Gary Vaynerchuk is a digital marketing entrepreneur and CEO of VaynerMedia. A pioneer in providing value to consumers, Gary's straight talk and transparency is a sought after commodity for many within the business community. Gary is not only a master salesman, he's extremely intuitive.
Gary knows that workplace culture is important. When employees feel underappreciated, they are unlikely to invest the time, energy, and effort needed for maximum quality and productivity. While engaging in Q&A at a VaynerWorld event in London, Gary Vaynerchuk offered his thoughts on improving workplace culture for today's CEO.
Here are Gary's top strategies to improve workplace culture:
1. Reframe your role.
Recognize that you work for your employees, not the other way around. If you want to increase employee retention, especially for those quality employees who are the leaders you want in your company, then you need to ensure that they feel valued and respected.
Excellent point. In the era of entitlement, especially among younger entrepreneurs, it's important to step off your pedestal and treat others with respect. When you walk around and don't show your employees that you care about their lives, you create a culture of negativity that will result in a loss of respect for company leadership. Give respect to earn respect.
2. Understand employee motivation.
No matter how many employees are under your wing, you need to understand each of their unique needs and ambitions. If you know what motivates each individual, whether it's money, sporting events, or beverages, you can use positive reinforcement to help them feel like an integral part of your team.
Understanding your employees is a necessity for leadership. If you want others to perform at their highest level, you need to know what motivates them. Personalized positive reinforcement is a great way to show others how much you value their contributions.
3. Be action-oriented.
When you're a CEO, each of your actions sets a precedent for others to follow. You are modeling the behavior that you want others to display, so you need to actively take steps to demonstrate that you care about others. As Gary V said, "Make people understand that you care about them more than you want them to care about you."
You build a culture through your actions more than your words. I agree that actions are far more powerful than broken promises. Taking decisive action to show others that you care about them creates a supportive and positive workplace culture.
4. Embrace meritocracy.
Gary mentioned that if the top people in his company are not setting the right example in each situation, then they get fired no matter what. He believes that the very second you allow an individual to get away with an infraction, your organization is doomed.
In order to continue building your business, you need to reward performance above all else. For example, if you have an employee who's consistently working hard and a cousin who's simply collecting payroll, it's important that you cut ties.
This is the harsh reality of business. Part of demonstrating how much you value you employees is looking out for their wellbeing. If you allow family members to drain your pocketbook while others are outperforming them, you are doing your employees a disservice. Hard work should always be rewarded.
Excellent advice from a CEO making major improvements in company growth and employee satisfaction.