The 10 Best Corporate Practices
I don't remember when I first heard about employee-referral bonuses, but I remember how jazzed I was once I understood the concept. The company needs employees — the current employees have friends — it's a match made in heaven. Done right, an employee referral bonus program can lower the cost of hiring, improve morale, and lower turnover, and what company wouldn't kill for those things?
I've been a fan of employee-referral bonuses for at least 20 years, and that's why they've made our list of the 10 Best Corporate Practices. This list — 10 ideas that make great sense for employees and for the organizations that employ them -- is the sister list to our 10 Worst Corporate Practices roster.
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The company gets a new employee with no recruiting fee, your friend gets a new job, and you get a check and the gratitude of both your friend and employer. What's not to like?
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I'm all in favor of policies that let you apply for jobs posted internally without your manager's approval. After all, different folks do better or worse work for different managers. And smart companies would rather have people stay in the organization than move to another employer because a self-interested manager blocked a requested transfer.
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Van Pools and Subsidized Transportation to Work
Being green is where it's at, and companies that help underwrite employees' public transportation costs or provide van pools are way ahead of the curve.
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Town Hall Meetings
Companies that value employee input make a point of sharing news with their team members, virtually or face-to-face. Town hall meetings with leadership are a terrific way to generate ideas and get employee buy-in on new initiatives.
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Ethics Hotline
All employers talk about ethics, but the ones who provide a way to report misdeeds are the ones most likely to catch problems. Confidential ethics hotlines allow employees to anonymously report bad actors without taking their chances on the dreaded "chain of command."
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Distance Learning
We've got the Internet, let's use it! Distance-learning programs let employees gain new skills, right at their desktops.
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Company-Sponsored Alumni Groups
Back in the day, a bunch of former Data General employees started an alumni group called the Grey Eagles, and the idea has caught on. Now, smart companies like McKinsey sponsor their own alumni groups, sending the message: "If you worked for us in the past, we would love to keep in touch in the future." More than a source of job leads and connections, alumni groups help their sponsor organizations hire and retain talented folks.
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Corporate Social Responsibility Programs
Big companies have done a lot of damage over the years, but some of them are doing great things for the world today through CSR programs. Whether banding their employees together to build houses or providing education for their vendors' employees in developing nations, socially aware employers are making a tremendous difference around the world.
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Matching Contributions
Some employers match their employees' personal donations to the arts and to charitable organizations. Others match their employees' 401(k) contributions. Matching donations aren't giveaways. They say to employees: "If you're in, we're in."
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Intranets
Want to know how the company's stock is faring or how the company softball team is doing? Check the company intranet. These sites promote benefits, share job openings, and generally keep employees informed, even when they're working from home or on the road.
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Employee-referral bonuses, town hall meetings, and matching contributions are some of the tactics that make people feel good about their employers.
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