Business growth is always going to be the ultimate aim of any company. No matter where you are and how well you’re doing now, there will always be ways to improve that. Company valuation plays a big part in that, especially corporate culture. A healthy culture can inspire people, drive them to success, and turn negatives into positives. An unhealthy one needs to change fast, and skilled consultants can help with that.
What Is Corporate Culture?
Every company operates in line with some form of company culture. These are the principles and approaches taken to ensure that the organization meets its goals and achieves desired results. The idea is that management will help to reinforce the culture in the way they interact with employees and the way they lead. Every manager leads by example, and those below them take their cues from the corporate attitude to company relationships, strategy meetings, and more. You have the choice to create a culture that’s positive and fulfilling with a high-performance mindset or one that’s low-performance and potentially toxic. The high-performance route takes work, but it can end up as the better option for business growth.
10 Traits Of A High-Performance Corporate Culture
1) Goal setting and alignment
This one should go without saying for any company. Without strong goals to aim for and a clear plan on how to get there, you can’t expect to see much growth. The problem is that too many companies leave the goal setting with upper management and shareholders and don’t involve those in lower-level positions. Get everyone working toward the same goal.
2) Great communication
One way to ensure that the whole team is indeed working toward that shared goal is to improve company communication. One-way systems aren’t good for anyone. Upper management needs to be heard and understood clearly on all levels, but also to listen to the needs and concerns of others. Feedback and constructive criticism isn’t a bad thing.
3) Employee empowerment
Communication and a better relationship with employees can also lead to a sense of empowerment. Those who feel their voices have been heard and who see a response to feedback will feel like they matter. Managers should always ensure that employees are happy in their position and appreciated, whether that’s with verbal praise or physical rewards.
4) Strong collaborative efforts
On top of that, improvements in communication and the empowerment of employees can also encourage collaborative efforts. Every department has its purpose and every team member has a role to play. When those teams work together on projects and determine each other’s strengths and weaknesses, it can be powerful.
5) Respect
These cultures with strong communication and collaborative efforts are also generally built on respect. It’s essential that employees respect their superiors and project leaders to get ahead. At the same time, those on top need to respect the rights and efforts of those lower down the ladder. Remember the old saying to send the elevator back down after making it to the top.
6) Transparency and humility
Respect is essential, but managers can’t let it go to their heads. They have to be completely aware of their strengths and weaknesses at all times and strong enough to admit mistakes when strategies fail. Humility is a strong characteristic that draws in allies. Transparency builds trust, which can only increase respect.
7) A desire to improve
When the worst happens and a plan doesn’t go well, admitting mistakes is just the start. There has to be a drive to improve and find solutions. That desire also has to run from top to bottom in the organization. When that happens, you’re back to that collaborative environment with plenty of respect and the ability to work towards new shared goals.
8) The ability to bounce back
Similarly, the best corporate cultures show resiliency in these tough times. Making new plans for improvements and growth is essential, and companies can’t wallow in their mistakes. They own what happened, refuse to throw people under the bus and focus on the future.
9) Innovative ideas
That renewed focus on the future means the ability to come up with innovative ideas. Insanity is doing the same thing over and over and expecting different results. So, there’s strength in trying new things and thinking outside the box, even if it doesn’t work at first.
10) Effective leadership
Finally, what this all comes down to is effective leadership. None of this is possible without a captain steering the ship with the respect and collaborative efforts of his shipmates. Managers can’t be afraid to be leaders and lay down the law while also being supportive and friendly members of the team. There’s room for both.
Why Is The High-Performance Route So Beneficial?
Working with a growth consultant brings specialized expertise in this field. You can learn how to improve your skills to maintain an effective, high-performance culture. These professionals work through high-end consultancy sessions and 1-day workshops to impart wisdom on all the ways you can improve your company valuation and profits. Company culture may be one small aspect of these business growth strategies, but it’s also important.
This approach can have a lot of benefits for companies moving forward with long-term goals and major projects. The most significant of these has to be the improvement in productivity and success rates. Companies that take the time, to be honest about their successes and failures and to learn from them are more likely to grow. They’ll acknowledge problems, adapt, and come back stronger. They know that failure is not a sign of weakness.
A high-performance route also has a lot of benefits for your staff. Making profits is important for longevity, but you’re nothing without your staff and their efforts. Companies that work on communicating with employees across different departments and levels can improve engagement and productivity levels. Listening to feedback and rewarding successes can also improve morale, which, in turn, increases retention rates.
Hire Professional Consultants To Improve Your Revenue Growth
Company culture is just one part of a much bigger strategy for improving business growth. However, it’s more influential than some new companies realize. Once you build a strong identity as a company and work on shifting into a high-performance culture, it can have a knock-on effect on your company’s productivity, ethos, and profits. So, make an appointment with a consultant to set up a program and get your team heading in the right direction.