisfied in their job are less likely to leave the country.