Most of the small businesses and start-ups tend to focus on growth, customer acquisition, customer retention, and sales. For them, company culture isn’t something that they prefer to focus on. Ironically, for entrepreneurs, setting up a new company is the ideal time to build a new corporate culture that sets them apart from their competition and differentiates their brand from the rest. The importance of defining company culture lies in the fact that it not only impacts how productive, engaged, and happy your employees, but also your ability to attract, hire, and retain the best available talent in the employment market – which is one of the main concerns for startups. Otherwise, employees just look for executive search firms and go with well-established firms. Startups must know this – there is a 50% chance of their survival in a given market, especially during the first two years. Some of the main reasons of failures are – poor coordination, incompetence, poor management, poor hiring – all of these factors can be easily traced to the company’s culture and values.
There are ways that you can build and nurture your company to attract the best of talent –
Document your values: You need to empower your company and teams within by creating certain processes. These processes should include team brainstorming, learning brainstorming, collaboration, collation, feedback cycle and management, and adapt to changes.
Hire the one who fits: Instead of going after the employee from the best institute, look for someone who matches with your views and values and who believes in your company and its values. By stating this, you should in no way disregard any specific or technical skills in a prospective candidate, but it is equally important to check the ability of the prospective hire to fit well with the company’s culture.
While interviewing a candidate, be open about your company’s work culture, what is expected out of them, and ask them a few questions to know if they understand your values. This will help you assess the potential candidate’s capabilities and suitability.
Create a positive work culture: You can create a positive work culture by encouraging positive communication, a culture of coordination, and a regular feedback cycle. Do not forget to keep the communication cycle open for the feedback to work positively. This is because transparency and openness tend to build a sense of ownership of tasks within an organization.
So, a strong company culture not only helps you build a strong brand image but also helps you attract the right kind of talent that you need.