As the government makes decisions which can affect millions in the work force, business owners are accepting responsibility for their employees and how internal policies ensure a positive culture. Fedex and Starbucks recently announced their reactions to the government enacted U.S. Tax Cuts and Jobs Act. Both company’s illustrating strong leadership in expanding benefits and offerings. Fedex for example, introduced $200 million in increased compensation and Starbucks offered increased wages and even more exclusive stock options.
And while some business blogs are busy asking themselves, “are they doing enough?” As a small business owner it’s important to ask the question –
what can we do too?
The truth is that it is very hard to compete with major corporations in terms of what we’re able to pay qualified employees! As the major corporations continue to add benefits, perks and incentives, what can small business owners do to make sure their current and future employees are happy and see a long-term vision in their brand?
Here are 4 Tips for Enhancing your Company Culture
1. What do you stand for?
Strong company culture rests on having a clear and precise vision and mission of your company. Mission statements answer the two questions,
why do we matter and why should people care.
Once you’ve crafted your mission and vision statement put that EVERYWHERE. Paint it on the walls, put it in your employee manual, on your website – EVERYWHERE! The more your team (and you, honestly) feels a connection with that statement, the clearer every decision will be for you to make.
It also helps your team understand and discover their own “why” for feeling good about working for your company.
2. Recognize and Reward Achievements
This one is in two parts. Part one is setting goals, and part two is
celebrating the hell out of those that reach that goal!
Small businesses tend to have much smaller budgets for this, but it honestly does not take a lot of MONEY to enhance someones sense of self worth, pride and appreciation.
You’ll want to have a multi-faceted reward system.
- Public acknowledgement. This can be on social media (your clients will love to see you being positive about your team!), on your website, during staff meetings, a plaque on the wall – WHATEVER! Just don’t be shy about publicly acknowledging this incredible work. It not only helps to make the team member feel super proud of themselves but it also serves to motivate the rest of the team to want the very same acknowledgement.
- Certificate. This sounds simple, but it is a very cost effective way to show someone you care about them.
- Blog or opportunity to speak and share their tips to reaching this goal. Again, it makes them feel extra special to feel like the “expert” of that moment. Let them and their knowledge shine!
It is human nature to think,
“what do I get out of this?”
Having a strategy for educating your team and empowering them to grow in their skills and knowledge will increase loyalty and culture. Now again, there may not be a huge budget for this but there are simple ways to empower them. GET CREATIVE!
What if once a month, you gave them a paid day in the office to do free online seminars for your industry. Almost EVERY industry has a variety of different free training. In the marketing field you have access to Googles education suite as well as Hootsuite, Mailchimp and many others. You could also offer to pay 10% of a ticket to a special industry event. Another idea would be to allow one full day a quarter to have someone shadow YOU and see everything that goes into your day.
Create added value for your employees!
4. Open Door Policy with Action
We’ve all been in those work environments where you felt scared to offer an idea, share feedback on current things that aren’t working or where you feel like you don’t having a voice at all.
This is where SMALL BUSINESS shines over the corporate giants!
Your next great business move could be in the mind of someone on your team – whether they’re new to the field or an experienced asset. Foster an environment of sharing and listening! The moment we feel like we know it all as business owners – is the second we will FAIL.
This also allows you to hear concerns and troubleshoot problems quicker. You may not be happy with everything you hear, but you know the old saying,
What you know about – you can control,
What you don’t know about – controls you.
There you have it. Our top tips to enhance your company culture!
If you’re wondering how this can possibly apply to your current business model, let us help you! Click here for a complimentary strategy session.