Studies show that people are increasingly focusing on work-life balance instead of chasing the biggest paychecks. As a result, one of the best ways for companies to succeed in competitive environments is to focus on being cool instead of continually offering the highest salaries. Here are a few tips for creating a cool company in a competitive industry.
Branding is usually viewed as a means of impressing potential clients or customers and other businesses. However, branding also affects current and potential employees, and companies with modern and stylish branding are more likely to attract employees. Focus on the website, as it’s the easiest way for a new company to create a strong brand. Established companies can look into rebranding with a new logo and other elements.
Focus on the Office
Most employees spend most of their work time in the office, so it’s a critical component of creating an attractive company. Fortunately, cool offices don’t have to be more expensive than traditional offices, as many employees prefer open office spaces to semiprivate cubicles. Consider having managers work alongside employees in the same area. If phone calls are critical to the industry, think about setting aside space outside of the main area to create a more open look.
Cool is a relative concept, and clothing that would be too casual for some industries might be perfectly acceptable in other. Erring on the side of a permissive dress code can allow a company to stand out from its competitors, thereby creating a cool and attractive environment. Comfortable employees tend to work better, and letting employees choose their own clothing can lead to better office productivity.
Although people like keeping their work lives separate from their social lives, bringing social elements to a company can make it more enjoyable and engender a sense of camaraderie. Invest in social events for employees, and feel free to set aside time that would otherwise be spent on office tasks for fun activities. Team-building events pay off as employees learn to work together more efficiently.
Let off Some Steam
Studies have consistently shown that employees work more efficiently when they spend office time having a bit of fun, so encourage employees to spend some time in the break room or playing a bit of table tennis. While it’s important to ensure employees spend most of their time working, making it clear that they’re free to take a break when needed to lead to better productivity.
Chris Burch is a venture capitalist and founder of Burch Creative Capital.