Company culture refers to the shared values, beliefs, attitudes, and behaviours that characterise an organisation and its people. It can be thought of as the "personality" of a company, and it can have a significant impact on the company's success.
A recent survey by Glassdoor found that 56% of employees prioritize company culture over salary when considering a job offer. This underscores the importance of company culture in today's workforce, particularly among younger workers. According to the same survey, 77% of adults under the age of 35 prioritize culture when evaluating a job opportunity.
According to a study by Deloitte, 94% of executives and 88% of employees believe that a distinct workplace culture is important to business success. However, only 12% of executives believe their company is driving the "right" culture.
Some key aspects of a positive company culture may include:
Clear values and mission: A company that has a clear sense of its purpose and values is more likely to attract and retain employees who share those values.
Respect and trust: A culture that emphasizes respect and trust can help to create a positive and supportive work environment, which can in turn lead to greater job satisfaction and productivity.
Collaboration and teamwork: A company culture that encourages collaboration and teamwork can lead to more innovative ideas and better problem-solving.
Work-life balance: A company that values work-life balance can help to reduce stress and burnout among employees, leading to a healthier and more productive workforce.
Overall, company culture is important because it can have a significant impact on the success and sustainability of a business. By creating a positive and supportive work environment, companies can attract and retain top talent, improve employee engagement and productivity, and foster innovation and creativity. On the other hand, a negative or toxic company culture can have the opposite effect, leading to high turnover rates, low employee morale, and a lack of motivation and engagement.
There are a number of steps that organisations and leaders can take to develop a positive company culture. Here are some suggestions:
Define and communicate your values and mission
One of the most important steps in developing a strong company culture is to define your values and mission and communicate them effectively to your employees. This can help to create a sense of purpose and direction for the organisation and can encourage employees to align their behaviours and actions with the company's overall goals.
Hire and promote based on cultural fit
Another key strategy is to hire and promote employees who are a good fit for your company's culture. This can help to ensure that your workforce shares your values and beliefs and is committed to working towards your mission.
Lead by example
Leaders play a critical role in shaping company culture. By modelling the behaviours and attitudes that you want to see in your employees, you can help to create a positive and supportive work environment. This can include things like being open to feedback, showing appreciation for your employees, and fostering a culture of respect and inclusivity.
Encourage employee feedback and engagement
Employees who feel heard and valued are more likely to be engaged and committed to their work. By encouraging employee feedback and engagement, you can create a culture of open communication and collaboration, which can lead to better problem-solving and more innovative ideas.
Promote work life balance
Companies can promote work-life balance by offering flexible work arrangements, such as hybrid working, and by encouraging employees to take time off to recharge and rejuvenate.
Learning on the job
Leaders can also invest in training and development programs that help employees to develop new skills and improve their performance. This can help to create a culture of continuous learning and improvement, which can lead to better outcomes for the organisation.
Ultimately, developing a positive and effective company culture requires a commitment from leaders at all levels of the organisation. By prioritising culture and investing in strategies that promote employee engagement, collaboration, and innovation, companies can create a work environment that attracts and retains top talent and drives long-term success.
In conclusion, company culture is an essential aspect of modern business, with a significant impact on employee engagement, productivity, and retention. By defining and communicating your values and mission, hiring, and promoting based on cultural fit, leading by example, and encouraging employee feedback.
References:
"Culture and Engagement: The Naked Organisation." Deloitte. https://www2.deloitte.com/content/dam/Deloitte/global/Documents/About-Deloitte/gx-core-business-school-culture-engagement-naked-organisation.pdf
"What Is Company Culture and Why Is It Important?" Glassdoor. https://www.glassdoor.com/employers/blog/what-is-company-culture-and-why-is-it-important/
"Building a Strong Company Culture: Tips from Top Leaders." Harvard Business Review. https://hbr.org/2018/01/building-a-strong-company-culture-tips-from-top-leaders
"How to Build a Positive Company Culture: A Comprehensive Guide." HubSpot. https://blog.hubspot.com/marketing/company-culture
“7 reasons why workplace learning and development is more important than ever.” Seismic. https://seismic.com/blog/7-reasons-why-workplace-learning-and-development-is-more-important-than-ever/
Further reading:
McHale , S. (2020). The Insider's Guide to Culture Change: Creating a Workplace That Delivers, Grows, and Adapts. HarperCollins Leadership
Coyle, D. (2018). The Culture Code: The Secrets of Highly Successful Groups. Bantam