The importance of corporate culture

26 November 2022

Developing a corporate culture is not only about building employee loyalty; it’s also about building customer loyalty. Defining corporate culture means establishing a set of values on which a company bases its practices. These can also be called rules that frame behaviours and interactions within the company. To put it simply, a corporate culture is like a general attitude. It must be the internal reflection of an external image.

How is a corporate culture created?

Creating your corporate culture requires clear and effective communication. You must have a clear idea of the values you want to adopt in order to be able to communicate them effectively to your employees. In your business practices, your social involvement, and the work methods you adopt, your corporate culture touches on all aspects of professional life. It is not enough to decide on a culture and tell people what it is. It needs to be cultivated and propagated. Employees who are asked for their opinion and encouraged to actively participate in the growth of the company are excellent corporate ambassadors. In addition, senior management should be visible and accessible outside of annual performance reviews.

Why is corporate culture so important?

A good company culture plays a key role in employee satisfaction. After all, it’s your people who make the machine run. So when someone tells you there’s sand in the gears, you need to listen. With Quebec’s turnover rate of qualified employees at almost 25% in 2019, establishing a company culture is common sense. Inviting your employees to be part of the growth of the organization and sharing in even the smallest successes helps build loyalty. Retention is key, and we now know that compensation alone is not enough.

Cultivating a sense of belonging

The concept of corporate culture goes far beyond a fancy coffee machine and foosball game; a healthy corporate culture creates a sense of belonging and pride. Corporate culture ensures the quality and loyalty of your workforce. You have everything to gain by developing a corporate culture that makes your employees want to wear your colours proudly.

 

For more articles about developing your business, visit our blog.