Many have heard of the phrase – company culture. It is almost universally used today in discussion about company growth and company failure. But what is company culture, and why is this important?
Company culture is the behavior exhibited through the employees of a certain company. This can be a shared set of morals or ideals throughout the company, a way in which a task is performed, or even the interactions of employees with other employees. One of the many fascinating things about company culture is that it remains unique to each company that has one.
The idea of company culture is commonly associated with business events such as a change in executives or a merger or acquisition. Oftentimes, one of the biggest worries in these scenarios is whether or not an incoming executive or company will fit the current company culture.
When this happens a practice called a “culture transition” occurs. To successfully complete a culture transformation a company must align the current and incoming values and morals with the new business plan, increase active communication within the company, and formulate a new company vision for the future.
However, these practices are not easy to complete effectively and only 1 in 8 culture transformations succeed. There are five things that must be done to ensure your company is a part of this minority statistic: future vision, strategic imperatives, skill training, job alignment, and reward success.
Future vision must be executed to offer a compelling solution and ideology for the employees. By clearly defining what will be done in the future, you can entice employees to innovate and stay with the company to see out the vision.
Strategic imperatives help simplify the company direction and allows for employees to know exactly where the company is looking to innovate. By narrowing down a strategy to one or two you can offer a concise vision to your employees.
Skill training is necessary for an effective company transformation because it outfits your employees with the necessary tactics and knowledge to help your company succeed. It also helps create a valuable environment of high performance and places for career advancement.
Job alignment is integral in employee based culture. By offering jobs that provide the necessary passion for your employees you allow them to become immersed and passionate about their future prospects and current job.
Reward success, while self-explanatory, is a very important step in aiding a community based culture. It is a reinforcement tool that can assist and benefit positive changes in a culture transformation process.
Considering when to invest in company culture can be tricky, but if you are seeing a decline in employee productivity, are less than satisfied with your returns, or receive employee complaints then you may benefit by looking into your current culture.
Even if these things do not seem to fit your business, looking into your current culture can be beneficial. Knowing how your employees feel can be an important preventative step in fostering a positive and meaningful work environment.
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