What Makes The Best Place To Work And Why?
What Makes the Best Place to Work and Why?
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What Makes the Best Place to Work and Why?
Workplace is one of the central elements in shaping human personality and preferences, taking into account that the success of any organization is also dependent on the workplace it provides. There are different elements that make up a good workplace such as salary, diversity, ownership towards work, and technological innovation. In accordance with all these facts, different companies are ranked high from employee perspective to work in future. Berkshire Hathaway is one of the companies that is more like a dream workplace.
There are different driving forces that make a workplace fit for the company. These factors are also common in Berkshire Hathaway.
These factors include a global marketplace, workforce diversity, ethics, morality, and technological innovation.
Berkshire Hathaway is known for exclusive market place competition, taking into account that the company is involved in different sectors of industry with direct competition. Berkshire Hathaway is competing major market domains such as Leucadia National Corporation and Allstate corporation. The company is also seen competing with major management investment players such as BlackRock Inc and KKR & Co. LP (Agrawal et al., 2019).
Taking into account the workforce diversity, it is highlighted that Berkshire Hathaway is a talent admirer, that leaves gender discrimination far behind. According to Balzer, (2020) although it is questioned that the directors are all male, the CEO Warren Buffett asserts, when there will be a female talent the lineage of men will be broken. Considering the stance of people who are employed as workers only, there is mutual cooperation and coordination along with homogeneity. Diversity is accepted and appreciated and it is one of the major reasons for the growth of the company. In addition, several employee reviews highlight that Berkshire Hathaway serves as the best place for integrating with other employees as there is no place for discrimination or segregation.
Ethics is one of the major sections under discussion, where it is found that the company has a manual of business code and ethics that acts as a source of information for both present and the new hiring. There is a common culture-based business approach that promotes different qualities such as integrity, emphasis on the customer’s long-term orientation and honesty. The CEO, of the company, affirms that he believes in running his company as a family’s only asset for the next fifty years which asserts the positive approach to ethics and workplace considerations. Within ethics, morality is found taking into account that none of the employees’ abilities are exploited, there is a set standard for everything to be acceptable and consequences for not meeting eligibility (Cunningham et al., 2020).
Innovation and technology are one of the basic fundamentals of Berkshire Hathaway because all the departments of the company are working as per up to date models and expectations. It is highlighted that the company believes in the facilitation of employees that makes it one of the best places to work. Also, innovative approaches exist in the form of institutional forces, mitigated risk of the stock baste and the great contrarian success. Thus, innovations are not just seen in the technologies but it is also seen in the minds of the employees and their actions (Balzer & R, 2020).
Practices and Policies
There are different practices and policies of Berkshire Hathaway that act as an attraction for both, employees as well as the business individual. Taking into account the inner-organization, it is highlighted that the policy of “autonomy of the manager" are something that attracts more professional and quick learners to work because working with autonomy gives employees real skills. The autonomy of the manager is usually frowned upon but it is one of the strong motivations that attract strong employees because today's generation is less into guided work and more into authoritative work that can lead them to practice their knowledge and values. In Berkshire Hathaway autonomy of the mangers allow efficient learners in the form of employees who seek and learn a lot (Cunningham et al., 2020).
In addition, “Conflict of interest” is also something ponderable because employees are led to maintain their private realms. The same code is seen in the business dealing which is the major reason that Berkshire Hathaway has serious business dealings. The just decision making attracts a lot of investors. The stance of conflict of interest is not motivation but crystal-clear imagery of positive motivation for the employees which can help them get into positive deals and attract more influencers (Balzer & R, 2020).
The document named "Prohibited Business Practices Policy" is also one of the major sets of regulations that is in compliance with the laws that address the topics of payment, offers, entertainment and education that curtail all the issues that employees might face in the workplace. It not only allows the employees to become aware of their actions but it is also a strong motivation for the business partners and other related people to be very conscious of their actions as policy acts as a code of conduct. In the same way, the policy acts as a strong motivation for businessmen who are seeking morality and positivity in the business (Wire & B, 2019).
“Accounting rules” is one of the several positive initiatives that have been taken by the company and it acts as a strong source of attraction for different businessmen. It is highlighted that the companies actually like to be in partnership with the Berkshire Hathaway because the rules that the company apply are effective and novel, adhering to positive and unique outcomes (Cunningham et al., 2020).
Nondiscrimination policies are also one of the major sets of policies that act as a major source of attraction for the employee. It is highlighted that there are a lot of employees and aspirants who are passionate to work somewhere and learn but they cannot find that mental peace. The non-discrimination policy of Berkshire Hathaway is one of the reasons that the company is handling more than 3000 employees with equality and justice (Agrawal et al., 2019).
Work attitude affected by diversity
Diversity is one of the major concerns in big organizations such as Berkshire Hathaway, related to issues such as religion, sexual orientation, race, and gender. These issues can cause serious gaps in the workplace that might even lead to the distortion of the reputation of the company. It is highlighted that there are a lot of employees who despite being talented might plan to leave the workplace or not become a part of organization because of such issues. There are several strategies and initiatives that can help to address these issues such as “leadership positions in diversity” (Cunningham et al., 2020). It will help the employees to develop acceptance for diversity, also it will create a stance of uniformity and homogeneity. In addition, training and quick accountability are also some of the prominent initiatives that can be taken to address this issue because if employees will be trained to deal with diversity, a more positive workplace can be created. In addition, quick accountability in case of violation can also help to overcome the issues by making employees aware of the outcome in case of failure of adherence. incorporating employee motivation is also a strong tool of positive enforcement that can help diverse employees to feel themselves as a part and parcel of the workplace (Wire & B, 2019).
In a nutshell, it is highlighted that adequate policies, embracing diversity and positive enforcement of actions at a workplace play a central role in making an organization a better place to work.
Agrawal, A., & Nasser, T. (2019). Blockholders on boards and CEO compensation, turnover and firm valuation. Quarterly Journal of Finance, 9(03), 1950010.
Balzer, R. (2020). In a world of globalization–company valuations of industrial corporates and digital natives. In SHS Web of Conferences (Vol. 74, p. 03001). EDP Sciences.
Cunningham, L. A., & Cuba, S. (2020). Margin of Trust: The Berkshire Business Model. Columbia University Press.
Wire, B. (2019). Amazon, Berkshire Hathaway and JPMorgan Chase & Co. to partner on US employee healthcare. Available at: businesswire. com/news/home/20180130005676/en/Amazon-Berkshire-Hathaway-JPMorgan-Chase-partner-US Accessed January, 10.
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