The importance of company culture

Have you ever really thought about your company's culture from the perspective of your employees? As the business owner you probably don't hear when employees are unhappy or tensions rise because you're the boss. It may be advantageous to take a step back from your daily routines and observe your staff, have private conversations with a few employees and begin to get a feel for the true culture of your company. You might be surprised that what you perceive as a good culture might not be reality for those who work for you.

The recent economic issues have forced many companies to tighten budgets, freeze payrolls and in some instances take away medical benefits. Naturally, company culture in most businesses has taken a hit as everyone has had to make adjustments.

Even with all the negativity going on in our world, there are still businesses out there who have been able to maintain a positive culture, which has resulted in increased revenue - even in a bad economy. In most cases, you'll find that the companies who have survived the economy best are the ones who have used the people, product and values triangle to make up their foundation.

• People - hire and develop great people who believe in your mission and vision and who fit your company's culture
• Product - obviously there must be an emphasis on the value of the product/service your company provides in order to be successful
• Values - Create a set of values that you believe strongly in and that your employees are in alignment with

Bottom line - when your employees are happy and believe in your company, staff and product/service, they are more likely to work harder, push for results and help increase revenue.

By following these simple guidelines, your company can be on the way to creating a culture that everyone wants to be part of and something that you can be proud of establishing.

New Economy Changes the Employee/Employer Relationship

As many companies change their strategies to meet an uncertain economy, employees have began to feel the burden. The recession has caused businesses to cut budgets, decrease staff and increase workload. As a result, employees have been forced to work longer days with little to no reward for their extra efforts - and in some cases have taken a pay cut. Before you know it, you've lost some of your best employees to companies who provide a better balance between work and personal life.

The cost to hire a new employee and get them up to speed on the position, business and industry can add up. Obviously, a better strategy is to keep the staff you have. The key is to make sure there is a balanced give/take relationship between the employee and employer. When employees begin to feel that they are giving significantly more than they are getting - problems arise. Productivity decreases, a negative environment is created and discontent spreads through the company.

Instead of eating at restaurants, going to bars or taking elaborate vacations, people have moved towards spending their personal time at home (also referred to as a staycation). For most of us, the days of extravagant spending are gone, which has decreased our need or desire to work long hours in order to afford such luxuries. As a result, today's employees are seeking that balance between how much they work and how much personal time they have.

Employees realize that the current economic environment has been tough on business owners, and in most cases their dissatisfaction can be remedied without any increase in salary or benefits. They know the job market is competitive and would rather not be in the position of looking for a new job. If you're a business owner who finds yourself in this predicament, think about how each of your employees time can be spent working on things that will make a real impact on the bottom line and not just working on busy projects that don't add real value to your company's objectives.

What Golfers and Business Owners Have in Common

USA Today had an article in yesterday's paper about Tiger Woods and how he recently fired his swing coach and is attempting to go it alone with using video. While video will let him see what is wrong with his swing, it won't fix the problem. The way most golfers fix the problem is by having a coach to guide them through what they need to change. The article cited that, "The vast majority of elite golfers rely to some extent on a swing coach." It went on to say that, "The recreational player may wonder why a great golfer would need a teacher. Yet, for the last century the best players usually have had them, and now the average players have them."

The article got me to thinking. Isn't the same true for business owners? Did the best golfers in the world get to be the best because they had coaches helping and guiding them? Couldn't the same be true for businesses? I think it is safe to say that when a business is struggling, the owner knows there is a problem. The question then becomes, do they know how to fix the issue?

A business coach can not only help to diagnose the problem, or the swing in Tiger's case, but they can also use their knowledge and experience to help the business owner to solve it. The important thing to note is that both the business owner and the coach need to agree on how to move forward with the solution.

Another aspect where a coach can be important is helping the "player" or business owner develop confidence. When the business owners begins to see things changing for the better, they start to have more confidence in the business and themselves.

Why do most golfers have swing coaches? The answer is simple. They want to be better golfers and have set goals for themselves. In order to reach those they hire a coach to help them get there. If you're a business owner who wants your business to reach a new level, consider hiring a business coach.