The HR specialists at Exceed Outsourcing explain why workplace culture is so important for SMEs, and offer some top tips for building a great culture in your business…
For help enhancing your corporate culture, please Get in Touch.
Workplace Culture is Really Important
Also known as company culture, corporate culture and organisational culture, workplace culture and job satisfaction go hand in hand: no matter how shiny the payslip, a poor workplace culture will inevitably create a poor employee retention rate.
In fact, 46% of job seekers say that workplace culture – the shared values, beliefs, behaviours and attitudes in an organisation – is an important deciding factor when looking for a new job.1
66% of UK Millennials – who make up the majority of the working population – actually care more about culture than compensation2 and feel that job-hopping is advantageous to their careers3.
So if you’d like to attract and retain ‘top talent’ in your business, it’s vital that individuals feel they ‘fit’ with your company’s personality.
Assessing and improving company culture is therefore essential to recruiting and keeping quality staff in any business.
How To Build a Great Workplace Culture
1. Promote Diversity and Inclusivity
- 79% of employees say that working somewhere with a diverse workforce is important to their happiness at work.4
- More diverse companies also outperform companies that have little diversity5.
- To discover opinions on diversity and inclusion in your company, you can send surveys to your employees. Ask individuals to anonymously share how inclusive and diverse they feel the company is, and then take action on the areas that you could improve.
- Objectively assess your recruitment process too, and reduce any unconscious or deliberate bias that may be occurring when inviting candidates to interview or making job offers.
2. Move With the Times
- We all want a better quality of life, and this includes a better working life.
- The pandemic catalysed the shift to hybrid/flexible working and emphasised the importance of mental health at work.
- To modernise your company culture, consider introducing employee benefits and wellbeing initiatives such as flexible working, creating relaxed and green office spaces, and observing Mental Health Awareness Days.
3. Promote Employees’ Growth Within Your Company
- Take your employees’ career growth seriously by offering career development opportunities within your company.
- Empower employees to learn new skills that are useful to their personal career.
- Methods range from regular e-learning, to upskilling your staff via apprenticeships.
- Given that 94% of employees would stay at a company longer if it invested in their career development6, professional development of your staff is vital for attracting, retaining, and growing talent within your business.
4. Communication is Key to Culture
- Seeking feedback at all levels within your business can have a profound effect on your company’s culture and flow.
- Open door policies/encouraging people to speak up, will promote collaboration and respect, and help your employees feel more comfortable at work.
- Open communication is extremely beneficial when mistakes inevitably occur, as the process of owning and rectifying mistakes will be significantly faster when your staff are used to everyone behaving with transparency.
Help with Workplace Culture for SMEs
This article offers a useful starting point for assessing and developing your company’s culture, but if you’d like more guidance, please Get in Touch with the HR specialists at Exceed Outsourcing.
Our Human Resources and Payroll support services for SMEs can help you create a better working environment for your team – from the creation of HR policies and staff handbooks, to annual HR audits – and will free you up to focus on the tasks that will move your business forward.
References
- teamstage.io/company-culture-statistics/#:~:text=2.-,Company%20culture%20is%20an%20important%20factor%20for%2046%25%20of%20job,it%20at%20least%20relatively%20important
- businessnewsdaily.com/15206-company-culture-matters-to-workers.html
- businessnewsdaily.com/7012-millennial-job-hopping.html
- insight.culture-shift.co.uk/workplace/uks-workforce-calls-for-more-action-on-diversity-and-inclusion
- corecomconsulting.co.uk/diverse-companies-perform-better/#:~:text=Recent%20research%20indicates%20that%20companies,returns%20above%20their%20industry%20average
- edume.com/blog/continuous-learning-in-the-workplace#:~:text=94%25%20of%20employees%20would%20stay,was%20when%20you%20acquired%20it