Let me ask you a few questions:
- Does everyone in your company know what your company’s vision is? If not everyone then how many?
- Does everyone in your company know what your company’s strategy is? If not everyone then how many?
- Does everyone in your company know who your ideal customer is? If not everyone then how many?
- Does everyone in your company have a sense of ownership in your company? If not everyone then how many?
- Does everyone in your company know what the company does? If not everyone then how many?
- Does everyone in the company have a good working knowledge of your industry and your company’s place in that industry? If not everyone then how many?
- Does everyone in your company know what yours actually is/ If not everyone then how many?
- Does everyone in your company proud of the product you’re producing/ If not everyone then how many?
- Do your associates feel that: They are growing? They are valued? Are they proud to be part of the company? They are contributing? They are challenged? They love where they work? That they are proud to be a part of your industry?
If you answer these questions honestly and you can say yes to all of them, then I guarantee that you have a great company.
If you answered these questions honestly and said no to most of them, then you have your work cut out for you…but at least you now know what you have to do. You have your work cut out for you.
If you answered these questions by saying you don’t know then I can honestly tell you that your company is in trouble. And I can also tell you that your company is having the following issues:
- A huge turnover rate
- You can’t find people to join your company
- If you do hire someone they leave in a short time
- Your employees are not engaged. They are just showing up doing the job without passion and punching out.
- You are not producing the best product you should be producing
- And no one’s having fun!
The Quality of your company culture is directly reflected in your bottom line and market dominance
So says Dr. Daren Martin in his book Architecting a Company of Owners.
In this short but very effective book, (more of a Power point really) Dr. Martin demonstrates how to engage your associates to the point that they feel like they are owners of the company.
He claims that: By changing your company’s culture you can increase your company’s net profitability by up to 70% or even 75%. Well, maybe that is some kind of hyperbole, but I can tell you this. You will make your company better by creating a culture where everyone is passionate about what your company is doing and what their role is in the company.
He goes on to say that: if company culture showed up on a profit and loss statement it would be the first data point looked at by all executives.
Now that is all from the book; but I can tell you from personal observation that most companies do not spend much time on their company’s culture or improving that culture. In fact, most companies in our industry do not spend any time on developing their company’s culture and engaging their employees to the point of making them feel like they are passionate owners of the company.
And it shows…now more than ever when we are having such a hard time finding the right people, or any people for that matter to fill our positions.
Low employee engagement is the biggest indicator that a company’s culture is broken.
Here are some things you can start doing right now… to reset and improve your company’s culture
- Define your company’s strategy and mission
- Talk to your employees. Get out on the floor, let them see you, let them ask you questions. Engage with them.
- Have one on one talk with them. If the company is a large one then train your managers and supervisors to have good and effective one on ones with them.
- Have an effective performance review with them. Make sure during these reviews you show them their future path. You find out what they would like to do in your company and together set a path to that goal. Show them their future.
- Make sure that every employee knows about your industry, your product and your company’s position in that industry.
- Show them your customers’ end products. Demonstrate to them how your product is important and their work on your product is important.
- Make them feel that they matter.
- Make them feel that they are an important part of your company, your industry, and the world. That they are significant contributors.
- Hold monthly all hands meetings to let them know how the company is doing and how they as “owners are doing.
In the culture it is all about caring and compassion and communication. If you can create a great company culture, you will create a GREAT company. It’s only common sense.