Building a Company Culture: How Big the Impact is To Your Startup Business
Never underestimate the power of culture, which will bring growth to startup companies. Company culture can be a foundation for success for startups. Working in a fast-working environment can be thrilling and demanding. Tasks and decisions often must be made rapidly, while maintaining good work quality can put pressure on. The rapid-paced environment can encourage individuals to think quickly and respond faster, which will lead to effective solutions. While a sense of urgency may spark innovation and new ideas, not every individual will be the same. Some may be pressured and overwhelmed, while others thrive on urgency. The right amount of pressure will do. Hence, this type of environment can be quite stressful and will lead to burnout if the tasks are not managed effectively. It’s essential for both employees and leaders to create strategies that promote resilience, prioritize self-care, and create a supportive environment.
According to a survey conducted by AWS, 93% of startup leaders are aware of the grind culture that exists today. However, they have come to the realization that long working hours in the long run will affect their success. A founder and CEO of HotDoc, Ben Hurst, one of the leaders in the patient engagement platform, said that “You are doing the wrong thing if you are working in a way that is not self-sustaining.” He emphasizes the importance of well-being as his company grows.
The Impact on Startups
Talent Attraction and Retention
Even if the job market seems very competitive, today’s employees are not just looking for a job. They seek a workplace where they can thrive, grow and contribute in a meaningful way. A great company culture can gain interest and attract and retain many talents, and even better, the top ones. Some companies showcase their company culture as a strategy to attract talent, such as through office tours, employee spotlights, company events and behind-the-scenes photos and videos of daily office life that give a glimpse of the company’s atmosphere.
Engaged and Productive Employee
A leader with a clear company goal that is combined with great leadership skills and a positive working environment is the formula for engaging and productive employees. When these employees trust the company’s vision and values, they will work through it and together cooperate, going the extra mile for the company. Engaged employees think that their work performance matters to them and this will encourage them to provide a high quality of work. The reduced level of stress due to the company culture will also increase productivity and creativity.
Innovative and Collaborative Environment
An innovative environment requires creativity. Meanwhile, a collaborative environment requires teamwork and effective communication. When a culture encourages open communication and collaboration, this will create innovation. Being heard and making their individual opinions have value will make them more comfortable sharing ideas and questions that come to mind, which will offer a fresh perspective and solutions.
Develop Adaptable and Resilient Employee
Startups often face many new challenges and uncertainties, which can lead to prolonged periods of overthinking. Company culture will help the teams going through these struggles have a positive mindset. Helpful encouragement and an engaging environment from the teams will provide so much support for them. This will motivate them in the long run and make them think that they know that they can do the job despite their worries.
Better Customer Experience
Believe it or not, what is within the company, will affect the customer experience. It will have an impact on how the business interacts with customers. This is because customer experience reflects the face of a company. An exceptional customer service comes from a company culture that places importance on prioritizing the needs of customers. Not only that, a culture that provides a great impression, teamwork and responsiveness will retain customers and attract new customers, which comes from positive word of mouth.
Developing a culture might be daunting and worrisome to some leaders since it may affect the progression of the company if it is not cultivated properly. The key is to show great leadership examples, define the company’s values clearly, involve the team to shape the culture, be transparent, acknowledge their hard work and continue to provide growth by fostering learning and training opportunities.
