It is sporadic, this magic moment where work, people, profits and energy come together. It is sporadic, but it is possible. When people feel comfortable in a space, when they feel valued, when everyone thinks work really counts, this balance is never accidental. Someone (usually a lot of people) has worked to build this amazing work culture, also known as Corporate culture.
What is Corporate Culture? .
Corporate culture is a term used to describe how people define the values, objectives and overall environment of their office. While founders and HR leaders usually develop and evangelize culture, it is an ever-evolving, employee-centred concept. These values should appeal to employees and give them a sense that their work matters and serves a broader purpose. Corporate culture is both how organizations do it and why. That is what makes the difference between a team of workers, happy employees and a grumpy group of outsiders.
Attributes of a Strong Organizational Culture.
Businesses with a strong corporate culture tend to be the type that people dream of working for. These companies hold values that are not limited to a poster in the kitchen. On the contrary, employees of these companies can easily explain what their business is doing and why. The organization has a personality.
As well as having a clear mission, companies with a strong organizational culture see transparent communication between management and employees, and collaboration between peers. Employees know what is going on within the company and why certain decisions are being made. They are ready and willing to help their colleagues, even when a project is not part of their daily responsibilities. These companies also tend to provide their employees opportunities for growth, with strong internal development programs and clear career ladders. Employees feel supported, valued, and in the know.
Why Corporate Culture matters for your Business.
The odds are stacked against a healthy culture: 85% of employees are actively disengaged from work, and one-third of employees plan to quit in the next year, according to a 2019 study. Another study from 2019 revealed that employee loyalty has declined in 20 sectors, and people cited the weak corporate culture as the cause.
Lack of commitment means people do not really work—or they do not work to the best of their ability. Wavering loyalty means that employees do not find value in the organization’s goals or do not trust leadership as it causes a lot of staff turnover. And if you do not like your job and do not trust leadership, you are definitely not persuading anyone to join the team, which makes it harder and harder for HR to find new employees.
A positive Corporate Culture can enhance talent Development.
The balance between a healthy culture is hard, but not impossible and many organisations have cracked the code. In an astonishing leap to the top, Hilton was the first on Fortune’s list of the top 100 companies to work for 2019. The previous year, they had arrived at 33rd; a focus on diversity and inclusion, a free GED program, and up-to-date trade shows was cited as agents of change. In other words, Hilton has given its employees a reason to be proud (enhanced diversity and inclusion); access to meaningful benefits (education); and a comfortable and welcoming workplace (employee lounges).
The data also points to good news. One study found that 81% of millennials want companies to be good corporate citizens, and 62% of them would take a pay cut to work at a socially responsible organization. Another study showed that, the majority of employees looking to quit their jobs are looking to work for companies whose mission fits their passion.
Sometimes the culture changes over time, sometimes within two (2) years: Salesforce has been on Fortune’s list of the best places to work for a number of years. It is a great movement? Spend USD $6 million over two (2) years to address the gender and race-based wage gap across all levels of the business.
Four Steps to Building a Great Organizational Culture
A multi-faceted concept like corporate culture does not lend itself to an easy solution. There will never be a band-aid solution for the wrong culture, but there are some areas where we need to focus—where change can really happen.
1. Begin by assessing what employees enjoy.
Although the corporate culture comes from management, it does not make sense if it does not reflect employee values. Begin by evaluating how employees feel honestly about their job and the organization as a whole. While there may be work to be done, it is important to understand how people feel and feel about the organization. Concentrate on what interests and motivates them to do their jobs. Seek out common themes, and begin to build a mission that combines your vision with these perspectives.
2. Develop the Company’s mission
Sometimes the mission is simply to provide something, such as bed linen, to the guests. But when that mission becomes “deliver simple, beautiful home essentials at a fair price, with a personal touch”, suddenly the people who work for your company are not just selling sheets—they are selling quality, simplicity, beauty, and honesty. And you too. If everybody accepts this mission, your business is a reflection of it. Do not complicate things too much, but make sure your mission is unique and authentic. How is your business different from the competition? These words shall guide you.
3. Leadership and Labour ought to carry the Torch.
Lots of emphasis is placed on leadership when it comes to setting the terms of company culture, and without a doubt, you cannot have a healthy culture without leaders who live it. But there are many companies that survive management changes or mergers without sacrificing their culture, and that is because the employees carry the torch. A balance between staff and leadership is necessary to sustain a healthy culture. People often point to change, sometimes loud and clear and it is up to management to listen and act.
4. HR should strengthen and Supervise the Culture.
At best, human resources are a bastion of culture and the bond between employees and managers. Consider HR as the guardians of culture. They are also accountable for hiring, the most important way to build and change the culture with people. If your new recruits are enthusiastic about working and believe in the company’s mission, you are more than halfway there.