It’s that time of year again – March Madness is back! Although this month signals an exciting time for sports fans, most companies aren’t as enthused. Research shows that March Madness can be distracting to employees, plus decreased productivity is estimated to cost American companies nearly $2 billion dollars in 2015.
Perhaps the real madness lies behind employers banning the tournament from workplaces. That’s right – just hear us out. Our own Sam Cicotello said to The Washington Post, “”If employers lock things down, what that ends up doing is putting the employee in a very bad spot, where they have to lie and can’t do something they enjoy.”
Like The Motley Fool, more organizations are starting to view March Madness in a positive light. If the tournament is embraced, it can be the perfect opportunity to foster collaboration and build employee relationships.
Still not convinced? Sam Cicotello shared a few more Foolish thoughts on March Madness in The Washington Post’s feature – click here to read on!
In addition to physical and mental wellness, we strive to keep Fools’ financial health on the upswing. Thanks to our Foolish Learning and Development team, Fools recently celebrated “Financial Health Day” by budgeting their workdays to learn more about our employee benefits, attend educational workshops, and participate in office hours with Foolish financial planners.
Classes on the agenda were all Fool-taught and included How to Buy a Home, Couples & Cash, Foolish Family Finances, and Estate Planning: Wills, Trusts, and Health Care Powers of Attorney – Oh, My! One of the most popular classes was Living Cheap, which was hosted by Rule Your Retirement advisor Robert Brokamp.
Here are 3 tips from this session that can help you, too, cut your expenses:
1. Monitor your spending every day. One Foolish reader wrote, “If you do this for 30 days, it can change your life. Also, that feeling of being in complete control of your finances is a real self-confidence boost.”
2. Food is one of your biggest expenses. Make a master list of what you absolutely need every week, and try not to stray from it when you’re shopping. A wise Fool told us during the class, “It’s not a value if half of it goes bad.”
3. “Use Stuff You No Longer Want to Buy Something You Covet.” Take a look around your house and make note of what you don’t use anymore. Consider selling an item on Craiglist or to a friend, then put the profit toward purchasing something you need.
It could be difficult to host a similar event at your own organization, especially if you don’t work in the finance industry. However, a few of the quick challenges that were introduced throughout our day would be easy to recreate. Tasks that were completed in exchange for raffle tickets included signing into your 401K account and confirming or adjusting the contribution; accessing your free credit score; developing a strategy to get out of debt; downloading our expense system’s app; and confirming correct personal information in our HR platform.
Learning more about your HR tools will help employees understand all of the benefits your company has to offer. Encouraging a dialogue about personal finance – whether it’s providing helpful website links or hosting a full-fledged Financial Health Day like us – will only profit your employees’ well-beings.
Developing the perfect office space is one tough feat, but our People Team is constantly striving to fulfill 300+ Fools’ needs and wants. From adding new quiet spaces to knocking down walls, one Fool’s role is solely dedicated to our office’s cultural development. No matter if a Fool is shy or social, 4 benefits of our open office stand out:
1. Real (read: not electronic) Communication
At healthcare company GlaxoSmithKline, the absence of cubicles created more transparency among employees. After implementing an open office layout, overall email traffic declined by more than 50% and decision making accelerated by 25%. These productive shifts occurred because “workers were able to meet informally instead of volleying emails from offices and cubes.” In a casual, open environment, employees are more encouraged to engage in face-to-face conversation. Plus, you never know when a random brainstorm might lead to the next best idea.
Closed offices are a thing of the past, paving the way for more openness in both the physical and literal sense. One source explains, “Reasons for going open make for great agency rhetoric: communication, ideation, collaborative resonance, speed.” In an open office, there’s a sense of community that can’t be mirrored electronically.
2. Approachable Company Leadership
Maybe your organization’s executives are intimidating, even though we all know they shouldn’t be. Our open office definitely plays a part in connecting Foolish leaders with employees. Tom Gardner and David Gardner are just like normal Fools. Private offices aren’t requirements for them; in fact, you’ll often find Tom on a public treadmill desk and David among fellow investing Fools on his Supernova team. FoolHQ maintains a supportive environment for collaboration and creativity on all levels.
3. Unique Workspaces
We encourage Fools to do whatever it takes for them to produce the best work. Think beyond a cubicle and imagine moving around to different spaces throughout the day. Couches, beanbags, and working tables fill our office to accommodate different personalities. Not feeling inspired? Sit beside a window or find a quiet space to concentrate. Conference rooms don’t have to disappear, but we’ve added more informal meeting spaces that don’t have to be reserved.
FoolHQ is in constant flux. Fools voice their opinions on office space through engagement surveys, coaching sessions, and casual conversations. If a request can be honored, Fools will go to great lengths to ensure others’ happiness.
4. Convenient Collaboration
We keep Fools’ desks on wheels for a reason. If different teams need to work together, collaboration should be easy for them. With stationary desks, full office moves took too much time. Now that Fools’ workspaces are mobile, these moves can be finished in one (busy) morning.
Don’t isolate employees based on their departments. Some Fools are embedded onto different teams to boost collaboration and spread mastery of other skill sets. Shuffling Fools around to fit the needs of our business simply wouldn’t be as seamless without our open layout.
While a top-notch workplace culture is enviable, it also sets an example for what other organizations should strive to achieve. Tim Stevens wrote in his FastCompany article, “There is nothing worse than working in an organization that has a bad culture. It doesn’t matter how much money you make or how many weeks of vacation you are given; when you work in a toxic environment, you still come home tense and stressed at the end of each day.” Stevens is on point; I felt miserable on a daily basis during one of my first “real” job experiences (and no, it wasn’t at The Motley Fool).
Stevens goes on to list 12 traits that suggest your organization is among those with a fantastic culture. Here are a few that resonate with our organization:
1. Turnover is Low.
We want our employees to be Fools for life. Our turnover rate is less than 2%, which is remarkable by industry standards. We go to great lengths to ensure Fools’ happiness, whether it’s ordering gluten-free pizzas to celebrate monthly birthdays or building out more quiet spaces in our office. Foolish coaches also hold regular “Happiness Check-Ins” to chat with Fools about their work-life balance. Low employee turnover means you’re at least doing something right.
2. Team Members are Energized by the Mission.
Fools are passionate about our mission – “To Help the World Invest – Better.” You can feel the energy here, as well as from Fools all over the world. We have full-time Fools based in Canada, Germany, Australia, and Singapore that are all working passionately toward the same goal. When Fools are excited about projects, productivity levels rise to new heights. Creativity can also inflate, adding more valuable ideas to the mix.
3. It’s Not Just a Job.
Fools are not only excited to come to work, but they’re also enthusiastic about Foolish extracurriculars. Fools are friends too, so attending happy hours, concerts, plays, and other cultural events in the area aren’t foreign concepts. In fact, we actually enjoy spending time with our coworkers. We’re not running toward the door to exit right at 5PM (…we do have a flexible schedule), and it’s kind of refreshing from the corporate norm. A work environment is definitely more positive when it has this type of ambience.
4. People are Smiling.
Fools are shiny, happy people (and some are music lovers, too). Our Office Ops team does a great job of keeping FoolHQ an upbeat environment. These creative Fools host activities to all scales, from smaller touches like pushing around snack carts to planning larger events including our annual Holiday Party and company retreat called Foolapalooza.
5. Communication is Strong.
Though communication can always be enhanced, The Motley Fool strives to keep our conversations transparent. It’s important that your employees stay on the same page with what’s relevant, be it your company numbers or external conference opportunities. Fools are happier when information is provided instead of hidden, even if something is in the works. Simply stating “We’re working on it, but we wanted to let you know…” can make all the difference.
Interested in checking out the other qualities that make a workplace enviable and one of a kind? Click here to read more.
We’re featured on Glassdoor’s Recruiting Blog today to share our top 5 strategies for how to be a better place to work. We spill (some) of our secrets for enhancing employee engagement, company transparency, and workplace culture. You don’t want to miss out, so click here to read our tips!
Do you have any advice that can help organizations improve for the better? Please share below, and don’t forget to Fool On!