What does having a “company culture” mean, why is it important, and how does it affect your bottom line?
Company culture is a set of shared values, goals, attitudes, and practices that characterize an organization.
Company culture is also how people feel about their work, their company, and how their personal goals tie into the company goals.
A great example of a company with a solid corporate culture is Nike. They are a great example of practicing what you preach. ‘Just Do It' isn't just their slogan; the employees at Nike live by it. Living by the motto encourages employees to push themselves and go all out personally and professionally.
Another example of a company with a strong culture is Google. Google is known for being one of the first companies to transform the traditional work culture and convert it into a buzzing company culture. They offer meal plans, employee engagement trips, games, parties, gyms, a dog-friendly environment, laundry services, and more to Googlers. What separates Google from other companies is that it doesn't just build an office; it focuses on creating an office with a distinctive organizational culture.
Creating a positive company culture
Strengthening your company culture and creating a positive work environment is something that takes time to happen. You need a plan and a commitment it. Here are some tips to get you started.
Decide what your ideal culture looks like
The first step in building a healthy company culture is to define what that looks like for your company. The underlying theme here should be that the culture should reflect the company values but be compatible with your team members' values.
Involving your employees in the process will build trust and become a foundation for your culture. Ask for opinions on the ideal company culture and allow employees to respond anonymously.
Recognize employee achievements
A key component of employee engagement is ensuring employees feel they matter to their employer. Employees who feel their contributions are unappreciated will start doing only the minimum (a phenomenon recently coined “quiet quitting.”)
Encourage work-life balance
Employees caring for their physical, mental, and spiritual health will be more effective and productive. Employees should not have to work 80-100 hours per week and give up their personal life to achieve career success. Encourage employees to take all their allotted vacation days and make them aware of the benefits available to them to support their well-being.
The role of benefits in employee culture
When we talk about “benefits” that affect culture, we mean more than ping pong tables and an on-staff masseuse – while those certainly can affect a company's culture, they fall into the “perks” category. While perks are fun and can make your employees feel valued, they are not a suitable replacement for benefits that help employees live a stable life long-term.
Employee benefits are a great way to keep employees engaged and satisfied. As an employer, you need to provide meaningful employee benefits.
The right benefits help your employees reduce stress, live better lives, and create a better culture. Some examples of those benefits include health and wellness plans, commuter benefits, meal plan benefits, on-demand pay, and micromobility plans.
Building a solid company culture takes time to happen. It takes deliberate thought and planning to create an environment that will help you attract, retain, and engage with top talent in this competitive job market. Edenred can help you leverage your benefits to ensure they work for you – and your employees. Schedule a meeting with us today to get started.