What if there was one policy you could implement that wouldn’t substantially increase salaries or a big increase in benefits spend for your organization? Too often, we think of soft skills as not being as important or impactful. However, these types of skills are also connecting skills, creating stronger teams and better communication. It is also something that more employees and job seekers are looking for. They want pay equity and benefits that actually help them with their lives and their goals. They also want to be part of an organization that respects them, values them, and has basic civility built into the DNA of the company.
There are numerous documentaries and stories of companies that had working environments where fear and intimidation were used as motivators. Managers with more power used abusive language. Top rainmakers were not required to live by the same rules as everyone else in the company. And there are plenty of C-Suite stories of top executives behaving badly. In our more transparent world, with Glassdoor, stories on Instagram and TikTok, having a written policy and a list of what your company stands for is not enough. It’s pretty easy to get the word out if a company or even a division of a company is not treating their people fairly, is doing something unethical, or is giving lip service to stated values.
The Achievers Workforce Institute (AWI) 2024 Engagement and Retention Report found that, though compensation is the number one reason to job hunt, 72% of employees would choose to stay at a company where they feel supported, cared for, and valued over one where they don’t, but get a 30% raise. Companies like The Breakers Palm Beach have built a culture that has dramatically reduced their turnover rates. Their pay structure isn’t much different from others in their industry, but their work culture is one that is deeply valued by their workforce. This has resulted in much lower turnover and training costs than other companies in their industry.
A culture of compassion is even more important for those at the top. Years ago, an executive at a national firm was doing well, always considered himself a good leader. He was driven, expected people to meet goals and deadlines, and always wanted to strive to make himself and his team better. Then his son was killed by a drunk driver two days before Christmas, and two months later, he lost his mother to an aggressive brain tumor. For the first time in his life, he was depressed. He gained over sixty pounds. He would come to work, but was very disconnected, often sitting alone in his office.
After several months of this, an employee walked into his office. He didn’t work directly for the executive but had heard about what he had been through. He didn’t say a lot. “I’m so sorry to hear about all that has happened to you. I hope you’ll do something good for yourself.” And then put an orange on the executive’s desk and walked out. The executive picked up the orange and ate it.
The next day, the same employee stopped by and said, “Glad to see you ate the orange. Thought you might like another one.” Years later, that executive continues to share that story. He said it was that simple act of compassion that started him on the path back from grief and towards healing. It changed how he led his team and said that the simple act of compassion saved him and his career.
Kindness and compassion are not weaknesses but can be bridges in our companies that may be more valued than a raise. Random acts of kindness and recognition can be part of the overall package that an organization provides. The people who work in our organizations all want to contribute, want to be recognized, want to be viewed as human beings, not just human capital. Finding more ways to show that your organization cares about your employees and their families can go a long way in reducing costs. It can also make you an employer of choice, even without the highest salaries.