Today’s companies are constantly working on attracting and retaining talent. They offer signing bonuses, promotions, flexible work schedules, on-site fitness centers, and more. While these are all things that employees want, they may not be what keeps employees at a company long term. So, what is the secret to creating loyal employees? Culture.
What is Company Culture?
In essence, a company’s culture is its personality so to speak. Culture encompasses a shared set of beliefs, values, and behaviors that shape the organization’s business. For example, at Create Spaces we value Trust, Respect, the Pursuit of Excellence, and strive to Make A Difference for clients and coworkers. Values like this shape how you do business, structure your benefits and even design your workplace. (For more on culture, read: Space & Culture with Steelcase’s Dr. Tracy Brower)
Here are some key elements that contribute to a company’s culture:
- Values: These are the core principles that guide the company’s actions and decision-making.
- Beliefs: These are the shared assumptions and understandings held by employees like honesty and hard work.
- Behaviors: These are the ways employees typically act and interact with each other. This could look like friendly competition where employees push each other to be their best.
- Norms: These are the unwritten rules that govern behavior within the organization. This could look like showing up on time or prioritizing kindness.
- Symbols: These are the objects, images, or rituals that represent the company’s culture. At Create Spaces we love the outdoors so you will see imagery of the local wildernesses around our offices. Using symbols is a great way to lean into what makes you unique.
While these are all factors that embody a company’s culture, we are going to focus on the values and behaviors.
How Behaviors Reflect What You Company Values
Some companies may value making money above all else. Employees are simply cogs in a machine running to pump cash into investor’s pockets. These kinds of workplaces typically have a high turnover because employees don’t feel valued or supported.
Other companies value creating an excellent product, but not at the expense of their employees. Rather, their focus is on succeeding as a whole organization, investors, and employees alike. In this company, leadership wants to help employees improve their lives professionally and personally.
While a company must make money to stay in business, the behaviors they encourage in the workplace will reflect what they value most.
How Cultivate A Positive Company Culture Leads To Retaining Talent
We touched on it earlier, but when an employee does not feel valued or supported, they are far less likely to stay with a company. That means that while pay may entice someone to remain with a job, the people, and ultimately the culture will determine if they stay long term.
A lot of this comes down to hiring decisions. Hiring that follows a company’s values will often lead to creating teams that are cohesive and enjoy working together. That may mean having similar interests, drives, and even behaviors. Being selective in the attitude of the person you hire can have huge benefits on your culture. Culture is embodied in its people, so hire people who contribute to your ideal culture.
Often employees will stay at a company because they have built relationships that they don’t want to leave behind. Loyalty to a company arises when leadership makes employees feel valued, understood, and supported. This can look like:
- Prioritizing regular, weekly check-ins between employees and their managers.
- An open-door policy where employees can physically see leaders working alongside them and feel comfortable having casual conversations.
- Leaders can take an eager interest in what employees are interested in outside of work and support those interests.
- Hosting customer appreciation events and inviting employee’s families to join.
- Communicating kindly but honestly when discussing hard topics.
- Offering flexibility for employees who need it or generally working with employees to help them work at their best.
- Offering opportunities for employees to improve their skills and earn promotions.
- Compensating employees well so they don’t look elsewhere.
The more companies can bring the human element into the workplace with a listening ear and empathy, the better they will be at retaining talent. Organizations are constantly working to build trust with their clients, but it has to start with employees. Create a culture where employees are valued, and watch earnings go up because when everyone is working in the same direction, you can’t help but succeed.
For similar content, read Work-Life Balance: A Myth or Reality?
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