Before going straight into the tips and tactics for fostering a strong culture within your company— it’s ultimately most important to explain why doing so is imperative to building a successful company.
While providing a “safe and satisfactory” environment may be enough for some, as the job market changes and the climate of our own industry adjusts to it— it’s growing increasingly important that organizations not only think about their employees, but think about what makes them happy.
To some this will sound superfluous because it doesn’t have some immediate correlation to your bottom line— and yet it does.
“The strongest cultures bind people together across both hierarchy and geography, guiding them to make the right decisions and advance the business without explicit direction,” explains the Building a Winning Culture Report done by Bain & Company.
In essence this means that a company with a strong sense of its own culture is a more streamlined and efficient company, which often means less dollars spent.
70% of the business owners surveyed in the report agreed that, “culture provides the greatest source of competitive advantage,” which is obvious as the largest segment of the modern workforce; millennials; are staying with companies for a fraction of the time of previous generations. [Read more…]