Your company culture defines the personality of your company. It includes your company’s mission, values and ethics. It also describes the environment in which your employees work and your expectations of them. Your culture is evident in what you do and say and in how your team members treat each other. It is also evident in your products, decisions and how you relate to your clients.
A successful leader creates a positive company environment with shared values, goals and beliefs. The more clearly you define the culture of your company, the more likely you are to attract team members who are a good fit. In other words, candidates who share similar values and share your vision for the company.
To be successful as business leaders, we need to create positive environments with shared values, goals and beliefs. The more clearly that we define the type of culture we envision and strive to honor, the more suitable candidates we can attract.
Here at Pearl Collective, we recently had our yearly team planning meeting. With the whole team present, we took a simple personality test that sorted us into four different categories. It was no accident that the vast majority of the team fell into one particular category, while the others were less populated. We have hired for particular personality traits and work habits that benefit the company’s goals and fit with our culture.
Why is your company culture important for your firm?
Happy employees stay longer. Understandably a toxic environment leads to more turnover. Data from MIT Sloan Management Review shows that employee compensation ranked 16th in predicting employee turnover in many industries. It also shows that a toxic culture is the greatest reason for employees leaving.
Financial performance increases as happy employees are more productive. According to the Department of Economics at the University of Warwick, employees who are happy are 12 percent more productive than the average worker. Happy, productive employees can be a positive asset in attracting ideal prospects and aid in turning those prospects into clients. It can also set your firm apart from the competition.
Happy team members will reflect their enjoyment of their job by offering greater customer service for your clients. A supportive workplace where new ideas are welcomed creates a culture where your team wants to go the extra mile. They are more likely to feel that they are a valued member of the firm.
How can you improve your team culture?
Now that you understand what culture is, and what it can affect, you may be interested in developing your company culture and building a great team. Here are a few tips for cultivating the culture you desire.
Reflect Your Culture
Be sure your culture is clearly defined and that everything you and your team does reflects that culture.
Assure that the company’s vision and goals are clearly understood by everyone in the firm. Make sure the plan to reach those goals is also very clear. Create a sense of being part of a “team” rather than identifying as just individual employees so everyone in the firm knows they have a vested interest in the success of the company. It’s not just a job.
Be Open to Feedback
Be very open with your team and welcome their feedback and input. Listen to them and then take action where possible. If it isn’t possible, explain why and discuss other possible solutions. That might include opportunities for working remotely. You will need to evaluate whether working remotely will work for your firm, or possibly for certain members of your team. Think about this carefully to see if it fits your culture. It might be an easier fit for some positions but not others. Or you might offer the ability to work remotely 2-3 days a week. Whatever you decide, be sure it not only fits your culture but that it is clearly discussed when interviewing for positions within your firm. The Pearl Collective is an excellent example of a team that works exceptionally well remotely, with that team being located across the country – and beyond!
Create Special Events
Create company events such as annual team building days, birthday gatherings, team lunches, or milestone celebrations for special events. Team events such as this are great to help your employees get to know each other on a different level and helps build team morale. These are particularly important if any of your team members work remotely as it brings everyone together periodically.
Encourage involvement in the community and causes that are meaningful for your firm or your team members.
And remember, just because someone doesn’t want to participate in an event does not necessarily mean that they are a poor culture fit. Events may attract the more extroverted members of your team, while introverts may embody your culture best over email or instant messages.
Invest in Your Employees
Even if you are not able to offer major benefit plans, think of ways you can offer benefits that will show that you value your team. Those benefits might be different for each team member, or you could give them choices. Some ideas might include:
- Opportunities for ongoing learning such as providing access to courses or conferences
- If these conferences directly benefit the company, be sure to pay for room and travel, not just access.
- Physical wellness programs
- This could include free or discounted health trackers, gym membership, access to a mindfulness app, etc.
- Opportunity to attend local design events or networking events
- Paid holidays
- Paid personal days
- Family related perks
- Maternity and paternity leave
- Flexible hours during school dropoff and pickup times
- Flexibility for those providing care for a family member
Employee recognition shows your appreciation for your employees and lets them know they are valued. You can offer a monetary appreciation program or other incentive plan for going above and beyond one’s job description.
At Pearl Collective, we have established gifting as part of our culture. We show appreciation for our employees on their birthdays and during the winter holidays with a gift. These gestures tend to have a good return on investment!
You can also create a culture with opportunities for growth within the company. Each team member should realize that when they help create success for the company, they will be rewarded for their contribution. If you create this kind of culture, you will have people lining up to work for your company!
Avoid Micromanaging
Create a sense of empowerment and growth in your company by avoiding micromanaging. Rather, encourage your team to have the freedom to make decisions, find solutions, carry them out, be prepared to evaluate the results, and accept responsibility for possible failures while looking for ways to improve. Very few workers like to be micromanaged, and you’ll waste too much of your own time doing it! So foster a culture of independence and personal responsibility.
Establish Work/Life Balance
Understand and practice work/life balance. You don’t want to lose great team members because of burnout. So even if there are a few times that long hours may be needed, don’t let that become the norm. If your team is working overtime every day, then it’s time to step back and recognize that this will not create a positive work environment. And hopefully the culture of your company is such that the entire team addresses this challenge and brainstorms possible solutions together!
Remember that your firm’s culture is what sets you apart. Be sure to communicate your culture to attract ideal clients as well as ideal new team members. Showcase your culture through social media, via videos and photos on your website and through your firm’s involvement in the community. Make sure that you live and breath your desired culture, and make it a reality!
For more on culture, listen to our most recent podcast episode featuring team culture coach Sean Glaze!