Why You Should Develop Your Company’s Culture
In the past article Famous Brands: Here Is Why People Love Them, we saw that what made successful brands successful was mainly their ability to ‘connect’ with their customers.
However, before ‘connecting’ with someone, you must know how to define yourself, especially for a business. Everything should be clearly stated as you are composed of many individuals working for the same values. It is therefore important to communicate them internally to your employees as they will be the ones publicly representing you.
This internal movement, and link is what we call in our jargon a company’s ‘culture’. And in this first article, I am going to list the 4 benefits of having a strong company culture.
Fist of all, it can be wildly acknowledged that a company’s culture develops the company’s identity. Indeed, what makes one’s identity is what one does different from the others. Thus, developing a company culture will consequentially differentiate you from your competitors.
Building a company identity does start with a specific logo, and shop or business design; however, it also goes with the values and behaviors the employees carry along.
Training employees to enhance their customer awareness, or even encourage them to do their best, and be passionate about what they are doing is part of culture. Speaking up one’s mind regarding a strategy inputed by a leader, because one thinks he or she has a better idea is also part of the culture and the business’ identity. Indeed, in other firms on might be asked to stay quiet.
You might believe that as the company culture is an ‘internal’ matter, it does not reflect outside. Let me tell you it is wrong.
For instance, what do you think of Google? As Sujan Patel wrote, “It would almost seem wrong not to mention Google on a list of companies with great culture.”
Indeed, for when one mentions Google, one of the first thought that comes up to one’s mind is “Free meals, employee trips and parties, financial bonuses, open presentations by high-level executives, gyms, a dog-friendly environment and so on.”
In order to double-check this correlation, check out other companies with awesome company culture such as Zappos or Facebook. Check out also the hiring requirements for Netflix or Spotify and their websites. Are they not culture oriented?
Fun yet professional; challenging and stimulating; personally rewarding, and feelings of personal and professional fulfillment… These positive company cultures share hopeful brand images. What these successful companies are willing to give is refreshing for the customers, who feel more connected to the brand, and are willing to pay the value added to the product.
And guess what: that value is created upstream by the company culture.
Attracts & Retains Talent
Other than the fat paycheck at the end of the month, talented people are seeking for fulfilling working environments, and challenges that will push them beyond their limits.
Having a strong company culture, not only attracts people… It attracts the right people. Focusing on culture within a company makes the recruitment process easier. Indeed, hiring someone is not only about skills anymore, but has a broader focus: personality.
In fact, as Lisa Haneberg explained, companies would benefit more from agility-oriented employees than rigid ones. She also explains how company culture can enhance these ‘agile’ behaviors.
Skills are not the only feature that matters. Figuring out the right employees for your business is also essential. As Fred Wilson said: “Building product is not about having a large team to manage. It is about having a small team with the right people on it.”
Once your company has attracted the right people, if its culture allows it, it is also able to retain them.
Indeed, if a professional feels satisfied in his or her job, they will have no reason to quit. Thus, as a CEO, or manager, you can confidently build your team. You will know what to expect and which way to go, for you are all working under and for the same values.
Companies such as Adidas or Bosch have various techniques in order to retain their employees. You can have a look at each of these 39 companies’ focus strategy to retain talent.
The last reason you should not forget about your business’ culture stand in one word: Millennials.
Indeed, they are now on the market place (or almost there). They are ready to reach for the world, and grab, and work for any opportunity that would happen to show up. They are seeking for these fulfilling professional opportunities, where work is not only a matter of fixed hours, and hierarchical means.
As stated in The Guardian’s article, “Millennials are seeking for purpose over paycheck”; and that has not been more truthful than nowadays with upcoming economic growth, global changes, and rise of the startup era.
Make sure to aim for the future; start developing your own culture.