Culture Shock! The Path to Sustainable Success
Date published:
Sam Spoors, Founder & MD at Talentheads, explores how building a thriving workplace culture is key to maximizing your investment in labour and achieving sustainable success.
The quarter 2 NECC quarterly economic survey results have been revealed and in the arena of the labour market and labour costs, the news is positive! Quarter 2 shows an overall decrease in the pressures and concerns around staffing costs and voices that more businesses are making investments in this area. Fabulous!
However, labour costs are still undoubtedly viewed as a price pressure point for businesses.
So, the question is: what is more crucial than taking the time to think about how we can make those investments in labour and staffing worthwhile?
It is super important to consider, if you are investing in staff, how to ensure that your working environment is optimal to get the very best on this most precious investment.
The magic ingredient: Culture
2024’s rapidly evolving business landscape insists on cultivating an inclusive culture and a flexible and engaged workforce.
Did you know….
- If your culture is perceived as positive by your employees, they are 5% more likely to refer your business to family and friends?
- During the candidate application journey if your culture is perceived as negative 77% of people will not apply.
Consider, what is the Sunday night vibe for your team members? How do they feel the night before they come to work in your business?
The brilliant news is, if you feel that your culture might need a little development, there are things that can be done. Start your culture health check by considering these factors:
- Inclusivity. An inclusive culture is where all employees feel valued, respected and empowered to bring their unique perspectives and skills. Inclusivity is not just about diversity, it is about creating an environment where everyone has an equal opportunity to succeed and be heard. Research consistently demonstrates diverse teams are outperforming their less diverse counterparts.
- Flexibility. The role of flexibility in the workplace is an increasingly key factor in employee satisfaction, a successful culture, and retention. Remote work, flexible hours, and the ability to adjust schedules is a huge factor when considering job satisfaction, increased productivity and lower staff turnover rates.
- Talent Development. Investing in employee training and development is crucial for retaining top talent and ensuring that team members remain engaged and committed to your organisation. Continuous learning opportunities not only benefits the employee, but the employer too and contributes to overall success. When employees see that their employer is invested in growth and development, they are more likely to stay with the company long term.
- Psychological safety. In a thriving culture no one ever feels nervous to share ideas, questions, concerns or mistakes. A conscious effort is required from leadership to always encourage open communication and actively listen to employees with empathy and respect.
So, in summary, be sure to make the most of the investment that you allocate to “labour” by building and supporting your business around thriving individuals.
Culture is not the sole responsibility of a business owner, it’s a collective responsibility of the team. As a leader you should not dictate your culture, as much as you wish to steer it, but safeguard it fiercely, like you would with any other key investment. Watch your culture as it evolves and matures over time and be sure to keep your finger on the pulse to ensure that it is inclusive, open, flexible and developing effectively.
“The greatest leader is not necessarily the one who does the greatest things. He is the one that gets the people to do the greatest things.” – Ronald Reagan, former US president.