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• Susan McKenna • May 24, 2023
Company culture, at its most basic level, is defined as “how things get done” in each unique workplace. The way leadership and workers communicate, treat each other and make decisions not only impacts employee engagement but also the business’s productivity.
Research shows that employees who agree that their organizational culture is positive are more likely to be highly engaged (84 percent) than those who do not agree (22 percent). The same study found that about 60 percent of disengaged employees would leave their company for a better culture.1
Workplaces have experienced a lot of change because of the pandemic. But whether you are back in an office full time, work for a remote-first organization, or some combination of these in a hybrid set-up, good company culture is an overarching driver of success that can’t be ignored.
Although our organization successfully pivoted from on-site to hybrid at the beginning of 2018 and to fully remote with the option for in-office days in early 2020, it’s my belief that none of these changes would have been possible without a positive cultural framework. This framework must be inherent to a company’s business model—its mission and vision—to support any type of organizational structure.
One of the most important places to start when examining company culture is values—the principles that matter most to an organization and its people. They should be at the core of your mission or vision statements. But establishing company values is only part of the equation. To have shared values, the employees must believe in the values adopted by the company.
Another crucial aspect of company culture is establishing clear communication channels to maintain productivity and engagement. Set up regular check-ins with employees and make sure communication channels are open and easily accessible for employees to ask questions or provide feedback.
Supported by a strong foundation in communication is the setting of clear expectations. Provide feedback on a regular basis to ensure employees understand how their work contributes to the company’s goals. This can be accomplished by having a clear list of performance expectations, key performance indicators, and performance review processes.
Building a company culture on a strong foundation will enable all types of businesses to pivot to the employee working structure that will provide the most benefit to everyone.
The further we move from the events that drove many companies to adopt a work-from-home structure, the more we’re hearing anecdotally about company leadership bringing employees back to the office. Many believe that it’s harder to foster company culture when everyone is working remotely.
But if the foundation described above is present, there are further steps company leaders can take to ensure the continuation of a strong culture, even when employees are not in the same working space.
Provide necessary tools and resources: Ensure that employees have the necessary equipment, software, and resources to work efficiently from home:
For those contemplating the switch to a remote work structure, it’s important to remember that an effective culture must transcend a physical location. Applying these steps can enhance a strong workplace culture to ensure employees feel valued and connected to the company’s strategic goals, which is especially important in a remote work environment.
Now more than ever, a strong company culture is essential to business success and for those who embrace a remote culture, the benefits are numerous:
Although there are many advantages, keep in mind that remote work isn’t for everyone. Company leaders will need to decide what’s best for their businesses. However, if remote work is a fit for your team, fully committing to the strategy can provide many benefits and be a powerful tool for achieving long-term success.
Exactly what company culture means can change dramatically from organization to organization. But good culture starts with commitment. Building an organizational culture takes time and dedication—but a good culture can enable you and your team to do their most productive work no matter the organizational structure.
Source:
1 Paulsen, Elise. “Unpacking Organizational Culture in a New World of Work.” Quantum Workplace, 2022. May 5. https://www.quantumworkplace.com/future-of-work/organizational-culture-research.
DISCLAIMER: The eMoney Advisor Blog is meant as an educational and informative resource for financial professionals and individuals alike. It is not meant to be, and should not be taken as financial, legal, tax or other professional advice. Those seeking professional advice may do so by consulting with a professional advisor. eMoney Advisor will not be liable for any actions you may take based on the content of this blog.
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