Future Companies Must Focus on Creating a Positive Corporate Culture
The beliefs and behaviors of organizations are not irrelevant anymore. Customers and employees alike are focused on finding organizations that fit their value systems. Corporate culture is serious business in today’s world.
While no organization has lived without an awareness of the organizational culture within its walls, the actual term ‘corporate culture’ wasn’t coined until the early 1980s. By the next decade, it became the key way to describe the essence of a company.
Corporate culture refers to the set of values and behaviors guiding how employees and managers interact in business. It’s often reflected in things like dress code, office setup, turnover, treatment of clients and hiring processes. Furthermore, modern corporate culture examines the wider value systems, such as work environment, management strategies and even the visual symbols the organization uses.
The Components of Good Corporate Culture
Corporate culture has been widely studied, both in terms of organizations with a great corporate culture and the components of a strong corporate culture. According to Kissmetrics, the keys for creating a great company culture are:
- Hiring employees that align with the organization’s culture.
- Ensuring employees are aware of the values, as well as the objectives, of the organization.
- Allowing freedom in decision-making.
- Fostering a culture of being part of a team, instead of a collection of individuals.
Organizations shouldn’t take the above or any other corporate culture element lightly. In the UK, a study showed 78% workers say they wouldn’t want to work in a company with a bad corporate culture, even if the company is at the top of the industry.
Many of the most successful companies have gotten the message. Google is often at the top of the lists when it comes to successful corporate cultures. Other examples include the likes of Zappos, Twitter, Chevron and Adobe.
A Changing Landscape
But today’s corporate culture has to adjust to a changing landscape. The workforce is experiencing a shift in two major ways. First, women are continuing to shatter glass ceilings and questions about maternity leave, equal pay and more women in leadership positions are changing the nature of corporate culture.
The second shift in discussion is provided by the millennials. In an Amplify study, four out of ten 13-25 year-olds said the definition of success is their own happiness. Today’s young person entering the workforce is more likely to work for a purpose instead of a hefty salary. This puts corporate culture at the top of the agenda when creating attractive companies.