Whether you know it or not, your company has a culture. When fostered in a positive manner, your company’s culture can be one of its most valuable assets. A company culture left unguided, however, can lead to stagnation, employee frustration and an unpleasant work environment. Here are a few of the reasons why your company’s culture is so important for its growth.
Getting the Most Out of Workers
Companies depend on their workers to succeed, and business growth typically demands asking for more from your employees. Too often, managers and owners focus on productivity metrics and employee evaluations to find and retain the best talent but lose sight of the bigger picture. A positive work environment boosts all workers, leading to a increased productivity across all aspects of your business. Furthermore, a positive culture and environment helps you retain your employees, ensuring that your most valuable assets stick around. In general, employee loyalty isn’t as strong as it was decades ago, but companies that build a strong and productive culture can see less turnover than their competitors.
When thinking about branding, many people think about logos, mottos and design elements. However, a brand goes much further, and a company’s culture plays a key role in developing effective branding. Business growth depends on standing out from the crowd, and your company’s culture will shine through when your employees interact with the public. This interplay can go both ways; when it comes time for a new logo or other branding element, consider incorporating elements of your company’s culture into it. Doing so helps reinforce your company culture with the public.
A Guiding Light
There will be times when people involved in your company seem lost. The business world is difficult to navigate, and it’s easy to run into moral, financial and cultural dilemmas during the course of normal business. A strong company culture gives you a beacon of light to help guide your decisions, and a well-established culture can make challenging decisions much easier to make. Furthermore, your culture can make future growth goals easier to understand; if your business focuses on empowering employees to do more without strong oversight, you can focus on ways to grow by leveraging the power of lower-level employees.
Too often, businesses are portrayed as cold and calculating entities concerned with nothing more than the bottom line. In reality, businesses are thriving, vibrant collections of people, and they develop strong cultures over time. Your culture can help your business develop its culture organically, but make sure to guide it in a positive manner. Persistence can lead to a culture that sticks, empowering employees and making the office a pleasant place to spend time.
David Milberg is a financial analyst in New York.