A revitalizing corporate culture has become the need of today’s competitive environment. It can help companies differentiate themselves from the crowd and draw in the top talent. When you enter into a high performance corporate culture, you can feel the difference. It’s easy to gauge the motivation of employees, who are putting earnest efforts as a team to get things done on time.
The productive corporate culture is not just about offshore parties and team outings. It’s the way a company shapes its overall strategy and workflow to achieve desired results. A company can have its growth strategy in place, but the execution may seem tricky when the organizational culture doesn’t catapult positive outcomes.
Corporate strategy or organizational culture – Which is more important?
Well, “culture eats strategy for breakfast.” This phrase was originated by the famous management guru Peter Drucker. Later, Mark Fields, President at Ford, emphasized the direct correlation between a company’s bottom line and its productive culture.
If you keep the culture of success and your corporate strategies apart, then you are likely to fail as an entrepreneur. Strategy, capability and corporate culture need to go hand in hand to enable differentiation and execution.
Unfortunately, the cultural change is often forgotten, while corporate leaders are busy devising short-term strategies for immediate results. If you do not consider human resource management strategy, capabilities and culture as a combined entity, you are likely to fail in meeting the target for overall productivity, efficiency and sustainability.
It’s never too late to revamp and follow these simple steps for building a productive company culture.
#1 Define Shared Values & Standards
For a corporate culture to be tangible, it’s important that every employee is on the same page in terms of the organizational vision and values. From the CEO down to an intern who has recently onboarded, every one needs to be acquainted with the company values, principle and its common set of standards.
Having an open-meeting policy can help. For any issue within an organization, which doesn’t involve the personal details of employees, there can be an open-house discussion. This can help employees have a clear picture about the policies and principles of a company.
#2 Encourage Open Communication
As a leader, you must always communicate your values explicitly to your employees and stakeholders. With the smooth flow of information across silos, employees can work as a team and contribute to a productive work culture. There can be open and unbiased interaction sessions, where employees can give their crucial inputs and help the management in making right decisions.
#3 Stay Committed to Employee Growth
A company’s capabilities are largely decided by its employees who churn out high profit margins by employing their skills and making the right use of tools of the trade. Unfortunately, there has been a surge in the attrition rate in the recent years. It doesn’t take a much higher bid to lose an employee in a competitive talent marketplace. Employees often feel detached from a job profile because of the lack of improvement and growth chances.
If you want to utilize your capabilities to the fullest, you need to take some serious steps towards ensuring the career growth of your employees. A thriving work culture is important to keep employees hooked to an organization while advancing their career concurrently. A tailored course of development and advancement for every employee can help in this scenario. Furthermore, with proper mentoring, regular performance review and feedback, you can support your employees’ overall growth and motivate them towards a more stable association with your organization.
#4 Make Performance Management Process Effective
Annual performance reviews are not just a time-consuming affair for employers, but also prove to be an emotional drain for employees. Employees with negative reviews are not given enough chances to improve, and they end up losing their self-esteem.
Rather than making performance review an annual affair, you can integrate it deeply into your day-to-day process. With HRMS (Human Resources Management Software) implementation, you can bring employees and their managers on a common platform where work can be assigned on a regular basis, assignments can be shared online, and performance reviews can be conducted with transparency. Accordingly, development programs can be designed for employees to help them acquire new skills and feel valued within your organization.
#5 Lead by Example
You can shape the culture you always envisioned only by becoming the source of inspiration for your employees. Your conduct as a company leader can have a strong impact in shaping the organizational culture. Try to be the strongest advocate of your corporate values and exemplify incredible passion for what you do.