We came across an interesting article from Forbes recently, which looked at what the common characteristics of a modern successful company are. Below, we have summarised accordingly.
Business irrevocably changes on a daily basis and the characteristics of a successful firm have rapidly developed over the years. The evolution of a company can be key to its success in being able to attract and retain talent.
The modern company should support flexible work, something which is becoming increasingly important in the millennial workplace. Allowing employees to do their work anytime from anywhere reduces overheads and improves productivity. Employees are less likely to call in sick if they can work from bed and you won’t be losing a day’s workload.
Larger companies are now moving backwards and operating like small companies. Through empowering their employees, evolving quickly and reducing the impact of rules, regulations and HR – the large company is enjoying the same feel-good factor as its smaller neighbours. Not moving is akin to moving backward in the modern business.
The debate between want vs. need is also resurfacing, whether employees turn up for a payslip or because they enjoy their work. Creating an environment where employees feel respected, needed and prioritised is paramount to moving forward for companies of any size.
The technological age has made it easier than ever to become a recognised voice in the workplace. Companies are now starting to pay more attention to the voice of the employee and the customer. Business is now a living beast that reacts to what goes on around , so getting the input of those who know your product or service best is the step forward.
Another result of the technological age is the speed of change. Companies which cannot rapidly adapt to a changing marketplace will be left behind. Being a late adopter can now quite easily mean going out of business.
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