By Jason Richmond, CEO and Chief Culture Officer of Ideal Outcomes, Inc.
Creating a strong company culture is essential to the success of any organization, yet there are many myths about it that can prevent organizations from achieving this goal.
Not only can misconceptions prevent the development of positive cultures, but in turn, they can lead to negative consequences such as high turnover rates and low employee morale.
In this blog post, we’ll outline the importance of company culture and debunk five common myths that may be holding your business back.
Why is Company Culture So Important?
Company culture is important for several reasons. A positive culture can improve employee engagement, morale, and retention. And when employees are engaged in their work, productivity can increase by up to 202%.
If you have a great culture, it can also be a major selling point for potential candidates, seeing as nearly half of prospective employees deem culture as an important factor in their job search.
It’s evident that company culture can have a significant impact on your business, for better or for worse. With that in mind, let’s take a look at five myths that might be holding your business back from fostering the right company culture.
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.
Driving Cultural Change
When it comes to company culture, there are a lot of misconceptions out there. But by focusing on developing a positive culture catered to your business’ unique values and goals, you can drive the cultural change you desire and foster a fulfilling work environment for your entire team.
At Ideal Outcomes, we specialize in helping businesses drive cultural change through organizational development consulting, change implementation, talent management, coaching, diversity and inclusion, and cultural integration.
If you’re interested in learning more about how we can help you to improve your company’s culture, contact us today.