Important information regarding cookies
Why Building a Company Culture Could Revolutionise Your Business in 2018
Once an afterthought, building and maintaining a strong company culture has become an increasingly important concern for most of the world’s top companies. Innovative global businesses are placing their employees at the core of their evolution, working together to create a successful culture which aims to benefit both individuals and the company.
By making the development of a great company culture one of your priorities this year, you’ll increase employee satisfaction, reduce job turnover and, ultimately, benefit your balance sheet in the long-term. In the following article, we’ll explain the elements that make up a great organisational culture and show how these changes could make the difference for your company in 2018.
What is a Company Culture?
Your company culture is essentially a set of values that determine what you do (and how you do it) on a daily basis. It takes in everything from employee progression models to email policies to how you deal with your local community. When attempting to get to the heart of your own culture, it’s important to remember that every business is different, and that means their culture will be different too. There’s no point attempting to totally replicate the culture of another successful business, you need to create one that is unique to your own company.
The Benefits of a Great Company Culture
- Increased Employee Satisfaction
- Improved Performance
- Reduced Stress
- Less Turnover
- Increased Loyalty
How to Find Your Culture
If you want to identify your company culture, the best way to do this is to go right to the source. Start by interviewing a selection of employees (from all levels of the business) and find out their honest view of the company – what it’s doing right and what it’s doing wrong. Do they feel motivated? Do they feel they have access to the tools they need to develop their own career? How is their work/life balance? By asking these kinds of questions you’ll be able to get a clear picture of your company culture as it currently is – and have a roadmap towards where it needs to be. Once you’ve compiled the results, you’ll have a much clearer picture of what’s working and what’s not. Then you can begin to shape your culture for the better.
Defining Your Culture
Once you’ve determined the set of values that will guide your culture going forward, it’s important that you put them in writing. Employees at every level should be made aware of your values and should have easy access to them at all times. Remember, these values will govern how anyone involved in the business (including yourself) will conduct themselves, so it’s vital that they are available to and understood by all. So, publicise them! Making the announcement of a new set of cultural values can be an inspiring and motivational event for employees. It lets them know you’re listening to them and taking concrete steps to improve their job satisfaction.
Developing and Growing Your Culture
Now that your culture is in place, it’s down to you to ensure that it’s a success and evolves over time. Make sure to promote your new company values across all levels of the business. And as the adoption process continues, listen to your employees and make sure that they feel their thoughts and concerns are valued. You should include a section on cultural values when interviewing new employees – and during the induction process. When it comes to company culture, you have to think long term. Take your time, iterate and experiment, and you’ll see that a great company culture can pay dividends for almost every aspect of your business.
Looking to Grow Your Business in 2018?
If you need advice on your business, for 2018 and beyond, AIB is here to help. Make an appointment to speak an AIB Business Customer Advisor today.
Please be aware that all of the views expressed in this Blog are purely the personal views of the authors and commentators (including those working for AIB as members of the AIB website team or in any other capacity) and are based on their personal experiences and knowledge at the time of writing.
Some of the links above bring you to external websites. Your use of an external website is subject to the terms of that site.
Allied Irish Banks, p.l.c. is regulated by the Central Bank of Ireland. Copyright Allied Irish Banks, p.l.c. 1995.