Creating and maintaining a strong company culture should be a top priority for every business. Not only does organizational culture impact company profitability and success, but it also has a significant influence on employee engagement and job satisfaction rates.
88% of workers and 94% of executives report that they believe strong company culture is crucial to business success. Research has identified a definite correlation between businesses where employees feel happy and the existence of a strong company culture. It is no secret that happier employees are more productive and therefore, more profitable assets to a business's success.
A common misconception is that a business needs a large budget for building company culture. However, even small business owners with limited financial resources can build strong company cultures and work environments.
8 steps for building company culture or improving an existing corporate culture include-
1. Open Communication
Strong company communication is crucial for a strong corporate culture. A work environment where employees feel uncomfortable communicating with one another will not only negatively impact job satisfaction levels, but can even decrease employee retention rates.
In order to build company communication, enterprises should encourage employees to ask questions and request employee feedback consistently. Additionally, including workers in decision making initiatives can help employees feel that their opinions are valued and heard.
Building company communication is not easy, but it is well worth it for the positive workplace culture benefits gained.
2. Aligning Core Values
Whether an enterprise is a small business or a large corporation, core values should align with the overall company culture. When brainstorming company values it is great to consider not only what employees want but also to ask questions regarding customer service initiatives.
Once a company has developed an idea of what core values and mission statement best reflect them, they can better hire people who are a great fit. Not only will this increase employee retention rates, but additionally the overall customer service capabilities and corporate culture of an enterprise.
3. Team Building
Companies can encourage employees to get to know each other better through team building activities. Team building activities are crucial for both building company culture and strengthening collaboration.
Examples of team building exercises range from wine tasting trips to all inclusive vacations. For a small business with a limited budget, something as simple as a paid lunch can go a long way.
Fun company outings may inspire employee social media posts, which can get top talent applicants interested in applying. As a result, the next time a business has an open position, they may find it easier to hire people who are a great fit with the corporate culture they've built.
4. Hiring Practices
Businesses that hire people that support core values and their mission statement are more successful. Corporations should make sure to hire people that are a great fit for both their company culture and work environment overall.
Each new hire can impact company culture in a unique and lasting way. Therefore, an important component of building strong company culture is determining which people fit and which do not.
5. Onboarding Consciously
The onboarding process heavily impacts the way employees feel about their business. One great example of a company that goes above and beyond during onboarding and training is JetBlue.
JetBlue invites both new hire employees and their spouses for an all inclusive orientation, full of fun activities and opportunities. No doubt due in part to their extensive onboarding efforts, JetBlue's profitability rose to $168 million in 2013 from $58 million just 4 years prior.
For a small business that does not have the same resources as JetBlue, there are lower cost ways to build a strong company culture. Examples range from every day check ins with co workers to work environment upgrades.
6. Encouraging Collaboration
Although each employee will impact company culture, the best employees collaborate with their co workers to consciously build a strong company culture. Employee engagement and job satisfaction rates are boosted when employees feel not only comfortable, but inspired working every day with each other.
7. Using Experience
Building a company culture that people want to work at is difficult, especially if everyone wants different things. A great way to begin understanding what people want at a specific organization is to ask questions about their previous corporate culture and work environment experiences.
Facilitating employee feedback and learning what company values are the most important to each team member will positively impact company culture.
8. Consistent Evaluation
Organizational culture necessitates consistent maintenance and reevaluation. Businesses should request employee feedback and regularly audit their company culture.
Thankfully, using the above tips, building a corporate culture that employees want to work at every day is attainable.
Building and maintaining a great company culture should be a top business priority.
Tips for building strong company culture include open communication, aligning core values, team building, hiring practices, onboarding consciously, encouraging collaboration, using experience, and consistent evaluation.