The importance of good corporate culture
Given that we spend the lion’s share of our time at the office, creating an upbeat and positive corporate culture is absolutely crucial to elevating productivity levels and increasing your chance of reaching and even exceeding your organisation’s objectives. “A healthy corporate culture leads to long-term success by both protecting and generating value in the UK economy. It is therefore important to have a consistent and constant focus on culture, rather than wait for a crisis. A strong culture will endure in times of stress and change,” advises Sir Winfried Bischoff, Chairman of the Financial Reporting Council.
Key areas that define business culture
Managers and executives have the responsibility to uphold and embody the core values of a business by leading through example. There should also be boards and mediators that can take action and resolve situatations where leaders do not deliver.
There are authoritative, consultative and participative management styles to consider when evaluating how to best lead and monitor your team’s performance. If you want your employees to respect your judgement without alienating you for failing to acknowledge their role in elevating the success of your business, you should aim to find a balance between a consultative and participative approach. These management styles are more people-focused, taking all stakeholders into consideration. According to figures published in HR Magazine, companies that implemented these strategies increased their revenue by 682 percent, as opposed to only a 166 percent increase by companies that did not exhibit these characteristics.
Policies and philosophies
The policies and philosophies of your business should enable your staff to be committed to helping your organisation achieve its business objectives, ensure that employees feel trusted and supported by their line managers, and encourage camaraderie between employees. An example of these positive qualities can be found in Honda Manufacturing's mission statement, which reads as follows:
‘Respect for the Individual. This calls on each associate to nurture and promote individual differences and to trust their colleagues as equal partners. Honda aims to cultivate these qualities so that people’s differences are respected and trust is developed on an equal basis. A human being is born as a unique individual with the capacity to think, reason and create - and the ability to dream.’
The individuals who make up the bulk of any organisation are perhaps the most important factor to consider. Developing a strong bond with your colleagues fosters team spirit that motivates and drives you and your team to work to the best of your ability, thus enabling you to be a driving force behind the success of any business.
Mission, vision and values
When evaluating the mission, vision and values of your business, you need to focus on the facilitation of positive internal operations, effective strategies that may be implemented for the development of your company, and how to articulately communicate the purpose of your organisation to stakeholders. “At the heart of great workplaces are great values. Values drive the culture that enables employees to thrive. They shape corporate behaviour and influence how seriously the company engages in the community,” says Stephan Howard, Chief Executive of Business in the Community. Ensuring that you keep your staff and customers happy will motivate them to invest time, resources and money into the development and overall success of your business.
An untidy, dangerous or unhygienic workplace is certainly not an ideal environment for optimal performance, not to mention it increases the risk of employees falling ill on a regular basis, costing your company precious time, resources and money. According to PWC research, sick days cost UK businesses a staggering £29 billion per annum. This is just one of many reasons why leaders and managers need to ensure that offices are in tip top shape, adhering to health and safety rules.
Maintaining an open line of communication, whether it be between employer and employee, the organisation and its clients, or the colleagues themselves, will enable any business to flourish. The ripple effect of open communication, or lack thereof, begins at the head of every company. If you, as an executive or manager, make yourself inaccessible to your staff whilst still wanting to micro-manage their every move, you may experience an increase in employee resentment, dwindled motivation to deliver quality performance, slow progression on deliverables, and a consequent decline in revenue.
In short, your company's success is only as good as its culture, so as an employer you must prioritise the facilitation of open internal and external communication, the manifestation of your mission and values to the public and the motivation and productivity of your employees.
Search Consultancy strives to uphold everything that defines a positive and successful corporate culture. If you are looking for a specialist role, whether it be in the HR, Call Centre, Accountancy & Finance, IT, Hospitality or Office Services division, do not hesitate to contact us.