Company culture is defined as the behavioral characteristics of the company and its employees. It is the result of decisions made within the company over a period of time.
Company culture defines the values, ethics, and beliefs of an organization.
It describes the various attributes like how your company conducts business, how your team communicates and operates, and many more.
It is often referred to as corporate culture, organizational culture, and workplace culture.
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Importance of a Good Company Culture
The values of a company, its environment, and leadership are affected even in the absence of a good company culture.
High-performance companies like Netflix give utmost importance to company culture. This is done to ensure that their teams are always productive and feel appreciated for their efforts.
An organization's role in developing the culture is not only limited to the management or making business decisions, but also to the team growth and development of processes that support overall growth.
But, in other instances, when companies do not develop a culture, managers, advisors, and executives also do not develop the necessary mindset as well.
Here is why good company culture is important.
1. Makes business profitable
A company with good workplace culture has a higher chance of creating a profitable business and overpowering its competitors.
That being said, when employees aspire to achieve the same goals and share the same values as the company they work for, they are more productive and energetic about their responsibilities.
2. Improves employee retention rate
When you establish a great company environment, your team members are likely to feel more comfortable and happier working with you.
It also helps you achieve a high employee retention rate, thereby decreasing your hiring costs and time.
3. Strengthens decision making
Companies need to recognize that work culture affects their decisions, especially if they happen to follow one aspect of their environment.
4. Gives access to better talent pool
Your startup or business will have a better opportunity to attract top talents who share the same values and vision as yours.
When your company is backed up by positive company culture, your employees become your advocates. They are eager to promote and share their company’s culture with people whenever possible.
Under the leadership of Satya Nadella, Microsoft has replaced the culture of proving with a culture of improvement.
They have encouraged continuous learning which led to many positive transformations within the Microsoft Corporation. This led to business growth of over 650%.
How to Build a Great Organizational Culture?
Good company culture, which is unique to each organization, helps you build a successful business.
The Fortune 500 companies are said to have the best practices in workplace cultures.
Let’s look at some key qualities that a company should focus on to have a great workplace culture.
1. Integrity among teams
It is the key to success in any business. Every team in the organization should be able to rely on each other to make data-driven decisions and achieve desired results.
Being honest and transparent to each other is important and makes it easy to work productively in a fast-paced environment.
2. Employee appreciation
Employees need to be appreciated from time to time so that they are always motivated to work towards the company’s success.
It can be a note of thanks or a hike in the salary or even a promotion.
3. Team Alignment
It is important that team members share the same vision, work towards organizational goals, and understand how their contributions make a difference to the company.
In an aligned team, people work together in such a way that increases their engagement as well as collaboration levels.
4. Innovation
A culture of innovation certainly lets your employees apply creative thinking in every aspect of the business.
As a result, this helps your organization make the best use of the technologies and resources you have.
Companies with Great Workplace Cultures
There are some companies that stand out when it comes to creating unique work cultures. Here are a few of them:
Google: The tech giant has established whole new standards for creative workplaces. Google offers its employees perks like free meals, transportation, on-site gyms, and daycare services.
They even have sleep pods for employees who want to take a power nap. How cool is that?
Because of these benefits and great work culture practices, Google attracts top talents from all over the world to build innovative software solutions.
Twitter: This social media platform is another company that has been through swift expansion, which could have led to major issues in maintaining a consistent organizational culture across the world.
However, Twitter managed to attract like-minded people who are team players and deeply motivated to scale up the company.
In April 2022, Twitter is acquired by Elon Musk, CEO of Tesla, for whopping amount of $44 billion dollars and sources state that he wants to make Twitter a free speech platform.
Adobe: This software development company keeps employee empowerment at the top of its priority list, and prefers to think of managers as teachers rather than bosses.
Adobe encourages experimenting regardless of the results and aspires to achieve employee autonomy at all levels of the business.
In Conclusion
No matter the size of your company, it is always important to build a good company culture.
Workplace culture helps you build a successful business and sustain it even in the hardest of times.
We, at The Clueless Company, always strive for a good workplace culture for all our employees.
We strongly believe in “people first culture” and therefore, do our best to implement the same in our organization.
Rather than imposing office hours, our team members work at their own pace and finish their work.
To promote collaborative startup culture, we encourage creative thinking and engage them in discussions so that they can expand their perspectives.