Culture does more for a company than provide employees a great place to work. It can set you on the track for long-term success. When you actively develop your culture based on a clear set of values, beliefs, principles, and expectations, you’re essentially establishing a personality for your business, and that personality helps to differentiate you in a number of different ways:
Supports recruitment efforts. Developing and cultivating a company culture has two main advantages for your recruitment efforts. The first relates to your company. When taking the time to define the unique characteristics of your company, like vision, values, purpose, and guiding principles, it’s much easier to identify the right candidates. You know who fits and who doesn’t.
The second advantage is all about the talent.
A clearly defined culture can be used as a recruitment tool. It’s a benefit of working for your organization.
If part of your culture involves community outreach, which I’d recommend, you’ll attract that young, socially connected, and well-educated talent who want to commit to a bigger cause. With them comes a fresh energy, new ideas, and a desire to innovate.
Improves retention rates. Companies with rich organizational cultures are more likely to experience turnover rates of just 13.9 percent, while those with not-so-rich cultures can often expect a turnover of 48.4 percent. Why the huge difference? Culture influences the happiness of your staff.
Investing in your culture is like investing in your employees. You’re telling staff exactly what your company stands for and how much you value and appreciate their efforts. And when people know they’re making a difference and feel valued for their work, they tend to work harder and stay longer, which has a ripple effect on the rest of your staff. You’re not only attracting new talent but retaining that highly skilled and older workforce that got your business to where it is today.
Cultivates a sense of ownership.You can always assign accountability, but you can’t do the same with ownership. It’s up to the employee to take that on, and this is where culture comes into play. Because your company culture enables each employee to take pride in his or her work, the team as a whole naturally begins to take ownership of its duties and responsibilities in the workplace. They want to tackle any hurdle standing in the way of their success and the success of the company, and they’re also more apt to hold other team members accountable for their duties and responsibilities at work.
Promotes team collaboration. Culture also has a way of building a shared purpose for the work. When everyone is moving in the same direction and working toward the same goals or objectives, the team itself begins to place more and more value on individual contributions. They know that without their team members contributing to the greater good of the company, success becomes less likely, thereby setting the stage for better collaboration in the workplace.
Breaks down barriers. That unified vision that comes from a rich culture helps establish a unified leadership team. With everyone on the same page, managers often cease to work under the mentality that “this is my department and that’s yours.” Instead, they start to see the organization as a whole, which breaks down the silos between departments. It also has a trickle down effect of breaking down the barriers between old and new employees, between younger and older professionals, and between men and women on each and every team.
When you align your culture with your values, beliefs, principles, and expectations, you’re well on your way to building a solid reputation for your company — one that attracts top talent, retains skilled workers, and promotes an environment of collaboration and ownership. In other words, you’ve readied the platform for continued growth and success.
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Dr. Jan Hoistad
Lead Coach. Business Development Consultant. Thought Leader. Entrepreneur. Author. Dr. Jan Hoistad is passionate about helping professionals, business owners, partners, and teams develop the skills necessary to achieve success and fulfillment in both their occupational pursuits and personal lives.
With 35 years of experience, Dr. Hoistad has been a pioneer in the field of professional coaching. She’s advised countless CEO’s, executives, business group heads, emerging leaders, partners, teams, and professionals through career transitions and business developments, teaching them how to dig deep, and sometimes loosen up, so they can start living by their values, finding their purpose, and achieving their professional and personal goals with intent and confidence.
By helping professionals see that personal wholeness is a means to achieving optimum professional performance, Dr. Hoistad provides her clients the tools to become catalysts for change in their own businesses, careers and lives. They learn to leverage their strengths, build on their expertise, and expand their influence to become true innovators in their fields.
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