This might sound like a lot of psychological jargon, but trust us, it matters.
If you were to ask yourself, what is my company’s purpose? Would you have a clear answer?
The statistics on this topic are frightening.
“¼ employees are either indifferent or don’t know much about their company’s mission.” – OfficeVibe.
This is a wake up call for most companies who claim to have implemented company culture in every act.
Alas, transitioning the remote company culture back into the office can be done. There might be some awkward meetings and conversations about what vaccine you got, swapping quarantine stories, the usual.
Here at Culture Works, we practice what we preach. We hire a person for who they are as a whole, not the list of accomplishments on their resume, and we encourage you to do the same.
What we’ve discovered is that when culture works, a company’s internal systems support a motivated workforce and overall success. The core of your company’s culture begins with the recruiting and hiring process.
Email and messaging apps are a great start to communicating. Integrating regular video conferences allows team members the space to nurture their relationships. Additionally, hold regular one on ones. Communicate consistently, maintain transparency, and gauge stress levels.
The importance of company culture is not always explicitly stated. Some believe that the importance of corporate culture can only be stated anecdotally. However, there is plenty of evidence in support of companies investing in bettering their culture.
In a study performed by Harvard Business School Professor, John Kotter, he concluded that “organizations with rich, healthy cultures achieved net income growth of 756%, versus a mere one percent for those with less-defined cultures.” Watson Wyatt also performed research to develop the Human Capital Index and found that companies with superior scores of five key people practices had a 30% higher market value than other organizations.
Integrating purpose into your workplace attributes to a better company culture with employees who are engaged and excited about work.
Are you preparing your business for a merger or acquisition? While it is essential to get your financials and your business plan in order, it is also important to ensure your company culture is optimized. According to the study “Corporate Culture: Evidence from the Field” 91% of executives said they believed improving company culture would increase their company’s valuation. Here’s why.
SDBJ’s Best Places to Work nominees were published in the September 6th issue.
Whether you’re on the list or not, you can actually be one of the best places to work. It takes more than just a ping pong table in the common area and food truck Fridays. While those may be fun added perks for your employees, the real way to become one of the best companies to work for is to start from the ground up.
When you think about profitability and productivity there’s a “p” word you may have overlooked… purpose.
Consider your favorite brands. Why are you loyal to them? Take Airbnb for example, their mission is to “help create a world where you can belong anywhere and where people can live in a place, instead of just traveling to it.” They have lived this mission by implementing purpose-centered programs to donate to nonprofits that help people who have been affected by disasters, conflict, or critical illness. As a host, you can choose to donate a portion of your profits, and as a company, Airbnb has donated over $20 million to help those in need of housing.
Determining the purpose of your business is one of the most important things you can do. Your company’s purpose should inform the decisions you make to move your organization forward. Developing a purpose can be challenging, and acting on that purpose proves even more difficult. How can you turn your company’s purpose into strategy?