234Finance: Promoting a Culture That Boosts Growth

Do Nigerian companies really have a company culture?

Maybe a few but sadly, a large percentage of private firms do not actually understand this subject. Company culture is the persona of a company. It expresses the environment in which employees work and activate a variety of elements including the company mission, value, ethics, expectations, and goals. For instance, some companies have a team-based culture, which engages the participation of the employees on all levels, while others have more formal management styles.

A good example is Google, although it has grown significantly over the years, the company still feels similar to a small company with an informal atmosphere. At lunchtime, almost everyone eats in the office café, sitting at any table and enjoying conversations with other employees from different teams. Also, every employee is a hands-on contributor. No one hesitates to pose questions directly to Larry or Sergey during the weekly TGIF meetings.

Company culture is an integral part of driving business growth and it can’t be relegated to the background. When you invest in your employees and their welfare, they align their personal vision with your company objectives and will always be willing to invest in the organisation. Here are some ideas on how to build a growth-inclined company culture:

Promote Alignment

Encourage employees to align their personal goals with the organisation’s vision. This helps to ensure that the company culture is key to your employees’ productivity, because they tend to enjoy the job when their needs and values are consistent with those in the workplace. This will motivate them to align personal goals with the company’s vision and also develop better relationships with co-workers.

Encourage Teamwork

Let your employees outline their goals as a team. When the management sets targets, employees take it simply as something to check off their to-do list. On the flip side, when each team within the organisation develops collective goals, they own it and take responsibility for promoting the progress of the organisation. Rather than driving the performance review of your employees as the CEO, your employees become self-motivated because they are inclined towards evaluating their performance and reflecting on how they can improve.

Allow Opinions

Give everyone a voice and build a positive perception about failure.  Employees love it when they have a voice in the organisation. As a CEO, you can create a time to regularly share information, give feedback and resolve challenges that affect productivity. Also, some employees are buzzing with ideas but they may not take initiative because they’re afraid of failing. It is imperative to still encourage them even when they try and fail. Rather, than get discouraged, celebrate initiative, and then brainstorm on ways to get it right the next time.

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