When a business takes off and grow from strength to strength, it is usually tough to replace the tight-knit, family atmosphere (that the founders worked hard to establish) with a clinical and disparate corporate environment.
But as a company that launched just five years ago then ranked number 33 in the Sunday Times “Best 100 Small Companies to Work For” this year. We have established and sustained a transparent and empowering business culture which has retained its caring ethos where employees fondly regard us as their second home.
Below is our five-step formula to prevent growing pains threatening your company’s unique culture (business culture) as you take on more clients and/or employees.
1. Establish a set of defined values
Have a set of defined core values to work towards, so everyone knows what the business stands for. Core values are guiding principles that dictate expected behaviors and actions and are frequently used in the recruitment process. Many business leaders and HR managers have later admitted that those who did not work out were those who weren’t aligned with the company’s core values.
2. Define a goal that everyone works to
In the same way that we all strive to achieve our personal goals, every business needs to establish a goal which sets out what it is seeking to achieve. It is vital that all employees understand the company’s journey and goal––along with their specific role in achieving it. At TRFC we go a step further by sharing quarterly financial updates with our team so they can see how close we are to achieving our overarching aim.
3. Create a coaching culture
Establish a coaching culture which encourages your key people – the management team – to think critically and take the initiative to reach their full potential. A strong management team who are invested in, and coached, will energize and engage all your employees.
Related Article: 4 Reasons Why A Business Folds-Up
4. Communicate clearly and consistently
Keeping everyone updated is absolutely vital via regular and consistent communication to staff. Draw on wide-ranging tools that bring together people across different locations and departments such as regular face-to-face meetings, email updates – and an intranet with a lively bulletin board.
5. Recruit, train and retain a happy team
Engendering a sense of loyalty by looking after your people does not mean companies have to spend a fortune. For a relatively small outlay, benefits such as free hot drinks, regular meals out, break out areas and birthdays off mean a lot to staff who appreciate and value them.
With some studies claiming that every time a business replaces a salaried employee, it costs 6 to 9 months’ salary on average – high staff turnover can become a major obstacle in a company’s growth journey.
Upholding and improving your business culture invariably uplifts your company’s output. Adhering to the mantra of ‘looking after the people who look after the business’ and following these steps will go a long way to achieving an environment with a palpable buzz where Monday morning blues are relatively rare and where everyone is energized and engaged.
By Adam Walsh, business director at The Right Fuelcard Company.