Culture and Values

Culture and Values in a Company are vital to a companies success.

Culture and Values

Corporate culture has arguably always been important, but it’s only become a popular point of discussion in the past 20 years or so. As we begin to uncover the actual cost to acquire talent and recruitment fees; corporate culture is becoming more and more of a hot topic than ever before. The topic has been around, however more companies are making it more of a priority.

 

According to Forbes:

 

The Benefits of Strong Culture

First, there are clear benefits to having a strong, unified company culture underlying your business’s operations:

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    Identity. For starters, culture contributes to the identify and values of your company. For example, if your corporate culture is one that prioritizes setting and meeting goals, your individual workers will be more likely to set and meet goals of their own. It’s a good way to set and maintain the direction of your employees, and without it, it’s hard to keep your company’s values coherent.
  • Retention. A strong company culture attracts better talent and, more importantly, retains that talent. When people feel like they belong to an organization, they’re more likely to stick around for the long term. That means lower turnover, fewer new hires to deal with, and better chemistry among your team.
  • Image. Corporate culture also adds to your brand identity. If you treat your employees well and have a fun-loving corporate atmosphere, your customers will see you as a fun-loving, generous brand. Depending on your target demographics, that could be a major boon for sales and customer loyalty.

 

These are tenets of brand culture you’re likely already familiar with. Culture overall is going to become more important, which means all these dimensions will increase in line with that expansion. Recently Clarity Wave went through their own Brand and Corporate Value assessment which really woke the company up to why it is in the business they are as well how they are positioned and what they value in their people.

 

Trends and Competition

One of the biggest motivating factors is the fact that corporate culture is becoming a more popular consideration and development. More companies are shifting their attention to creating more thorough brand cultures, and preserving them through ongoing development. Why? It’s at least partially due to the fact that culture is talked about more frequently. Studies have indicated measurable increases in turnover for companies with poor or nonexistent culture, and conversationally, culture is mentioned more frequently between entrepreneurs.

 

You might think that this is a bandwagon scenario—that I’m encouraging you to focus on culture more simply because other companies are. But remember, these are the companies you’re competing with, both in terms of hiring new people and in terms of appealing to customers. If you don’t at least keep pace with a strong culture and find a way to differentiate yourself, you’re going to fall behind. 

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