The importance of company culture especially during this time
Company culture is everything when it comes to building an effective, productive, and motivated team, especially during the global pandemic.
Now more than ever, organisations are embracing and enforcing strong company cultures that unite employees, make them feel valuable and reassures that they’re part of a strong team and organisation.
A recent study by Quartz and Qualtrics found that 37% of workers believed that company culture had improved since the pandemic, young workers are more optimistic about culture improvements and 52% of people feel more purposeful.
So, what is a company culture?
Formally, company culture consists of the overall character and mission of an individual company and is defined by a company’s mission, values, practices, brand narrative and overall ethos. [Masterclass].
Howard Schultz, former CEO of Starbucks, believes in overinvesting in company culture, defining it as the “behaviour of the organisation that should express it’s values and guiding principles, which ultimately define its core purpose and reason for being.”
Less formally, it describes the way a company interacts with its employees and how its employees interact with them. It’s the “glue that keeps your organization together and functioning smoothly.” [Blueleadz]
Why company culture is essential
Your employees are your business. Without them, you have no organisation, no company, no services or offerings to provide. Keeping your employees happy ensures you stay in business. The right company culture not only gives you a competitive advantage, but ensures your employees stay loyal and is the backbone of a happy workforce.
According to a study by Deloitte, 82% of participants believe that culture is a potential competitive advantage and according to statistics by Blueleadz, happy employees are 31 percent more productive than their unhappy counterparts.
In another Deloitte’s survey, results found that there was a correlation between employees who say they are “happy at work” and feel “valued by [their] company” and those who say their organization has a clearly articulated and lived culture. Furthermore, 94% of executives and 88% of employees believe a distinct corporate culture is important to a business’ success.
So, how can you build a company culture that lasts?
The following components have been widely recognised as important points to consider when you’re building an effective company culture that lasts.
- Focus on your employees
Find ways to continuously uplift them and improve their physical and mental states not only at work, but outside of work too. Focus on wellness incentives and programmes, teambuilding, health initiatives and other fun activities that can help them destress.
- Show gratitude
Over and above investing in your employees’ wellbeing, make them feel appreciated and valued by showing them gratitude. Thank your employees for their work with acknowledgement and incentives. Also take time to listen to and acknowledge your employees’ grievances as well and implement solutions.
- Provide purpose
A company can’t build a culture without any meaning behind its work. Employees want to feel like they have a purpose, and their work has meaning. Find ways and examples that show meaning and purpose to employees. Incorporate these into your mission and values.
- Create goals
Employers need to create clear goals and objectives together with their employees that everyone can work together towards. This fosters a sense of belonging, reiterates purpose and meaning, and encourages teamwork.
- Start at the top
Culture is infectious. If you want your employees to buy into your company culture, it’s essential that it starts at the top. Leadership need to enforce company culture in their day-to-day interactions, actions and activities. They need to model exactly what their company culture embodies.
A positive company culture is everything. It enforces happiness, a productive working environment and is one of the best ways to get your employees to invest their talent and future with your company.