Your ERS - Company Culture and Morale
ERS 5 of 10
In this series we are looking at creating, implementing, and executing an Employee Retention Strategy for the survival of your business over the next 24 months.
In this series we are looking at creating, implementing, and executing an Employee Retention Strategy for the survival of your business over the next 24 months. This is part 5 of this series so if you haven’t watched parts 1 to 4, I encourage you to do this before continuing with this Company Culture and Morale component of your ERS.
62% of employees resign because of a toxic work culture. It is one of the 5 top reasons for talent moving on and a key element of your ERS. But it is often undervalued and neglected which is unfortunate because it is one of the most difficult elements to turn around because it is primarily dependent on human emotions, attitudes, and behaviours.
Best practice of this component is to define your company culture and assess current perceptions of it across all stake holders. This is important because it affects everyone including the business leaders, employees, suppliers, and customers and it is visible in the expression of your employee brand, your supply chain dynamics, your customer service and the profitability and resilience of your business.
There are 4 types of company culture deployed in every business with one type being dominant. 1. Clan Culture – this is collaboration, focused on the wellbeing and functionality of its internal stake holders
2. Adhocracy Culture - is about entrepreneurship and creativity with a stronger focus on the individual and disruption causing positive change
3. Market Culture - is dynamic and competitive and focused on profitability and market share
4. Hierarchy Culture - is based on formal structures, efficiency, and predictability.
No matter which is dominant in your workplace 94% of employees believe a defined company culture is important to a business’s success.
A great culture helps us understand our purpose at work, it gives us a sense of community and unity and it gives us opportunities and potential successes. It is fundamentally critical to invest in this aspect of your business. Ignore your company culture and you are statistically on a slippery slope down.
You can start building a great company culture with management, leaders and employees discussing and agree upon what a great culture looks like for them and then formulating a plan to bridge the cultural gaps.
You can contact me any time for advice or to ask a question and remember RIPPLE has all the services you need to plan, implement, and execute all components or your Employee Retention Strategy.