Successful business culture tends to be characterized by seven key points. Companies with these types of cultural characteristics tend to see increased employee engagement and more successful teams.
1. Purpose-driven company culture
Employees need a clear sense of purpose in their jobs and need to be able to identify immediate and long-term goals. A 2014 survey by Deloitte, found that employees who focused on purpose rather than profits showed boosted confidence and were more invested in the company. A 2010 study completed by Burson-Marsteller found that a solid and well-communicated purpose can contribute to a 17% improvement in financial performance.
2. Effective Communication
Workplace communication that includes patterns of clarity, courtesy, and proactivity proves to help employees express themselves clearly and allow teams to work better together, which in turn increases productivity.
3. Open Feedback
Fostering a culture of feedback is necessary for any organization. Feedback pushes higher levels of performance by allowing all members of the organization to better each other. Feedback can come from many different people and places, internal or external, and from any level of the organization.
4. Embracing Diversity
Awareness of practices and cultures that are different from your own is another key element of success.. An organization whose culture embraces diversity tends to have increased tolerance and acceptance of others, which helps cultivate teamwork and collaboration.
Teams also need to be mindful of the expectations of the organization. When expectations are clear across the board and a clear team goal is in place, collaboration becomes much more fluid.
6. Engagement and loyalty
Employee engagement has become one of the highest priorities for organizations around the world. William Kahn, professor of organizational behavior at Boston University, discovered that employees were far more emotionally and physically engaged when they experienced psychological meaningfulness, psychological safety, and availability. While compensation will always be a component of job satisfaction, research from the Harvard Business Review showsthat it’s not always the main motivator in employee satisfaction.
7. Growth and development
Every successful company needs to offer employees opportunities for professional and financial growth. Training can always be improved, and so can an employee’s ability to grow as an individual and as a team.
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