On Catapult Your Business, we help catapult business owners one question at a time. In this week's episode CEO and Co-Founder Casey Clark is joined by Cultivate partner and Team Cohort Leader Nick Phelps to answer the question: How can a company create a culture where employees never want to leave?
They discuss the critical role of retention as a core Key Performance Indicator (KPI) and the impact of company culture on the bottom line. The conversation emphasizes aligning the vision and mission with every team member, creating a shared goal environment.
The episode explores the day-to-day aspects of fostering an environment where employees thrive, focusing on leaders explaining the "why" behind tasks and building trust. Nick emphasizes recognizing individual motivations and personal goals outside of work.
While compensation is vital, the discussion highlights the significance of work-life balance, intangibles, and understanding employee motivations. The concept of the "airport test" becomes a practical way to assess cultural fit during the recruiting process.
This episode offers insights on career paths and growth opportunities tailored to individual preferences, underlining the importance of a thriving company culture in retaining top talent.
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Learn more about our guest, Nick Phelps, partner and Team Cohort Leader at Cultivate Advisors.
https://cultivateadvisors.com/our-advisors/nick-phelps/
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