By Jenna Goudreau |
Laszlo Bock, the SVP of Google’s People Operations and author of the new book, Work Rules!,” says that most companies don’t know how to hold onto their best people, where people are often the company’s most valuable asset and losing talented employees can be extremely expensive especially in today’s knowledge economy.
Google’s HR boss says, “People don’t stay for money,” noting that more than a third of Google’s first 100 employees are still working for the company and now shares his 2 insights for you to keep good people from quitting.
1. The quality of the people they worked with.
Google sets a high standard for everyone it hires. “That’s why hiring is so important,: he said. Whether you’re applying for an administrative officer or a senior engineer, every candidate is screened by the potential boss, potential colleagues, a hiring committee, and finally the CEO Larry Page.
2. The feeling that the work they do is meaningful
Giving employees a sense of purpose has benefits beyond retention. Backed by a research by Wharton professor Adam Grant, that when an employee connects their jobs to something meaningful, it increases their productivity fives times.
Interestingly, the great perks that Google is known for – free gourmet meals, in-house massages, and dry cleaning on campus, but they are not game changers. “The dirty secret of all these perks is it doesn’t actually retain people or even attract people,” Bock added.
It may provide efficiency, community and an inviting atmosphere, believes they ultimately won’t convince people who are thinking about leaving.