In the fiercely competitive world of business, attracting and retaining top talent has become a strategic imperative for companies looking to thrive and grow.
Company culture can be defined as the personality of a company. It encompasses how people within an organisation interact with each other and work together, and includes a variety of components, such as company mission, ethics, values, work environment and expectations.
Corporate culture can be a huge selling point to potential candidates, and a key part of your Employee Value Proposition (EVP). It can help you attract talent and persuade candidates to choose you over another employer. Aside from attraction, a positive, visible, and embedded culture which is embraced at all levels in the organisation can improve retention too; employees that feel part of a company’s culture and aligned with its values are more likely to feel satisfied and motivated in their work, and want to stay.
For example, Dangote Group said, “Our Cultural Pillar is the foundation upon which our organisational ethos is built. Through this pillar, we ensure that sustainability is embedded in our corporate culture. For us, the Cultural Pillar is an embodiment of ethical business, professionalism, brand loyalty, employee empowerment, mutual respect, inclusion, equal opportunities, and shared value.
“We strive to ensure that every member of staff across every hierarchy and every operational segment function in tandem with these guiding principles. We are committed to a workplace that is inclusive and accommodates the culture of all stakeholders without bias, stereotyping, or discrimination.
“We encourage and reward teamwork, integrity and meritocracy in our workplace. We seek to embody our core values in the way we do business, including respect for cultural diversity in our internal and external engagements, and giving back to the societies in which we operate.
“We are committed to building a workforce of sustainability champions, and positive environmental and socioeconomic impact enthusiasts. We aspire to create a work environment where sustainability is a way of life. We believe that our employees are the driving force of our strategy and our Human Assets Policies are based on the belief that the success of our organisation is directly linked to the quality of our human capital and the success of the individual staff members.”
Tips To Improve Company Culture
Create Opportunities For Employees To Connect: Even in a remote work environment, employees need to be able to communicate and connect with one another outside of just work. Creating opportunities for employees to connect develops trust, improves the company culture and increases employee retention.
Help Employees Advance Their Careers: While celebrating employees and giving feedback is important, be sure to supplement positive recognition with opportunities for meaningful career advancement. The most common reason employees leave a company is for new career opportunities, according to Work Institute’s 2021 retention report.
Make Transparency A Priority: Employee satisfaction is greatly affected by the ability to trust senior management. Build trust with employees and cultivate a reputation as a trustworthy employer by increasing transparency across the company. Prioritise top-down communication by keeping employees informed about the business through company-wide emails and timely updates during town hall meetings.
Create An Employee Recognition Program: Employees who hardly receive recognition throughout the year from someone in a leadership position are 74 per cent less likely to remain at their company the next year.
Give Employees Flexibility: As employees balance working from home and their life responsibilities, flexible schedules and open vacation policies have become necessities in creating a culture that keeps employees engaged. This leads to higher levels of employee engagement, which positively impact productivity and profitability.
Prioritise Timely And Respectful Feedback: Employees crave constructive feedback, and simply implementing annual reviews is not making feedback a priority. Additionally, ask for feedback from employees more often. If you launch a new initiative or implement new software, ask your team for their thoughts shortly thereafter. Doing so will ensure that the decisions you make are benefitting your company culture and will make employees feel valued by their employer.
