By Jason Richmond, CEO and Chief Culture Officer of Ideal Outcomes, Inc.
Why is Company Culture So Important?
5 Myths About Company Culture
1. Company Culture is Only For Large Businesses
While it may be true that large businesses have more resources to invest in their cultures, that doesn’t mean that small businesses can’t or shouldn’t create a strong culture.
In fact, small businesses often have an advantage in creating a strong company culture. This is because they typically have fewer employees and a more intimate work environment, which can help foster increased trust and camaraderie among employees.
No matter your business’ size, company culture should be a priority – regardless of whether you have 2 or 20,000 employees.
2. You Need to Spend a Lot of Money to Create a Good Company Culture
You’ll indeed need to invest some time and money into creating a positive culture, but you don’t need to break the bank to do so. There are plenty of low-cost or no-cost ways to improve your company’s culture.
Employee recognition is a minimal expense that can go a long way in making your employees feel appreciated. Another low-cost way to improve culture is to focus on employee development; investing in your employees shows that you’re committed to their growth, leading to a more positive workplace.
You can also show employees you care about their well-being by offering flexible work hours or telecommuting options.
3. A Strong Company Culture will Fix all of Your Business’s Problems
A solid company culture can improve a number of areas within your business, but it won’t be a cure-all for every issue. For example, if you have a high turnover rate, improving your company culture can help retain employees and attract new talent. But if the reason for your high turnover rate is that your employees are overworked, then improving company culture won’t be enough to fix the issue.
Many factors contribute to the success of a business, and culture is just one of them. When a strong company culture is paired with other positive business practices, it can help create a successful and thriving business.
4. There’s One “Right” Type of Company Culture
There are many types of company cultures, and what works for one business might not work for another. The key is to build one that fits well with your company’s mission and core values. For example, if your business is focused on innovation, you might want to create a company culture that encourages risk-taking and out-of-the-box thinking.
There’s no right or wrong answer when it comes to culture- what matters most is that you create a culture that fits well with your business and helps you achieve your goals.
5. A Good Company Culture is All About Fun and Games
While it’s important to have some fun at work, company culture is about much more than that. A good culture is built on a foundation of trust, respect, and collaboration. If you want to create a strong culture, focus on building these core values into your business.
There’s nothing wrong with adding some fun and games into the mix, but remember that a good company culture is about much more than just having a good time.