3 Ways To Create A Company Culture That Will Attract And Retain Talent – CEOWORLD magazine

The rise of the Silicon Valley startup and the ensuing battle for tech talent have reverberated throughout the world, contributing at least in part to an increased focus on company culture. The last few decades have seen sweeping changes in the culture of major corporations, from small changes such as relaxed dress codes toinnovations like nap podsthat came straight out of left field.

Weird benefits aside, companies that cultivate a strong sense of culture enjoy a significant competitive advantage. According to Gallup, they attract the most talented job applicants andenjoy 33% higher revenue plus, they need to hire less often. Research from Columbia University found that organizations with high degree of company culture experience a turnover rate of just 13.9%, while those with a toxic culture experience an expensive turnover rate of 48.4%.

Unfortunately, not even $13,000 nap pods can guarantee a rich, mission-driven culture. Instead, culture is something that takes time and leadership to develop. With that in mind, the best time to start is now. Follow these three steps and you can plant the seeds for a company culture that employees will never want to leave.

Take the temperature of your current culture by engaging with employees and seeing whether they know the companys mission. Then ask the same of your customers. If everyone is on the same page, your culture supports your mission and amplifies it. If theres a disparity, its time to go back to the drawing board and connect workers with the why of your company.

All too often, conversations about company culture center around beanbag chairs and ping-pong tables, giving way to the notion that a few office props can transform a company into a workers utopia. Reality, of course, is far different, and it takes considerable effort to create a culture that supports each employee and catapults a company ahead of the competition.

The good news is that you can start small. By adopting these three initiatives, youre signaling to your employees that culture will be an important emphasis at your organization. Set the stage for a mission-driven culture, and the evolution will follow.

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3 Ways To Create A Company Culture That Will Attract And Retain Talent - CEOWORLD magazine