Why Company Culture Has Become More Critical to Company Success

Culture is no longer about being a cool place to work

Prologue: The Myth of Company Culture

Until about 10 years ago, I had never heard the term “company culture,” even though it’s been a part of my success for twice as long. As an entrepreneur and a builder of companies, culture has always been a tool I use to make sure I get better people, less expensively, for longer, and with more productivity.

Part 1: What is Company Culture?

I can tell you what I think my definition of company culture is. In fact, I think I just did in the prologue. Poorly. But my take on culture is top down. It was what I made it, and each time I got lucky reinventing the wheel.

Part 2: The Increasing Importance of Company Culture

In order to succeed in today’s hyper-competitive business landscape, we need to conform to how our workforce, and even work itself, is changing. Gone are the days of repetitive tasks, siloed responsibilities, and compartmentalized ownership of teams and processes.

Part 3: How To Implement a Company Culture Plan

So company culture is great to talk about. But how do you implement it?

  1. Transparent Internal Communications: This about implementing a formal and mature communication program within the company in order to enhance trust. Messaging company news to the workforce should be structured, planned, and honest at all times. This is a lot easier to do when leadership is proactive about this step in the platform.
  2. Process Supported HR Philosophy: When talent has what they need to do the job, they perform that much better. At this level, we’re looking at the compensation, benefits, onboarding, training, and performance tracking and rewarding as all of those things relate to satisfaction and retention.
  3. Community Building: I love that Lynn sees this as “Belonging, not just inclusion.” To put it simply, this is where life and work meet and blend, and it’s usually a big cross-section that is rarely addressed.
  4. Location/Environment: When I mentioned before that my definition of culture used to be providing a cool then a unique place to work, this is that, and more. And unfortunately, a lot companies stop there on their way down the chart. This is about making sure that the workplace accommodates all types of talent doing all types of work.
  5. Perks: We know what these are. What we sometimes don’t do is make sure that what we offer aligns with the foundation of our culture all the way up the hierarchy.

Epilogue: Culture Is More Than Your Guide, It’s How You Work

Company culture isn’t just an idea, it’s something to implement, manage, and live. It’s critical for attracting and retaining the best talent, and it’s going to influence the decisions of those who want to invest in you or work with you.

I’m a multi-exit, multi-failure entrepreneur. Sold ExitEvent. Building TeachingStartup.com & GetSpiffy. Former Automated Insights. More info at joeprocopio.com

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