3 Keys to Foster a Better Company Culture
How To Foster A Better Company Culture
Company culture is much more than your mission statement and office atmosphere. Company culture is your shared values, goals, attitudes and practices. It’s the mindset of your company.
What do you want to achieve, and how do you want to achieve it? What do you believe in? If your company had a personality, what would it be? When you can answer these questions, you’ll know what your company culture is.
Why Does Company Culture Matter?
It might seem easy to brush company culture off as a touchy-feely, new-age concern. But actually, company culture has a big impact on every aspect of your business.
If your employees fit in with your company culture, they are more likely to enjoy their work and be happy in their position. Happy employees form better relationships with other team members and are even more productive, according to the Harvard Business Review. Plus, when a team member feels like they’re a good fit with a company, they’re more likely to be loyal and stay with you for many years. Reducing employee turnover is good for your productivity goals and your bottom line.
On the other hand, if you have an ill-defined or negative company culture, employees might be less productive and have more interpersonal conflicts with coworkers. In the end, employees who don’t fit in with a company culture are likely to leave the position.
And your company culture matters to more people than you and your employees. Potential hires will want to know more about your corporate culture so they can figure out if they’d be a good fit. Being known for your awesome company culture can actually attract talented applicants! Plus, customers may steer clear of a company that’s known for its toxic workplace.
The Keys to Better Company Culture
Glassdoor conducted a study around company cultures, and they found that there are 3 keys to fostering a great corporate culture. These are:
- A positive mission. Employees want to know that the work they do everyday contributes to making a positive change in the world. When they have a bigger purpose, they feel more fulfilled and motivated.
- Great leaders. Company culture should be top-down, initially. Your leaders set the tone for the entire company. They should be inspiring, empowering, empathetic, and effective.
- A clear pathway. When it comes to advancing their careers, employees want to know how to climb the ladder and where their roles can go. Hiring from within and having clear parameters for promotion is key.
One place that is well-known for having great company culture is the online shoe retailer, Zappos. They hire with an eye to company fit, making sure that any applicant would work well within their established culture. Zappos even offers new employees $2000 to quit after the first week if they don’t feel it’s a good fit. Raises and promotions are decided by skill-based tests, not office politics.
One way to foster a better company culture is with employee recognition. When your employees feel recognized and appreciated for their effort, you’ll see a positive change in your company culture.
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