Financial and employment security are important components of the whole package. And ownership is broadly used as a tool of engagement and reward. Many other tactics and programs are being used by Best Companies to become and remain employers of choice. Total compensation is being strategically redesigned to contribute to the right environment. Competency development, leadership training, and online career management are employed by Best Companies to enhance the skill and flexibility of employees.
Company culture is changed if necessary and then managed for maximum results.
Measurement and analysis are important components in the equation, as is performance management and workforce planning. Ultimately, every company has the potential to become Best, but it takes commitment, hard work, and investment of resources that few companies will muster. Mike Butler is a Principal and Managing Consultant with Hewitt Associates, working in the areas of employee ownership, human resource strategy and benefit and compensation design. Return to Top of Page Opinions expressed in this article do not necessarily reflect the views of the Foundation for Enterprise Development.