- Publish date
- Feb 8, 2022
As a CEO or hiring manager of a technology firm, you are under constant pressure to discover the best talent. There is a real skills shortage in tech, with 60% of businesses reporting it in 2020. Staff retention and attraction are crucial if you want your business to thrive. But why will employees choose your company over others, given that so many firms are competing for the top talent?
According to statistics, 46% of job seekers evaluate employees through company culture, making it one of the most important factors that influence their decisions. Furthermore, the right company culture can make all the difference in retaining staff and making them feel valued and appreciated. It's not just about ping pong tables and beer on tap, though those things don't hurt. There are a few key things you need to get right regarding company culture.
What Is Company Culture?
Company culture can be defined as the shared values and beliefs that guide how employees behave in and outside of work. It's what makes each company unique, and is essential for creating a sense of identity and purpose for employees. It is also about trust, mutual respect, and loyalty between the staff, their managers, and the company as a whole.
Often, corporate culture is implied, not expressly defined, and develops organically over time from the cumulative traits of the people who work there. A strong company culture can help businesses attract and retain top talent, be more efficient, and make better decisions.
Why Is Company Culture Important?
Company culture is one of the essential factors for staff retention. Staff want to feel like they are a part of something, that they are valued and appreciated. They want to know that their work matters and that they are making a difference.
If you get it right;
- Your staff will be inspired to go above and beyond what is expected of them.
- They will increase productivity because they feel connected to the business and what it stands for.
- They will genuinely care about the success of your company because they feel valued and appreciated.
- Your company will attract new talent.
If you get it wrong;
- The staff turnover will increase
- Recruitment costs will rise
- Productivity may fall
- There is a higher risk of lawsuits as your employees might not feel that their needs are being met.
Without a doubt, getting the company culture right will be the difference between the success and failure of your business.
So, how do you go about creating a company culture that resonates with your employees? It starts with understanding what your employees want and need. Every company is different, but there are some common themes that employees want:
A Sense of Purpose
Employees want to do meaningful work, and they want their company's goals to align with their own. If your employees don't know what you're trying to achieve or why it matters, they won't be motivated to do a good job. Make sure you communicate your company's goals clearly and ensure that employees have a say in how they're achieved.
A Sense of Identity
Employees want to feel like they belong somewhere, and they want their work to be connected to their values. Give your employees opportunities to connect outside of work and let them share their stories and passions. This will help create a sense of community and identity, which is essential for building a solid culture.
A Sense of Pride
Employees want to feel like they're part of something bigger than themselves, and they want to be proud of where they work. They want to know that what they're doing matters and that others value their work. Give your employees opportunities to make a difference in the world outside of work, whether it's volunteering at a local charity or donating money to a cause they care about. It will help them feel more connected and engaged with their company culture.
Once you've decided what your company culture is, it's time to get it right. Here are eight tips for getting it right:
1. Communicate Your Values Clearly
The first step in creating a strong company culture is communicating your values clearly and consistently. You can do this through mission statements, employee newsletters, and internal surveys. Employees will then understand what you stand for and why it matters, which is essential for creating a strong culture.
2. Make Your Company Culture Visible
The second step is making it visible through things like office decor, employee clothing, and marketing materials. For example, if your company values creativity, you could have art on the walls. It will help employees feel like they're living and breathing your company culture every day.
3. Encourage Employee Feedback
The third step in creating a solid company culture is encouraging employee feedback. Employees should be able to give feedback freely and without fear of retribution. You can do this through anonymous surveys, suggestion boxes, and open-ended questions in meetings. It will help you identify any issues that need to be addressed and ensure that your company culture resonates with employees.
4. Get Involved in the Community
The fourth step is getting involved in the community. Employees want to know that their company is doing good things outside of work, and they want to be proud of where they work. You can do this through charity events, sponsorships, and volunteer opportunities. It will help employees feel more connected to their company culture and make them proud to work for you.
5. Promote Teamwork and Collaboration
The fifth step in creating a solid company culture is promoting teamwork and collaboration. Employees should be encouraged to work together and help each other out. You can do this through team-building exercises, cross-departmental projects, and social events. It will help employees feel more connected to each other and make them more productive.
6. Recognize and Reward Employees
The sixth step is recognizing and rewarding employees. You can do this through things like gift cards, paid time off, or even a simple thank you note. It will help employees feel appreciated for their work and make them more likely to stay with your company long-term.
7. Be Open and Honest with your Employees
The seventh step is to be open and honest with your employees. It would help if you let them know what's going on at the company and encourage feedback from them. This will help employees feel like they're part of a team, which is essential for building a solid culture.
8. Maintain Good Relationships with your Employees
The eighth step is maintaining good relationships with your employees. You should treat them like family, not just employees. As a result, they will feel more connected and engaged with the company culture, which is essential for building a strong one.
Creating a strong company culture is essential for retaining employees and increasing productivity. By understanding what employees want and making your company culture visible, you can create a culture that resonates with your employees and helps your business succeed.
Let Us Help You
At Buchanan Tech, we understand how hard it is to create a strong company culture. That's why we're here to help you with all of your employee retention and productivity needs. If you're interested in learning more about company culture or retention audits, please contact us for a free consultation. We would be happy to help.