With millennials going into the workspace and Gen Zs getting ready for the adult world, companies will have to adjust their way of doing things to attract these young individuals.
With countless businesses out there, it has become relatively easy for employees to move from one company to another. This means that you need your employees to have a reason to stay, and company culture is
definitely that reason, as it is a vital step to ensuring that your employee turnover doesn’t skyrocket!
With that said, here are the five key elements that make up a great company culture:
1. Core values
A company's values are the core beliefs upon which a company bases its behaviour. When clients and employees understand what your company’s values are, they are able to make an informed decision when it comes to being associated with your brand or not.
A company’s core values need to align with its
actual business goals and practices. To say that your business values growth and equality is meaningless unless your business
actually focuses on these things. Ensuring that your core values are authentic will allow you to attract the
right people to your organisation.
King Price has placed its company values throughout its entire company against the wall, ensuring that its employees and clients are well aware of what the brand believes in.
One of its core values includes ‘
courageous freedom’, which means that its employees are able to make their own decisions — and encouraged to do so. If an employee needs a break, they are more than welcome to go and engage with the entertainment (such as the silent music band or the ping pong table ) available to them — they don’t have to tell their manager, they can just go ahead and take a break.
2. Appreciation
Employees don’t
want to be appreciated, they
need to be appreciated and celebrated. “
21.5% of workers who don’t feel recognised for doing great work have interviewed for a job in the past three months versus 12.4% who do feel recognised,” says Valeria Bolden-Barret in an article for HRDive.
Additionally, a study done by Global Studies reveals that 79% of people who quit their jobs cite ‘lack of appreciation’ as their reason for leaving. And, Leigh Branham, author of
The 7 Hidden Reasons Employees Leave, revealed that “89% of bosses believe employees quit because they want more money.”
These stats tell us that employees don’t care as much about the money as they do about being cared for. The proof is in the pudding.
One company that celebrates its employees
really well is
Clockwork Media; it has all of its employees on its website. During Women’s Month in August, it celebrated all its female employees in managerial positions. This makes its employees feel valued and heard, which is vital for great company culture.
3. Narrative
Having a company origin story and talking about where it all began allows employees to understand the company’s journey and growth. It talks about the hardship and obstacles faced, and then, the success story. Having that background to look back on will allow an employee to feel that they belong and are part of the brand’s journey.
King Price Insurance has an entire wall dedicated to its success story. It consists of some of the company’s first logos, cheques that the CEO promised his investors and an award the brand won at the
Loeries. All of this helps build a strong company culture because employees are proud to tell the story of where the company they work for started.
4. Connection
There is nothing scarier than having to walk into the boss's office, with the boss being the only person occupying it. Building up the courage to go speak to your boss should never be something any employee should have to deal with.
It is important for employees to feel that they can connect with their managers or CEOs. The CEO of The Academic Institute of Excellence,
Leon Smalberger, sits between his employees, making them aware that he is always there to discuss anything. The same counts for the clients at AIE.
Employees will have a changed attitude knowing that their CEO sits between them and is just like any other human being. Making employees feel more confident in sharing thoughts and ideas that they have is vital to success. This is a way of making sure communication will happen freely and not be forced during a meeting.
Caption: Don’t be this boss!
5. Consistency
Being consistent is a sure-fire way of achieving a great company culture. This is because people grow attached to traditions and look forward to them. At King Price, the employees get free slush puppies and popcorn on Wednesdays and Fridays. This means that if an employee has had a rough week, they can at least look forward to the tradition of getting treats on these days.
The company also gives all its new employees a t-shirt that says ‘#Hero in training’, which makes everyone feel valued and included. This is a tradition that King Price Insurance ensures people are aware of, making current employees excited for the ‘newbies’ to put on their #Hero t-shirt.
Do you think more companies need to focus on creating a great company culture? Let us know in the comments section below.
*Image courtesy of Pexels