A few years ago, companies generally paid close attention to their revenue to understand the success of their business. They focused on improving profit margins more than ensuring a positive employee experience. Surprisingly, today’s world of work requires the exact opposite.
Traditional metrics are no longer the sole indicators of a flourishing business. More than numbers and statistics, it’s important for leaders to focus on intangible things. They need to understand that something like company culture drives growth as well.
What Is Company Culture?
The term company culture is frequently discussed across all industries. Although it has trended before, not everyone is on the same page when it comes to its definition. Some professionals think it’s based on company dress codes and policies. Meanwhile, others think it focuses more on the brand a business builds.
So, what exactly is company culture? It’s a concept that encompasses the values and norms within an organization. It reflects the majority of a workforce’s beliefs and behaviors. From entry-level employees to top executives, your company culture affects your people’s experiences within your business.
Although a strong company culture can look different for every organization, it typically includes the following components:
- Clear Core Values. Company values act as your people’s guide in making decisions. When employees fully understand and embrace your values, it’s easier for them to choose options that will benefit the entire company. It would also foster a unified sense of purpose and direction regardless of which team your professionals are a part of.
- Open Communication. To create a corporate culture where individuals understand one another, it’s vital to encourage communication. Employees who can freely speak their ideas and opinions are more likely to collaborate with others. This can also lead to innovative solutions and a more agile organization.
- Inclusive Work Environment. Another component of a healthy culture is having an inclusive working space. When all employees feel valued and respected regardless of their background, they tend to offer the same kindness to their co-workers.
How Can Culture Drive Growth?
Your organizational culture is more than just branding. While it’s a factor that can greatly improve business metrics, it can enhance growth beyond just numbers.
Here’s what we mean.
Enhanced Innovation and Creativity
Fostering a strong corporate culture can significantly enhance innovation within your team. It encourages collaboration, which can result in new and exciting ideas. Since a positive organizational culture usually comes with more autonomy, it can also motivate your professionals to take more creative routes rather than traditional ones.
Improved Products and Services
Your culture can directly contribute to the quality of your products and services. When you can identify clear values and goals for your business, your employees are guided in their everyday responsibilities. They have the capacity to align their tasks with your mission and vision. This makes it easier for them to create outputs that meet your expectations.
Higher Employee Engagement and Retention
Employees who feel valued and connected with their work are more likely to remain engaged. This involves participating in collaboration efforts or attending skill development opportunities during workdays. Moreover, an engaging environment can lead to even more benefits for employers. For example, a professional dedicated to their work may feel more satisfied with what they accomplish on a day-to-day basis. Remember, the more fulfilled a professional is, the more likely they will stay within your organization.
Read More: 5 Reasons Why You Should Prioritize Employee Wellness and Well-Being
Steps to Create the Ideal Company Culture
From increased employee engagement to lower turnover rates, a company’s culture truly is important to ensure success. If you’re wondering how to improve company culture within your business, consider taking these steps:
1. Establish Mission and Vision
Create an ideal company culture by establishing your mission and vision. Although they may seem like simple statements, they serve as your people’s basis for long-term success in their positions.
Think of your mission and vision as a roadmap for both decision-making and behavior. When your people understand the end goal of your company, they can easily assess which decisions would be the most beneficial for your business. They can also ensure that their actions clearly align with your company’s unified goals and expectations.
2. Uphold Ethical Standards
There’s no perfect workforce in any industry. Even the highest performing employees make mistakes from time to time, but what’s important is that they are held accountable for their errors. As an employer, take steps to ensure your people are held to a set standard of ethics.
For example, you can enforce clear orders that promote integrity among your workforce. It’s also possible to set rules like a zero-tolerance policy against discriminative and unfair behavior (we’ll go deeper into this later).
To make this step even more effective, take the time to ensure that everyone in your company understands the consequences of their actions. Regardless of where they are in your organization structure, it’s vital to always hold your people to set ethical standards.
3. Lead by Example
A good company culture is only possible if leaders model the behaviors and values they want to see in their employees. Since culture is an intangible concept, it may be difficult for some to understand it. This is why you need to serve as an example for them. For instance:
- Stay committed to your business values.
- Make sure your decisions contribute to the company’s mission and vision.
- Treat everyone with respect regardless of their background.
By demonstrating these actions, you’re inspiring your teams to put in the same effort to create a positive work culture and environment.
4. Employ Zero-Tolerance for Discrimination
An inclusive environment can bring professionals together from different backgrounds. When individuals feel accepted and valued for who they are, they are more likely to share their ideas and strive to meet company-wide goals.
For this to happen, as mentioned above, it might be beneficial for you to employ zero-tolerance policies to fight any form of discrimination between your employees. Ensure that all your professionals are treated with respect and fairness. Implement necessary rules and regulations to guarantee that everyone feels comfortable to be themselves in their work environment.
When your business has zero tolerance for discrimination, it’s easier for employees to experience a positive culture within the workplace. They can innovate and discuss without the fear of being judged by others.
Read More: 8 Tips HR Professionals Can Use to Reduce Bias in the Hiring Process
5. Perform Regular Improvements
Industries change in the same way your workforce does. This is why it’s necessary to conduct regular assessments and make improvements to your culture.
Begin by creating platforms for honest feedback. Remember that your people have first-hand experience of what it’s like working for your company.
Understand your people by learning about their observations.
Consider their suggestions when improving different aspects of your business.
Value their ideas and opinions by creating plans that solve the issues they raise.
Read More: 8 Tips to Overcoming Process Bottlenecks for Improved Efficiency
HIRE WITH YOUR COMPANY CULTURE IN MIND
In the midst of business growth and improvement, the best way to maintain company culture is to prioritize cultural fit when hiring. Instead of making it an afterthought, put compatibility at the top of your list. Ensure new hires will thrive in the environment you’ve already cultivated.
How? Partner with experienced staffing firms like Masis Staffing. Offering tailored solutions, our primary purpose is to connect businesses with the right professionals. Hire people who will fit in with your company from the get-go.
