How can a CEO build a thriving corporate culture?
Corporate culture isn't something that is spelled out in a document, but it influences everything an organization does. It affects everything from employee retention to your bottom line.
According to Deloitte, 94% of executives and 88% of employees believe it could make or break a business, but only 12% of executives think their organizations are driving the right culture. You can improve your current culture and here are some tips to get you started that QVALON‘ analytics has identified across different industries and different geos:
Create a foundation. After identifying your type of corporate culture, you need to make sure you mention how it's like during interviews. Make time to explain your company's mission as well as how they behave both on and off the job.
Practice what you preach. Find out how you can strengthen your corporate culture. Create engaging activities for people to participate in, like team building or fun quiz nights during Friday. Work-related events can be planned as well, such as brainstorming lunches.
Pay attention to details. You need to give your employees a sense of value. Reward their loyalty and good work. For instance, offer generous compensation when it's due. Encourage them to take action by being open to new ideas. Also, observe how your employees are and help them in any way you can.
Don't resist change. Your company's mission statement should remain clear, but try to be flexible. As you grow, more and more people will become a part of the team, so be more open to change so long as you don't lose sight of the bigger picture.
The healthy culture contributes to corporate stability and good performance.This one might inspire you if you are looking for an example of modern company culture:
Shopify, one of the world's leading online store builders, has a robust core value system and a great corporate culture. They even have an internal praise tool called UNICORN to give kudos (and cash incentives) for any good deed, big or small.
Unfortunately, not all companies can create a tool that can help them build a positive corporate culture in a snap of their fingers—but that doesn't mean you shouldn't have one. QVALON management software makes a good starting point for your small business or start-up. It comes with collaboration and task management tools to monitor performance, provide feedback, and even give praises.