Company culture. It's the personality of a company, what the company is like to work for, and what sets the company apart from the competition. Company culture is a reflection of your brand and it's what makes you a unique and desirable employer - an employer of choice.
Having a great company culture isn't just reserved for big companies. Small businesses and start-ups who take the time to build an intentional company culture will see the benefits to hiring, employee retention, and sales.
Here are five benefits to small businesses for developing a great company culture.
1. Boost Employee Loyalty
When you have a well defined vision, mission, and code of ethics, you will hire employees who fit well with the company. Employees who fit the culture and are motivated by the company's direction are more likely to be loyal and satisfied in the long-run.
2. Recruit Top Candidates
Prospective employees want to work for a company that aligns with their personal and professional goals. They also want to work for a company they feel good about working for. Create and communicate your company culture, and you’ll have candidates lining up at your door.
3. Attract More Customers
Having a well defined company culture helps attract new talent, but it also helps attract new customers. When you treat employees with respect, they treat customers with respect. When employees are all in tune about the company's mission, vision, and products, they convey a consistent message to customers. And if your culture resonates with customers, they’re going to do more business with you (and refer business to you).
4. Simplify Decision-Making
When you intentionally build a company culture, you define your vision for who you are, how you treat people, and what your company is all about. These principles lay the foundation for decision making and set a base for how you make decisions and basic company values.
5. Improve Your Brand
Having a positive company culture gives you a positive reputation in your community. The word gets out to customers, vendors, prospective employees, and fellow business owners about how you run your business and what it is like to work for you.
If you're a small business, how has defining your company culture helped your small biz? Leave a comment below.
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