According to Investopedia, corporate culture can be defined as follows:
“The beliefs and behaviours that determine how a company’s employees and management interact and handle outside business transactions”
An excellent, objective definition indeed however, those involved in business practice (especially from a management perspective) have noted a slight shift in the importance and definition of corporate culture.
Our updated view on corporate culture is thus:
“The beliefs and behaviours within an organisation that determines the attitudes of internal stakeholders and how this influences external stakeholders.”
Today we analyse the best practices for developing a solid corporate culture in your organisation.
Decide On Your Values
Corporate culture is affected by the values of your firm. If employee development is a priority, then the installation of training regimes would be a priority. If a work-life balance is something you want for your employees, initiate stay at-home days where staff has a chance to work remotely once a month. All of these ideas and concepts stem from one thing.
What does your firm see as important?
We suggest a brainstorming session with the executive team of your firm to discuss what can be done to instill a unique culture while at the same time, asking different departments what they would like to have. Insight into what the team wants is crucial as every business function has its own unique requirements.
Be Intentional
Much like a business function, corporate culture requires its own focus and structure. Setting up strategies, planning events, and instilling regulations throughout the day-to-day actions in the firm are essential. After careful planning and decision-making, these processes can be implemented. The priority in this instance is focusing on the people in place of the process. It’s easy to get caught up in the functions, strategies, and plans but the impact that these have on staff should be monitored. Ask questions, dissect input, and apply the solution. The ultimate solution to corporate culture is handling the circumstances as they arise. Being flexible is key.
Market Your Corporate Culture
There’s a valid reason why Google is one of the highest sought-after firms to work at. Their forward-thinking culture is attractive in its own right, but the fact that their employees voluntarily share their experiences working for the tech giant is a valuable asset to the firm. The values of your firm can be communicated in this way. When deciding that you aim to focus on employee well-being, people should know about it. Encourage employees to be honest about their experiences and share your social events on social media. External stakeholders will assuredly be taking note of this.
Why Go Through the Trouble?
Corporate culture is a driving force behind the crucial corporate practice.
These include:
Above all, developing the staff and employees in your firm leads to a fervent sustainable business practice.
