Company culture is where HR, employer branding and just being a good business with good people all come together. With aspirational brands of Silicon Valley (eg: Google and Facebook) sweeping our LinkedIn feeds, the concept of company culture has become slightly, um, skewed, with some businesses replacing meaningful HR with ping-pong tables and lukewarm craft beers on a Friday afternoon. Employees (and candidates) want to work with companies that help them to grow – this means investing in your team, thinking of them as the individuals they are, and showing how you, as a business, can help them to reach their career goals.
A great team makes a great business and if you have an amazing company culture, it helps to attract and keep the best talent, who are only going to make your business better. According to a study by professors from Columbia Business School and Duke’s Fuqua School of Business, 50% of executives now agree that corporate culture can influence productivity, creativity, profitability, value and growth, and 92% said they believed improving their firm’s corporate culture would improve the value of the company.
On the flip side, employer review site, Glassdoor found that 84% of employees would consider leaving their current jobs if they were offered another role with a company that had a great reputation. And if they did leave, it would typically cost their current company around 33% of their salary.
So, in other words, company culture’s a big deal.
Training your team is probably one of the best ways to build a strong company culture and show your team that you actually care. Personal development makes people feel valued and allows them to grow in your business, instead of away from it. In fact, employees who think they are progressing in their career are 20 % more likely to stay at their companies. This creates a ‘growth culture’ in your business, attracts the right people, and puts a tangible plan in place that allows you to see exactly how each person can play a part in your wider business goals. Score!
In addition to having a core team who are motivated and want to stick around, it gives your business a competitive edge. The more skills for your team = the more skills for your company, which allows your business to move with the times in wake of new technology, systems and legislation that might affect your industry. When you truly invest in this and look ahead, it puts your business 2,3,4 steps ahead of the competition. Double score!
In the worlds of Doug Conant, CEO of Campbell’s Soup “to win in the marketplace, you must first win in the workplace”
Wise words Doug, wise words.
Company culture affects each and every person within the business and everyone should feel valued. But trust me, nothing says ‘you’re not valued’ by only training certain members of staff and not choosing to invest in others – which is something that’s really common for admin roles.
Typically, bigger businesses spend loads of budget on training their technical staff – whether it’s because they feel that they’re more important than admin, or that by law (like in many financial companies) they have to train them in certain things).
Admin staff are often a second thought (if even a thought at all) when it comes to staff training, when actually, when they’re good, can have a huge impact on the efficiency of your wider team and your business. Typically, a good admin should be saving other members of staff hours of time a day, which, if you think of their hourly value, can actually help to save your business money. Which is totally worth it.
As most you know, your team are your greatest asset and when you invest in them, they’ll invest in making your business even better. This is why we create bespoke training and workshops for businesses – from 1-to-1 training, to group workshops and off-site team building days. To learn more about how you can use training to invest in your team and boost company culture, get in touch.