Keeping employees happy is a sure-fire way to improve productivity within any organisation. And this can be achieved through instilling a good workplace culture so that employees are satisfied and turnover rates are minimised. Businesses that appreciate the importance of company culture understand the prominence given to investing in employees.
Good company culture also leads to better growth for a company. In his book, The Culture Cycle, Harvard Business School Professor Emeritus James L. Heskett writes, “Organisation culture is not a soft concept. Its impact on profit can be measured and quantified.” He also says that as much as half of the difference in operating profit between organisations can be attributed to effective cultures.
A 2015 report entitled “Culture and engagement” from Deloitte University Press said that, “Organisations that create a culture defined by meaningful work, deep employee engagement, job and organisational fit, and strong leadership are outperforming their peers and will likely beat their competition in attracting top talent.”
So, what are the tenets of a good company culture and how do you go about building it?
Set the tone, lead the way
Leading by example is the best way to get the most out of your employees. All team leaders must show the same qualities that are expected of the rest of the team. It's also important for those in command to be honest and transparent, even in difficult times. And, from the top down, everyone involved should be united in aiming to instil a good company culture. Not only should they know what they're aiming for, they should also be able to uphold it.
Empower your employees
This works both in terms of honing your employees' talents and giving them a sense of freedom. Giving employees the chance to grow within the company makes them feel that the company is investing in their future as well as nurturing their personal and professional growth. And, by not micro-managing, you empower your employees too. Instead of giving them detailed instructions on how to do things, provide general guidelines so they have the freedom to take on tasks and execute them. The more empowered they are, the more they feel connected to the organisation and want to perform better and do more for the company.
All employees should feel that they can be honest with their employer. Through a structured feedback tool, it's not just easy for employees to bring up their concerns, it's also easy for employers to keep an eye on them and know how satisfied they are, in order to take action if needed. Also, make it known that all employees are welcome to give business suggestions. Give them a voice and let them know that it's okay for them to come up with ideas for the company. When they know that they could have an impact on the company's growth, they're more likely to work harder and put the success of the company before anything else.
Once you have the right company culture in place, you're on your way to better-performing employees and bigger growth opportunities.