Putting a Value on Culture
29th June 2012 · 0 Comments
In a previous post we discussed the need to invest in your talent pool by offering competitive compensation and making sure your current employees are aware of it. At the same time, we realize that most small companies can’t offer the dazzling benefits or compelling compensation packages of the 800-pound gorillas. But there is another form of compensation — an intangible form that doesn’t express itself in dollar amounts or co-pays, yet plays a major role as a motivator for new and current employees. We’re talking your corporate culture.
What do we mean by “culture?” It’s a nebulous term, but it includes all the non-monetary selling points that make your business a desirable place to work. Research by Mercer indicates that the biggest motivators for U.S. workers include respectful treatment, a satisfying work-life balance, quality colleagues and quality of leadership. Those factors are all related to corporate culture — and they all ranked higher on the scale than base pay or benefits.
That’s exciting news for small businesses, because more often than not these businesses have an easier time of providing a personalized, flexible culture than their more rigid, less personal, less responsive national or multi-national counterparts. Do you offer a “family environment” where the rank and file can interact freely with their bosses in a relaxed atmosphere? Do you give working parents flex time or other scheduling options to make their lives easier and more rewarding? Do you provide comforting little amenities or special events where everyone can just have a great time and feel like part of a team? Little things really do mean a lot — including better employee retention and more competitive job candidates. Investing in your corporate culture doesn’t have to cost much, but the return can prove invaluable.
Want to learn more about it? Just ask!