Company culture has a different kind of meaning. Technically, corporate cultures are the customs and standards that the members of a company value.
It includes the everyday behaviors and policies that affect a company’s work environment.
Most importantly, culture is the unseen force that motivates your team to perform better.
According to a recent Gallup poll, only 32% of employees are actively engaged in their jobs. If your employees aren’t committed to and enthusiastic about work, it is time to examine your company culture.
Once you fix to improve the company culture, your business will get a benefit such as:
- Higher engagement and productivity
- Greater creativity and innovation
- Improved morale
- Greater ability to attract top talent
- Higher retention
- Increase in revenue and profits
To develop a better company culture, the company can implement the below steps. It will benefit your business for years to come.
Gather More Feedback
A company culture that encourages more and better feedback benefits both employees and the company.
Annual performance reviews are not sufficient because they less effectively provide employees with the tools to improve and grow.
Giving frequent constructive, candid feedback is beneficial to everyone.
Most managers seem less likely to give negative feedback. Nonetheless, 72% of employees in a Harvard Business Review study describe that they thought their performance would improve if their managers provided more corrective feedback.
Moreover, the same survey also found that 57% of people prefer corrective feedback rather than praise and recognition. Based on this data, we can conclude that employees want managers to behave more like mentors.
Hence, if the company desires better feedback, management can listen to their employee feedback through informal situations.
Although hearing the feedback is a less easy task, the company shall praise the employee who speaks up and follows up. This thing will contribute to the company’s growth.
Reward in Public, Coach in Private.
Another key to improving company culture is to recognize and reward top performers. Rewarding top performers fosters healthy competition and a positive corporate culture.
These programs don’t have to be excessive! The company can announce departmental awards, certificates of recognition, or annual bonuses.
Recognize your employees and reward them for their efforts as often as possible. It is a simple thing to do, but it can boost employee morale.
Employee recognition also helps to reduce turnover: 20% of companies with a culture focused on employee recognition have a 31% lower turnover rate.
On the other hand, underperforming employees sometimes just need a little extra training. Therefore, management must find ways to initiate self-improvement programs without embarrassing or exposing their flaws.
Many companies have realized the importance of providing flexibility to their employees.
Providing flexibility can offer a benefit to the staff’s personal lives besides their daily tasks. This working method offers employees to contribute more in daily tasks for the company.
From the staff’s point of view, they’ll see you as a caring employer. This effort also enhances loyalty and trust from the employee. In fact, the management can reduce the possibility of high turnover, and gain more engagement.
Communication Is A Key
The company vision is important for your employees. Therefore, the management shall communicate the strategy. It includes setting short-term goals and long-term goals.
In achieving this vision, management and organisation members should have effective two-sided affair communication.
Lack of communication often makes employees feel stifled or out of the loop. If your team has ideas to improve team performance, the leader can provide space to speak their voice.
So, communication is key for anything. It strengthens the relationship and helps to defuse conflict.
Well-Being Comes First
Happy employees are the characteristic of great company culture. In the workplace, creating a psychologically safe environment improves employee satisfaction.
By cultivating a work environment centered on employee wellbeing, you create an atmosphere where employees feel comfortable, included, and trusted. In this case, the staff can provide more creative ideas to solve the problem.
Stay True To Your Core Values
Before making improvements to your corporate culture, the management can identify the type of environment requirements.
A company is a group of people who work together to achieve one goal. Establishing clear company values and objectives is critical to building a good company culture.
Core values are much more than a list of bullet points on a company’s About Us page. Core values are a company’s North Star.
They are the guiding principles of an organization, informed by its mission and goals.
Lolly Daskal wrote a great article for Huffington Post about this. In it, she described the concept perfectly:
Your values determine what is important and meaningful to you. They align with your purpose and speak loudly and passionately to others—and to yourself—about who you are and what you’re called to do in this world.
For this reason, the best way to establish a great company culture is to have everyone embody your core values.
To sum up, improving company culture is an essential part of operating a successful business.
If you lose on it, the changes may drive people away from the target.
Building a great company culture isn’t something that will happen overnight. Therefore, you can start by communicating with your employees and setting clear goals.
The topics in this article serve as a formula to help you achieve organizational success. All you need to do is create an environment where your team can flourish.
Finally, putting your employees first will create a great work culture and make your company more profitable.
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