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In communities all over the country, newspapers and other media outlets conduct surveys each year, compile the results and release lists of the best places to work in their coverage area. National magazines also publish lists of great companies to work for.

As you wrap up another calendar year of business, take time to reflect on what it means to be a great place to work. If your employees were surveyed, how do you think your company would rank?

The good news is, it doesn’t matter what type of business you are in. A company that essentially sells happiness … say, a toy factory … could be a miserable place to work. Likewise, people assembling something as dull as toothpicks could be thrilled to go to work each day. It has little to do with the product or service being sold and everything to do with attitude and atmosphere.

I’ve spent time wading through “Best Places to Work,” and “Greatest Workplace” lists from around the country and companies topping the lists seem to have a lot in common. Here are a few traits they share:

Good workplaces facilitate balance

People are happiest when their work and home lives are in balance. Companies that consistently top lists of best places to work offer flex time, job sharing, telecommuting and other solutions to workers who have small children, elderly parents or personal issues to take care of. Giving employees the tools to help them manage the challenges they face at home helps them focus better on work. Peace of mind increases job satisfaction. Forcing someone to miss her 6-year-old’s debut as George Washington in the school play could cause long-term resentment against an employer.

A good workplace keeps employees engaged

In a good workplace, management doesn’t just rule from on high. When workers are challenged and asked for input they feel more valued. This doesn’t mean managing by majority rule. Rather, it means solving problems by gathering information from the people closest to the problems who have to live with the consequences of your decisions.

A good workplace offers opportunity

Workers who see proof that their company continuously challenges employees, promotes from within and offers additional training report being happier. A great workplace doesn’t have any dead-end jobs.

A good workplace fosters good communication

While employees shouldn’t expect to be privy to every financial detail or personal information about management and co-workers, a good workplace has few closed-door meetings. Information is shared freely and everyone from top to bottom understands the company’s values and mission. Clear communication builds trust, and people who trust their employers enjoy their jobs more.

A good workplace recognizes performance

Complimenting the work of others goes a long way toward creating a happy workplace. People just stand up a little straighter after they’ve been given a pat on the back. Whether it’s a monetary bonus or an employee of the month plaque, recognition builds loyalty. Happy workers take pride in what they do, and recognition builds pride.

A good workplace is fair

High pay doesn’t usually make the list of characteristics that qualify a company as a great workplace. That’s because money alone doesn’t make an employee enthusiastic about coming to work in the morning. That said, a worker will never be happy if he or she isn’t paid a fair wage no matter how many of the other “great workplace” criteria are met. And yes, people do compare paychecks with each other in the same company and with peers outside the company.

A good workplace is fun

Great workplaces seem to have a lighter atmosphere because workers and management recognize the value of humor, fun and relaxation. Getting together outside of work or taking time to share a story around the water cooler or lunch table help make the place people spend almost a third of their life more pleasant. People who laugh and smile at work have less stress and are more creative, productive and open to idea sharing.

A good workplace is a good citizen

People are happier at work when those outside of their company recognize its name for good things it has done in the community. Companies that support charitable causes and encourage employees to do likewise often earn a reputation as a good place to work.

A good workplace is consistant

In times of high unemployment people often feel obligated to take any job they are offered and do anything to keep it, so business owners don’t worry as much about their company’s reputation as a workplace. This is a mistake because employees will always be more productive if they are happy at work. And as the economy improves and unemployment drops it’s even more valuable to be known as a great workplace, because great workplaces attract great employees, and keep them.

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