A positive corporate culture does more than keep management happy and demonstrate success to shareholders and investors – it also helps to retain the employees who make the organization successful. The 2016 Deloitte Millennials Survey said employees that stay within their organizations for at least five years are more likely to report a positive culture than others . It’s important to pay attention to employee turnover, as the average cost of a lost employee is approximately 38 percent of the employee’s annual salary . By building a better corporate culture, you can keep the top talent and experience within your organization.
A strong business culture is established upon a foundation of shared priorities. One way management can show that the concerns and priorities of the staff are important to them is by watching their pronouns. Rather than referring to employees as “them” and “they,” management can use inclusive pronouns such as “we” and “us.” Managers should also listen to employee conversations. When the staff members refer to themselves as a part of the organization, this indicates that the corporate culture is strong. An inclusive vocabulary allows for the development of shared priorities at all levels.
Successful business cultures also include listening. “When leaders share ideas and updates with their employees, open communication becomes second nature, and everyone feels equally invested in the company’s overall goals .” All management, from the lowest-level manager to the CEO, must spend time listening to the concerns of employees. Once concerns are heard, this gives the management the opportunity to present a thoughtful solution to the problem. Problems can be solved through respectful discussions and regular feedback to ensure that solutions are working for everyone. When ideas are heard and considered, everyone on the team will feel valued and more satisfied with their work.
Develop Bonding Opportunities
When your employees feel like they belong at your company, they will want to stay. Bonding activities as simple as walking meetings provide your staff with something to look forward to. Bigger events such as office potlucks and charity collections allow everyone to come together for a common cause. Even competitive contests can be fun, such as a contest for the best holiday decorations or the most over-the-top Christmas sweater. Bonding can also be done through shared activities. Consider having an employee volunteer day in which everyone in your organization works for a charity such as the local food bank or cleaning up a school playground or park. These simple activities allow employees, managers and leaders to come together and appreciate each person’s unique set of skills. Every person’s contribution has an exponentially positive effect on the whole organization.