How To Attract and Retain Superstar Employees

As a small business coach, I have found that finding and retaining good employees is crucial for the success of any small business. The performance and productivity of your workforce have a direct impact on your bottom line. Employees interact with customers, develop products and services, and represent your small business's brand and values. Having a talented pool of engaged employees can give your small business a significant competitive advantage.

On the other hand, high turnover from poor hiring and retention practices can be extremely costly. Recruiting and training new employees requires a substantial investment of time and money. Plus, there is a loss of productivity as new hires get up to speed. When employees leave, your business loses their institutional knowledge and expertise. This brain drain can significantly impact performance. Developing an effective hiring and retention strategy needs to be a priority for leaders looking to build a thriving small business.

This guide will provide valuable insights and proven tips on how to find, motivate, and keep top talent over the long term. We’ll share strategies for sourcing and selecting the best candidates. You'll learn best practices from the best small business coach in Oklahoma City for onboarding new hires and techniques for fostering an engaging company culture. We'll also discuss the role of professional development, work-life balance, and competitive compensation in retention. Follow these recommendations, and you'll be on your way to assembling a skilled and dedicated workforce that drives business success.

Define 'Good Employee'

When hiring, it's important to first define what makes a good employee for your specific company and role. This will help guide your recruitment and retention strategies. Some key attributes to consider:

Skills and Experience - Ensure candidates have the required hard skills, education, and experience listed in the job description. Also, look for related transferable skills.

Cultural Fit - Hire people whose work styles and values align with your company culture. Seek motivated self-starters who work well in teams.

Strong Work Ethic - Look for responsible, dependable, and proactive workers who consistently meet deadlines and expectations. They take initiative rather than waiting to be told what to do.

Positive Attitude - Choose optimistic go-getters with passion for their work. They handle stress well and focus on solutions.

Good Communication - Effective verbal, written, listening, and interpersonal skills enable collaboration. They openly share ideas and provide constructive feedback.

Desire to Learn - Eagerness to continuously expand skills shows ambition. On-the-job training and education builds talent.

Problem-Solving Skills - Analytical and creative thinkers who troubleshoot issues and uncover innovations help drive business.

Defining ideal employee criteria sets qualifications to screen candidates for the best hires. It also gives current staff a model for success to develop their skills and value.

Recruitment Strategies

Finding and attracting top talent is crucial for building a strong team in your small business. Here are some effective recruitment strategies that I’ve discovered as a small business coach working with numerous small business owners:

Leverage Employee Referrals - Encourage current employees to refer qualified candidates from their networks. Employee referrals tend to yield higher quality hires. Offer referral bonuses to motivate employees.

Network and Build Relationships - Attend industry events, conferences, and seminars to meet potential candidates. Connect with professional associations related to your industry. Build genuine relationships over time to establish your company's reputation.

Optimize Your Job Listings - Craft compelling job descriptions that communicate your company mission and culture, not just responsibilities. Highlight opportunities for growth and development. Advertise openings on niche job boards related to your industry.

Search LinkedIn - Leverage LinkedIn Recruiter to source passive candidates. Search by skillsets, experience, education, and other criteria. Reach out directly to qualified prospects.

Partner with Universities - Build relationships with nearby colleges and universities to recruit graduates. Host info sessions on campus. Offer internships and mentorships to attract young talent.

Modernize Your Employer Brand - Showcase your company culture on social media and your careers page. Highlight unique perks, values, and community engagement. Spotlight employee testimonials and stories.

Consider Diversity - Prioritize diversity and inclusion in your recruiting. Seek candidates from a variety of backgrounds and demographics. Remove bias from your hiring processes.

Move Quickly - Respond promptly to applicants and schedule interviews rapidly. Make hiring decisions decisively. Top candidates tend to get snapped up quickly.

Interview Best Practices

Conducting effective interviews is crucial for identifying and hiring top talent for your small business success. Here are some best practices:

Ask the Right Questions

• Focus on questions that reveal the candidate's skills, experience, work ethic, problem-solving abilities, and cultural fit. Avoid personal or illegal questions.

• Ask mostly open-ended behavioral questions like "Tell me about a time you had to deal with an unhappy customer" rather than simple yes/no questions.

• Inquire about their interest in the role and company to gauge engagement.

• Ask follow-up questions on their resume and past work. "I see you increased sales by 30% in your last role. Walk me through how you achieved that."

Evaluate Candidates Thoughtfully

• Look beyond credentials to understand their true abilities. Have them demonstrate skills with role-playing scenarios.

• Assess their communication skills, analytical abilities, and emotional intelligence, not just technical skills.

• Consider whether they would thrive in your company culture. Look for motivation, work ethic, and team orientation.

• Develop a consistent rubric and rating system to fairly compare candidates. Take detailed notes during interviews.

• Check references to verify past performance and fill in any gaps in your understanding of the candidate.

Taking time to properly screen applicants through insightful interviewing leads to making job offers to the very best candidates who will become engaged, productive employees.

Onboarding New Hires

Onboarding is a critical time to set new hires up for success. A strong onboarding process helps new employees learn their role, understand the company culture, and feel engaged from day one. Here are some tips for effective onboarding:

Training

• Provide job-specific training on systems, processes, and responsibilities. Make sure they have the hard skills to excel in their role.

• Assign a mentor or buddy who can answer questions and provide guidance.

• Create a training schedule or checklist to ensure all bases are covered.

• Offer ongoing training opportunities for continuous learning and growth.

Orientation

• Give an overview of the company history, mission, values, and culture.

• Review organizational charts, reporting structures, and key contacts.

• Tour the office space and facilities. Introduce the new hire to team members.

• Explain company policies, procedures, and resources available.

• Set goals and expectations for the role. Provide job descriptions and performance metrics.

Resources

• Set up equipment, email, building access, and other logistics ahead of time.

• Provide guides, manuals, or FAQs on company processes.

• Create quick reference sheets with important contacts, tools, and systems.

• Assign a peer buddy as a go-to resource for questions.

• Check in regularly to see if any other resources are needed.

Following best practices for training, orientation, and resources helps new hires feel supported. This leads to greater productivity, job satisfaction, and retention.

Company Culture

Company culture refers to the shared values, attitudes, standards, and beliefs within an organization. It affects every aspect of the workplace, from how employees interact to how decisions are made. Developing a strong, positive company culture is crucial for attracting and retaining top talent for your small business success. Here are some tips:

Define your values. Determine 3-5 core values that represent what your company stands for, like integrity, collaboration, innovation, etc. Make sure leaders model these values and they are incorporated into policies and Standard Operating Procedures.

Create an engaging environment. Design workspaces to facilitate collaboration and relationship building. Provide recreational spaces for employees to relax and recharge. Host social events, parties, team building activities.

Encourage open communication. Maintain open door policies. Provide anonymous feedback channels. Hold regular all-hands meetings for updates and Q&As. Foster transparency at all levels.

Promote diversity and inclusion. Value diverse backgrounds and perspectives. Prohibit discrimination and harassment. Accommodate different needs and work styles. Seek input from all groups.

Support work-life balance. Offer flexible schedules and remote work options. Provide generous time off and leave policies. Respect employees' personal lives and responsibilities outside work.

Recognize achievements. Celebrate wins and milestones. Reward outstanding contributions. Give praise and appreciation for good work. Highlight employee accomplishments.

By nurturing a supportive, engaging culture centered around shared values, companies can increase employee satisfaction, boost retention, and attract top talent. The company culture sets the tone for the entire employee experience.

Professional Development

Professional development opportunities are essential for retaining good employees. Employees want to continuously learn new skills and advance their careers. There are several effective professional development strategies that I’ve found as a small business coach working with hundreds of small business owners:

Training Programs

• Offer internal training programs and workshops. These allow employees to expand their skills within their current role. Provide a training budget so employees can take external courses too.

• Cross-train employees in different departments. This exposes them to new areas while diversifying their skills.

• Bring in expert guest speakers or host "lunch and learn" sessions for employees to learn new concepts.

• Send employees to industry conferences and events to stay on top of the latest trends and innovations.

Mentorship

• Develop a formal mentorship program that pairs junior employees with more experienced mentors. The mentors can advise them on career growth and developing new capabilities.

• Managers should provide coaching and mentorship through regular one-on-one meetings with their direct reports. This gives ongoing guidance tailored to the employee's strengths and interests.

Growth Opportunities

• Create clear pathways for advancement, so employees can see options to get promoted and take on more responsibility over time.

• Support employees' goals for upward mobility by providing training for new skills needed in more advanced roles.

• Offer stretch assignments and special projects so employees can gain experience and showcase skills outside their daily responsibilities.

• When appropriate, promote from within and fill higher-level positions with existing employees. This demonstrates opportunities for upward mobility.

By focusing on professional development through training, mentorship, business coaching, and growth opportunities, companies can retain their best talent over the long-term. Employees who feel supported and see a path forward are more likely to stay engaged and committed.

Compensation and Benefits

Offering competitive compensation and benefits is key to attracting and retaining top talent. Here are some best practices:

Fair Pay

• Research pay rates in your industry and geographic region. Pay employees fairly based on their role, experience, and performance.

• Consider paying above market rate for hard-to-fill roles.

• Offer annual raises to keep up with cost of living and reward performance.

• Conduct compensation reviews regularly to ensure pay equity.

Insurance

• Provide quality medical insurance. Consider covering a portion of the premiums.

• Offer dental, vision, disability, and life insurance.

• Allow employees to customize plans to fit their needs.

Retirement Plans

• Offer matching 401(k) contributions.

• Provide education about saving for retirement.

• Consider profit sharing plans.

Time Off

• Offer ample paid time off for vacation and sick days.

• Allow employees to purchase additional vacation time if desired.

• Provide parental leave for new parents.

• Allow flexible schedules when possible.

Providing strong compensation and benefits shows employees they are valued. It promotes loyalty, satisfaction, and better performance. Evaluate regularly to remain competitive.

Work-Life Balance

A healthy work-life balance is key for retaining good employees long-term. Offering flexibility shows you trust your employees and value their personal lives. Consider implementing flexible schedules, remote work options, and time off policies that support work-life balance.

Flexible Schedules

Allow employees to have flexible start and end times for their workday. As long as they complete their required hours, let them choose when those hours fall. For example, one employee may prefer to work from 7am-3pm, while another works 10am-6pm. Accommodate individual schedules whenever possible.

Remote Work Options

With today's technology, many roles can be done remotely for some or all of the week. Offer work-from-home days or telecommuting options. Employees appreciate the ability to avoid commutes and work from home when needed. Set clear expectations and have employees report on tasks completed when working remotely. Video calls and collaboration tools keep remote workers engaged.

Providing schedule flexibility and remote work shows employees their personal lives are valued. This contributes to work-life balance and higher job satisfaction. Employees who feel supported are more loyal and motivated.

Measuring and Improving Employee Retention

Monitoring employee retention metrics and gathering feedback are critical for identifying issues and opportunities to improve. Here are some best practices:

Conduct exit interviews when employees leave to understand why they are choosing to go elsewhere. Look for any themes or recurring issues that need addressing.

Send out engagement and satisfaction surveys regularly to gauge how happy and fulfilled employees feel in their roles. Anonymous surveys can elicit more honest feedback.

Track turnover rates across teams and positions to identify problem areas. Set goals for reducing turnover. Investigate spikes or high rates.

Calculate retention rates at various milestones, such as after 3 months, 6 months, 1 year, etc. This indicates where you may be losing people and can prompt further analysis.

Monitor absenteeism and sick days as potential signs of disengagement or burnout. Check if certain teams or individuals take more unplanned time off.

Gather feedback during one-on-one meetings with managers about what employees enjoy about their jobs and what needs improvement. Managers can surface themes.

Conduct stay interviews to learn what makes employees want to continue working for you. Understand their goals and motivations.

Analyze exit data to identify what types of employees are leaving - high performers, disengaged workers, long timers, new hires, etc.

Set retention targets as key performance indicators and measure progress. Share results across the organization.

Continually monitoring metrics, soliciting feedback, and acting on insights will lead to higher employee retention over time. The goal is to uncover issues early and implement solutions quickly.

Does this sound overwhelming?

Consider hiring a small business coach who can provide in-depth guidance and support for you and your small business to succeed.

Click Here to schedule a FREE consultation with one of the top small business coaches to help you plan your growth strategies.

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Unlocking Team Potential: Building A Resilient Company Culture With Business Coaching And DISC Proficiency

In the dynamic world of small business operations, success hinges not only on strategies and systems but also on understanding and leveraging predictable human behavior effectively.

Building a thriving company culture requires a profound understanding of each individual within the organization.

One powerful tool that guides this understanding is the DISC model, categorizing predictable behavioral traits into four distinct personalities: Dominance (D), Influence (I), Steadiness (S), and Conscientiousness (C).

Employing DISC in your small business can significantly contribute to building a cohesive and productive company culture.

Decoding the DISC Model:

The DISC model serves as a compass, navigating through an individual's predictable behavior in diverse circumstances. Each style represents a unique set of characteristics and tendencies.

Dominance (D): This style embodies a direct, results-driven approach. Individuals with a dominant style are assertive, resolute, and avid seekers of challenges and growth opportunities—essential qualities for effective team building in any small business.

Influence (I): The influential style manifests through an outgoing, enthusiastic demeanor. Individuals exuding this style revel in building relationships, excel in persuasive communication, and often seek validation and acknowledgment—a crucial aspect of nurturing a positive company culture.

Steadiness (S): The steadiness style underscores cooperation, support, and a patient ethos. Individuals embracing this style are steadfast, dependable, and value teamwork and stability in their professional sphere—cornerstones for a resilient company culture.

Conscientiousness (C): The conscientiousness style places emphasis on precision, accuracy, and a quality-centric approach. Individuals characterized by conscientiousness are meticulous, analytical, and prefer a methodical and organized approach to tasks—vital attributes in a small business environment where attention to detail is key.

Understanding these distinct styles empowers organizations to tailor their approach to communication, team dynamics, conflict resolution, and leadership development, amplifying organizational efficacy and promoting effective company culture.

Utilizing the expertise of a business coach is highly suggested for getting the best outcomes when implementing DISC in your small business.

Applying DISC to Cultivate Company Culture:

Communication: DISC styles lend insight into tailoring communication strategies. Addressing a D-style employee demands a direct and succinct approach, whereas an I-style employee thrives on engaging and sociable interaction—essential strategies for effective team building and promoting a healthy company culture.

Team Dynamics: Utilize the DISC model to compose diverse and harmonious teams. A blend of D, I, S, and C styles fosters a varied perspective, augmenting problem-solving and innovative capacities, vital elements of successful team building within a small business setting.

Conflict Resolution: When conflicts arise, recognizing involved parties' DISC styles guides resolution efforts. Addressing concerns and motivations aligned with each style fosters understanding and facilitates amicable resolution—a critical skill for maintaining a positive company culture within a small business.

Leadership Evolution: DISC assessments identify potential leaders and customize development paths. Understanding an individual's inclinations aids in formulating an effective leadership development strategy, crucial for effective team building and overall company culture.

Nurturing a Cohesive Company Culture in Small Business:

Encourage Flexibility: Educate employees on diverse DISC styles and promote adaptability. A culture that appreciates varied behavioral styles encourages inclusivity and understanding—integral aspects of a thriving company culture within a small business.

Foster Collaboration: DISC insights can foster collaboration and synergy among team members. Emphasize the unique value each style contributes to the team's collective triumph—essential for successful team building and cultivating a robust company culture.

Cherish Diversity: Recognize and celebrate the uniqueness of each style; no one style is superior. Valuing the array of behavioral traits within the organization underlines collaboration and understanding—essential for a thriving company culture in the context of a small business.

By integrating DISC insights into the organizational fabric, a profound and harmonious environment emerges, empowering employees and aligning them with the company's vision.

Understanding and embracing these predictable behavioral traits pave the path for a culture that nurtures success, growth, and enduring prosperity in the realm of small business.

Want to learn the steps to implement DISC in your company? Click Here.

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If you are ready to talk to one of the top-rated small business coaches centrally located in Oklahoma City, Oklahoma, in the United States, CLICK HERE to chat or CLICK HERE to call us at 405-919-9990 today!

Finding Employees For Your Small Business: How A Small Business Coach Can Help You Navigate The Current Job Market

In today's competitive job market, small business owners face significant challenges in finding and retaining quality employees, particularly for hourly positions. Many factors contribute to this difficulty, including changing workforce dynamics, shifting job preferences, and evolving societal trends. 

However, by adopting a strategic and proactive approach to recruitment, small business owners can overcome these obstacles and attract the right talent to drive their businesses forward. 

This blog will explore practical strategies and best practices for finding good employees in a challenging hiring landscape.

But first, we must understand the current job market because so many small business owners ask, "How do I find employees for my business?"

Hiring challenges faced by small business owners:

As a small business coach, I have found it crucial to comprehend the dynamics of the current job market. Several factors contribute to the shortage of employees, particularly for hourly jobs (like it or not):

1. Shifting preferences: Many job seekers now prioritize flexibility, remote work options, and work-life balance, leading to a decline in interest in traditional hourly positions.

2. Competitive market: The growth of larger corporations and the emergence of new industries have intensified competition for skilled workers.

3. Changing demographics: The aging population and the rise of the gig economy have influenced the availability of job seekers in different age groups.

Developing an Effective Recruitment Strategy:

To overcome the challenges of finding good employees, small business owners can implement the following strategies:

1. Define job requirements: Clearly articulate the skills, experience, and qualifications needed for the role to attract candidates who meet your criteria.

2. Engaging job descriptions: Craft compelling job descriptions that accurately represent the role while showcasing the unique aspects of your business. Highlight opportunities for growth and advancement to attract ambitious candidates.

3. Leveraging online platforms: Utilize various online job portals, professional networks, and social media platforms to reach a wider pool of potential candidates. LinkedIn, industry-specific forums and local job boards can be valuable resources.

4. Referral programs: Incentivize your current employees by offering rewards or bonuses to refer qualified candidates. Personal recommendations often yield high-quality applicants.

Effective Interview and Selection Processes:

The interview and selection process is critical in identifying the best candidates. Consider the following best practices:

1. Structured interviews: Develop and document a standardized interview process in your SOPs with consistent questions for all candidates. This ensures fair and objective evaluation.

2. Behavioral questions: Ask candidates to provide examples of how they have handled specific situations in their previous roles. This approach offers insights into their problem-solving skills, adaptability, and work ethic.

3. Skills assessments: Depending on the nature of the role, consider incorporating skills tests, assignments, or simulations to evaluate candidates' capabilities and potential job performance.

Creating an Attractive Workplace Culture:

Building a positive workplace culture is essential for attracting and retaining top talent. Consider these strategies:

1. Competitive compensation: Offer competitive wages and benefits packages that align with industry standards. Be open to negotiation and highlight your business's unique perks or opportunities.

2. Professional development opportunities: Emphasize ongoing training, career advancement, and skills enhancement programs to demonstrate your commitment to employee growth.

3. Employee engagement: Foster a supportive and inclusive work environment by encouraging employee feedback, recognizing achievements, and promoting work-life balance.

While finding good employees for hourly positions can be challenging in today's job market, small business owners can improve their chances by implementing effective recruitment strategies, conducting structured interviews, and creating an attractive workplace culture. 

By understanding the evolving dynamics and preferences of the job market, business owners can adapt their approach and successfully attract the talent they need to drive their businesses forward. Remember, persistence, flexibility, and a commitment to creating a positive work environment are crucial to securing and retaining quality employees.

As a small business owner, you can explore various avenues to find potential employees. Here are some effective places to look for candidates:

1. Online Job Boards: Utilize popular online job boards such as Indeed, LinkedIn Jobs, Glassdoor, and CareerBuilder. These platforms allow you to post job listings and search for candidates based on specific criteria such as location, skills, and experience.

2. Industry-Specific Websites: Many industries have dedicated job websites or forums where employers can connect with candidates who possess the desired skills and qualifications. Look for websites that cater specifically to your industry or niche.

3. Local Job Fairs and Career Events: Attend local job fairs, career expos, or industry-specific events in your area. These events provide an opportunity to meet potential candidates face-to-face and assess their suitability for your business.

4. Professional Networks and Associations: Join professional networks and associations relevant to your industry. Engage with fellow members, participate in discussions, and explore opportunities to connect with individuals who may be interested in working for your small business.

5. Social Media Platforms: Leverage the power of social media platforms such as LinkedIn, Facebook, and Twitter. Create engaging posts that highlight job openings, company culture, and employee testimonials. Encourage your network to share these posts to increase visibility.

6. Employee Referrals: Your current employees can be a valuable source for finding new talent. Implement an employee referral program where you incentivize your staff to recommend qualified candidates. Offering rewards or bonuses for successful referrals can motivate your employees to actively participate in the recruitment process.

7. Local Colleges and Universities: Establish connections with local colleges and universities that offer relevant programs or courses. Reach out to career services departments, attend career fairs on campuses, and consider offering internships or cooperative education opportunities to students.

8. Community Resources: Engage with community organizations, vocational training centers, and local workforce development agencies. These resources often have access to a pool of job seekers and can help match candidates with the skills you require.

Remember, tailoring your recruitment efforts to your specific industry, target audience, and geographical location is essential. Utilize a combination of these methods to cast a wide net and attract potential candidates who align with your business's needs and culture.

Building Relationships and Tapping into Networks:

In addition to utilizing online platforms and traditional methods, building relationships and tapping into networks can be a fruitful approach in finding good employees for your small business. Consider the following strategies:

1. Professional Associations and Chambers of Commerce: Get involved in local professional associations and chambers of commerce relevant to your industry. Attend networking events, seminars, and conferences where you can meet professionals who may be seeking new job opportunities or have connections to potential candidates.

2. Collaborate with Local Educational Institutions: Develop partnerships with local educational institutions, such as community colleges, vocational schools, and universities. Offer guest lectures, sponsor student clubs, or participate in mentorship programs. By engaging with students and faculty, you can establish connections and gain access to motivated individuals who are eager to enter the workforce.

3. Internship and Apprenticeship Programs: Create internship or apprenticeship programs that provide valuable hands-on experience to individuals looking to enter your industry. These programs can serve as a talent pipeline, allowing you to assess candidates' skills and work ethic before offering them full-time positions.

4. Alumni Networks: Reach out to alum networks of colleges and universities and tap into their resources. Many graduates actively seek job opportunities and may have a personal connection to your organization through their alma mater.

5. Professional Referral Networks: Develop relationships with professionals in your industry with extensive networks. Attend industry conferences and seminars, join online forums or LinkedIn groups, and actively engage in conversations. By building trust and rapport, these professionals may refer qualified candidates who fit your small business well.

Remember, building relationships and tapping into networks takes time and effort. Cultivate genuine connections and maintain a positive reputation within your industry. By actively participating in professional communities and leveraging existing networks, you can increase your chances of finding talented individuals who may not be actively searching for jobs but are open to new opportunities.

Conclusion 

Finding good employees for hourly positions can be a challenging task in today's job market. 

Remember, you are not alone. Most small business owners are struggling and ask the same question as you, "How do I find employees for my business?"

However, small business owners can expand their pool of potential candidates by utilizing online platforms, attending local events, leveraging personal and professional networks, and building relationships with educational institutions. 

Implement a multifaceted approach, tailor your recruitment efforts to your industry and location, and be persistent in your search. 

With dedication and strategic planning, you can find and retain quality employees who will contribute to the success of your small business.

Need help? Click Here https://www.michaeldmorrison.com/consultation

5 Practical Steps to Elevate Your Company Culture and Improve Retention

It should shock no one that we’re in the midst of a "Great Resignation." Across the country, businesses are struggling to keep their doors open due to a lack of an available workforce. 

While there are many reasons behind the number of individuals leaving their jobs post-pandemic, one aspect is clear: A company’s culture defines its personality and sets the tone for how employees interact with one another and customers. It’s a significant factor in attracting and retaining top talent and an important contributor to any company's success. 

Good company culture will offer clear direction, flexibility in work hours, autonomy over projects, personal growth opportunities, and more. Without a healthy company culture, you can all but guarantee that your team members will jump ship for another role – even one that doesn't pay as well!

So, what can you do as a business leader to fight the tide and emerge on the other side stronger? It all begins with understanding and implementing a solid company culture.

What is Company Culture?

Company culture can be defined as the behavior of people within a company. It encompasses many things, including how employees view and treat each other, their feelings towards their employer, and the overall mood within the organization. 

As well as defining an organization's personality, company culture also determines behaviors in line with its values. Culture is so influential that it can be the deciding factor between whether an employee stays or leaves. Individuals will weigh up several factors, including salary and benefits when deciding on their career path. 

But company culture isn’t just about the employees; it also determines how customers perceive your brand. When business leaders begin to realize the importance of culture to the success of their company, they set about defining and building it. As well as reflecting the personality and values of the organization, a strong corporate culture can also reflect positive brand attributes in customers’ minds.

However, while companies are largely concerned with recruiting new employees, many are overlooking one critical aspect-retaining existing ones. 

Why Is Company Culture Important?

Thriving company culture is vital to a successful business, attracting new talent, and retaining its current employees. Here are some reasons why this is the case: 

1. Company culture attracts and retains top talent.

People want to feel comfortable and safe when they come to work every day. A positive company culture is essential to creating a work environment where everyone feels valued, included, and considered. Attracting top talent is possible when your employees are happy in their position. 

A strong corporate culture can also help with recruitment by boosting your brand's appeal to prospective job candidates. Think of it this way: people want to work for companies that feel progressive, trendy, and fulfilling. 

2. Company culture encourages employee engagement.

This is a challenging subject for many business leaders who often struggle to increase employee engagement. A company culture of inclusion and respect can encourage employees to be more engaged in their work by fully investing in what they're doing. By working together collaboratively and creatively, employees are more likely to develop innovative solutions and ideas.

When an employee is working within an environment where their input is valued and heard by others in the company, it motivates them to put in extra effort for their employer. A review of studies conducted on engagement levels found that only 15% of workers were actively engaged in their jobs. The engagement rate was much lower for companies with poor company culture.

3. Company culture strengthens employee retention.

It's no secret that employee turnover can be costly to any company, costing an average of over 20% of an employee’s yearly salary in recruitment and training fees. But the actual cost to a business is not just in the money wasted on hiring new employees.

The loss of productivity, creativity, and innovation that can occur when an employee leaves a company affects the organization’s overall performance as a whole. Establishing a strong company culture will help you retain your current employees by encouraging them to be more involved and invested in their jobs. 

How Can a Company's Culture Be Considered Good?

Good company culture is one that employees want to be a part of. It rewards creativity, promotes innovation, and allows employees the freedom to express themselves without fear of being judged by colleagues or superiors. Being encouraged to voice your opinions and collaborate with others on projects will increase engagement and foster a healthy team dynamic. The following are a few ways that employees can gauge the strength of their company culture: 

Does the company seem engaged with its employees? 

Consider your own experience as an employee and think about how much appreciation you feel for your employer. Does the organization show some love by being involved with employees’ personal and professional lives? Or does it just seem like “business as usual?"

Are you paid fairly? It’s important that the salary you earn is in line with your industry and field of expertise. Not only should you be appropriately compensated for your work, but your employer should also recognize and reward your hard work and commitment to the company. A good employer should value everything you bring to the table: work ethic, creativity, unique skills-everything. 

Does a sense of community exist among employees? 

Many companies implement social programs to boost employee engagement levels and create a sense of community in the workplace. An essential part of any successful program is that it’s consistent. Participation in such initiatives should be ongoing and effortless for employees to participate.

When an employee shows their work colleagues that they truly value them, even just by saying “thank you" or offering a quick smile and nod of the head, other coworkers become more engaged in their jobs. It’s this level of appreciation that fosters a strong sense of community within an office.

Is your company’s culture unique? 

A good company culture encourages and rewards employees for taking risks, making mistakes, and realizing their potential. These types of cultures usually result in unusually high levels of employee satisfaction. 

A great example from the retail industry is that of an employee-owned company, where every worker is part owner. These companies, including Publix Super Markets and Quik Trip Inc., have ranked among the best places to work for many years because of their unique focus on providing great benefits to their employees.

Practical Steps for Boosting Company Culture

In order to create a healthy corporate culture that attracts the top talent, you need three things:  Trust, Transparency, and Authenticity. These foundational aspects of any successful organization should be at the forefront of your thinking when it comes to crafting your own high-functioning workplace environment. 

Here are five steps for fostering these elements within your business model:

1. Be open to change and welcome innovation.

Innovation (or lack of it) is usually what separates a good company from a great one. To foster a culture where employees are constantly growing and learning, you have to be open to change and ready for new ideas.

Because we all do things in our own way, different approaches to tasks can make all the difference in the world. Encourage all employees to approach their work with an open mind and a willingness to learn.

2. Create transparency between bosses and employees.

Open communication goes a long way towards creating trust in the workplace. If your company values honesty and integrity, then it has to practice what it preaches. When you tell your employees that they are free to ask you questions and speak freely about any concerns they have, this helps build rapport and trust.

But it doesn’t stop at the C-level executives. Managers, department heads, and administrative personnel all need to be on the same page as their employees when it comes to transparency of information in the office.

3. Promote adaptability within the workplace.

For a company culture to be as productive as possible, employees have to adapt quickly. When you allow your workers to learn from their mistakes and try new things without fear of reprisal, they’ll feel empowered and motivated to take on more critical challenges.

4. Empower your employees in their jobs.

Tasks are listed, discussed, and delegated. Employees are empowered to complete their assignments as they see fit. However you choose to go about it, empower your employees with the tools and knowledge they need to succeed at doing what they do best for your company. 

5. Make it a family-like environment.

Positivity breeds positivity. When your employees feel safe and loved, they’ll be motivated to continue doing good work for your company. When an employee shows their work colleagues that they truly value them, even just by saying “thank you" or offering a quick smile and nod of the head, other coworkers become more engaged in their jobs. It’s this level of appreciation that fosters a strong sense of community within an office.

Unlock the Techniques of Company Culture with Business Coaching

Whether you are a brand new startup or an existing company, company culture is critical – and it can change on a dime. If you find your organization's culture becoming stagnant or suffering from internal conflict, the problem may be on the verge of spinning out of control. One key to boosting your company culture effectively is to work with a business coach who has expertise in company culture.

Why should you hire a business coach?

A business coach can provide a third-party perspective on your company culture and help you identify blind spots that are hindering your employee retention. The past few years have revealed to many business leaders how vital company culture has become and why millennials are now conditioned to seek out employers who practice transparency. 

Business coaches can provide the expertise that will help you restructure your organization for success and give you the tools to build a strong business foundation that can support growth.

Are you ready to take your company culture to a healthy, thriving level? 

If so, schedule a call to discuss how you can improve and elevate your company culture, retain your best workers, and attract new hires that align with your values and vision. We’re ready to help you put in place the habits today that will unlock a lifetime of success tomorrow. 

Contact MDM Enterprises today at 405-919-9990. Michael Morrison and our team of experts are dedicated to helping business owners increase their sales, reduce their costs, and save their marriage by reducing the hours they work "in" their business.