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Category: company culture

The Power of Culture in the Workplace

Filed under: company culture, Job Market, Job Statistics, Professional Development, Work-Life Balance

Corporate culture is a concept at the forefront of the employment marketplace—professionals want to feel valued as individuals, not just for their professional contributions.

In order to ensure a fulfilled and productive workforce, employers should build a strong culture to enhance employee morale; this translates to defining the organization’s mission and core values, as well as creating a sense of community amongst employees through professional and personal development.

Our 2018 Market Insights Report shows the impact culture has on professionals from the moment they consider a position through the lifecycle of employment.

1. The Offer: Our study shows that following compensation, corporate culture and work-life balance are the most important factors to consider in a job offer. And while respondents agree that salary is the most significant determinant in accepting an offer, nearly half (40%) of jobseekers would take a position that did not meet their financial expectations but with a company that promotes culture and professional development.

2. Engagement: In this candidate-driven market—the U.S. unemployment rate is below 4%, the lowest in 18 years—hiring quality professionals is only the beginning. In addition to attracting talent, companies must keep their workforce engaged. Our study shows that while people value the financial and tangible aspects of employment—compensation, insurance, 401(k)—they equally value professional growth and fulfillment.

3. Job Satisfaction: We can assume that, to jobseekers and tenured employees alike, culture may not be regarded as the most important aspect of a job, but it is certainly an unequivocal determinant. 93% of all respondents agree that it is important to have a sense of belonging and shared values with their organization. Our results show there is strong correlation between culture and job satisfaction:

    • of the professionals who claimed they fit in ‘very well’ with their culture, 77% were satisfied at their job;
    • of the respondents who fit in ‘somewhat,’ 62% were satisfied;
    • and of the people who didn’t fit in, only 33% were happy in their roles.

4. Retention: As challenging as it is to attract talented professionals, retention is equally as essential. In today’s competitive marketplace companies must invest in retaining top talent, as turnover is not only costly but impacts morale and employee engagement. Culture is a key factor in employee retention—of the people we surveyed who were planning a job change within the next year, only half (50%) noted a positive company culture, compared to the professionals who weren’t planning a job change, of which 90% reported alignment with company culture.

Our study concludes that positive company culture vastly benefits both employers and employees—your external brand is only as strong as your internal culture. In order to perform well employees need to feel appreciated, engaged, and aligned with their company’s mission and core values.

It’s crucial for companies to build and enhance culture for the well-being and productivity of their workforce, as clients will never love a company until the employees love it first. Ultimately, business improves along with employee morale: low turnover, as well as increased motivation, translates to positive results.

 

Stay tuned for more insights where we will reveal steps employers can take to successfully implement a positive company culture and productive work environment.

Want Your Best Employees to Never Leave You? Give Them the 7 Things They Need the Most

Filed under: company culture, Leadership, teams

In the quest to crack the code on employee engagement, companies spend hundreds of thousands of dollars each year on wasted efforts to “develop their leaders.”

Since leadership development is broad, it needs to be clearly defined for business outcomes. The common denominator is teaching managers the fine art of people skills. After all, leading an organization is still mostly about people — its most important asset. Without mastering people skills, you simply cannot be a good leader.

But to do that, managers must have a basic understanding of human behavior. What science has already found is that positive emotions are at the root of human motivation. We are wired for it in our creation design.

Therefore, managers must acquire the knowledge of what makes people tick and what inspires human beings to perform at a high level.

1. People at work need to feel safe.
This is true especially as they start a new role or job. They need confidence boosters from their leaders. Emotionally intelligent leaders will build them up through encouragement, praise, and positive affirmation. They will show them hope for the future, ask them about their goals and interests, and give them assurance of a career path. Safety is a basic human need and the best employees want to know where they stand — now and in the future. The best leaders give them that hope by speaking to their needs.

2. People at work need compliments.
“I don’t like to be recognized,” said no human being, ever. Managers have to get into the habit of praising and complimenting their people for their good qualities and work. The companies in Gallup’s study with the highest engagement levels use recognition and praise as a powerful motivator to get their commitment. They found that employees who receive it on a regular basis increase their individual productivity, receive higher loyalty and satisfaction scores from customers, and are more likely to stay with their organization. How regular are we talking? Praise should be given once per week, according to Gallup.

Continue reading on Inc. >>

How to Understand a Company’s Culture from the Outside

Filed under: company culture

Imagine you’ve just received a job offer. Congratulations! If you’re like most people, the first question on your mind is, “Wait? How do I know if I’ll like this job?” All you have is an offer letter and a job description with policies and procedures. How can you understand an organization’s culture from the outside? My favorite definition of culture comes from Airbnb’s Brian Chesky: “Culture is simply a shared way of doing something with passion.”

According to MIT culture scholar Edgar Schein, there are three ways to understand culture: 1) Artifacts—which are visible things like what people wear to work; 2) Beliefs and values—which are more invisible, like valuing consensus when making decisions; and 3) Basic underlying assumptions, which are usually unconscious, like a belief that you should hire people like yourself. So how can you find these out?

Click here to read the rest on The Huffington Post >>

Why Culture Matters More Than Goals

Filed under: Career Advice, company culture, Goals, Insights

What’s the culture of your organization? Is it an environment where things get done on time, every time? Or are deadlines more flexible? Do you believe in having fun, or is it more serious?

Every organization has a culture, so does every family. Culture is the, usually, unspoken beliefs about how things work around here.

Peter Drucker famously said, “Culture eats strategy for breakfast.”

Culture is often what enables or prevents an organization from achieving goals.

For example, if an organization sets a goal to increase on time deliveries, but the culture tolerates excuses, it’s unlikely that the team will achieve the goal. The company can provide incentives, and it may drive a short-term spike, but in the end, the culture will ultimately prevail.

Why does this happen?

It’s a case of implicit versus explicit. Most leaders are explicit about goals, they write them down, share them, and measure against them. But when it comes to culture, it’s more implicit. We assume people should just “know” how to behave.

Click here to read the rest on Huffington Post >>