CORPORATE RESPONSIBILITY - AN ESTABLISHMENT AND A COMMITMENT

Without employees (and I include management in this category), a business literally could not exist. Profitable companies do not spontaneously form out of piles of equipment, software, and money. More often than not, employees are the group most responsible for a company's success, since a business is essentially nothing more than a collection of individuals gathered together for a common purpose and with a certain amount of infrastructure and capital. Most companies are obligated to behave ethically towards their employees, customers, community, and shareholders, in roughly that order.

With the current rash of layoffs in the face of a slowing economy, we are reminded once again how corporate cultures have changed. Gone are the days of cradle-to-grave employment relationships - washed away with the departure of the "company man". In the new economy, many of the old rules seem to have changed. When the economy slows and budgets are squeezed, cutting the payroll is the first response for many corporations. At the same time, many employees today hop from company to company, in a seemingly endless search for higher pay and better benefits. Sadly, the traditional concept of "corporate loyalty" has eroded on both sides.

In the face of this new reality, what can employers do to hang on to their most valuable resource - capable, hard-working employees? What level of commitment do employers and employees owe to one another, and what can be done to establish that commitment? Much has been made in recent years of the lavish perks some firms offer to attract and retain workers; but when belt-tightening time comes, extravagant fringe benefits inevitably are cut. Unlike these "frivolous fringes," there is one element that is impervious to market cycles - a corporate culture based on a strong value system. And this element is key to the long-term retention of quality employees.

From startups to established corporations, as well, integrity, fairness, and social responsibility should rank high in the spectrum of company values. What better place to start being fair, ethical, and socially responsible than with one's own employees? Employee benefits hit home. This part of the compensation package clearly reveals that the human needs of the individual employee are understood. A comprehensive benefits package has a direct impact on employee motivation and retention. The structure of a benefits package reflects the company's commitment to its employees. A thoughtfully structured and reasonably generous package shows that the company is doing what is right and best for its people - a fact that causes employees to feel valued. Workers who know that they are valued integral members of the company are likely to stay. They are also likely to reflect the company's value system in their work performance, and in the way they treat customers and clients - with respect and fairness.