Any time a group of people interact with one another on a regular basis, an individual culture forms. As such, each company has its own company culture, which can determine to a large extent the success of the organization and the satisfaction of the employees. While a culture can organically form, managers and business owners can take steps to shape a strong and positive company culture with the steps below.
The Importance of a Winning Company Culture
A company culture is “an intangible ecosystem” according to a source, which involves “the ideology of an organization.” When your company has a strong company culture, it influences a multitude of factors that can truly make or break the success of your business. Everything from more effective teamwork, productivity, employee loyalty, reduced turnover and help with attracting top talent.
Steps to Create a Strong Company Culture
The truth is that regardless of how talented and experienced your colleagues are, if you don’t have the culture to promote their attributes, they won’t be able to thrive. Follow these steps to create a company culture that develops winners:
1. Decide What Your Core Values are
A company culture should be based around the core values of the company, which are created by the business owners. Other than making a profit, what do you want to see from your employees and how do you want to shape their lives and overall society?
If you want to involve a philanthropic initiative, build your culture around that. Is your focus more closely aligned with teamwork and productivity? Consider how to foster relationships between your staff members to promote collaboration. Do you want to be known as a company that offers the best customer experience? Put strategies into place that reflect that desire.
The fact is that a corporate culture develops best when it is based on certain beliefs and is focused on a specific course.
2. Choose the Right Colleagues
Every hiring decision needs to consider whether the candidate would make a good addition to your team. Would this person be able to fit in and uphold the values you deem important for your company?
Oftentimes, employers tend to hire the same type of person, who either resembles them or another star employee. However, a successful environment is one that contains diversity, and hiring employees who have different strengths and points of view can help foster creativity and innovation, which will drive a positive culture.
3. Promote Transparency
A thriving company is one where every single employee feels valued and appreciated. The old world model of a hierarchy that keeps information locked at the top is outdated, and transparency is the new normal in the professional world.
A healthy company culture is one that democratizes decision making and gives everyone a voice. Instead of shielding your employees from sensitive news, involve them in the process and witness how much more invested they will become in the success of your company.
This article originally appeared in IOU Financial.