Why corporate culture matters
by Miki SaxonIt’s a no-brainer.
Retention improves the bottom line and turnover is costly, not just the obvious costs—ads, recruiters, interviewing time—but the indirect ones—slipped schedules, delayed launches, poor morale.
To retain your people—no matter the size of your company, liberal pay policy, generosity of benefits or value of the stock options, or the lack of them—you need to posses a culture that makes people want to join and stay.
It’s that simple.
It’s not very scientific, but far beyond the product, the job, and the benefits; it’s the people and the culture that create the desire in a candidate to say ‘Yes!’ to the offer. And when fundamental changes in the culture occur people say yes again…only then it’s to headhunters and recruiters.
So, if it’s culture that keeps them, where does it come from?
Culture is a reflection of the MAP (mindset, attitude, philosophy™) of the CEO.
It’s not created in a brainstorming session, although a desired culture might be discussed. Even then, if the CEO doesn’t truly support it, it’ll be a corporate non-event. Even cultures famous for ideas percolating up from its employees need the backing of the CEO in order to function.
Exceptions (both good and bad) do happen, especially as companies grow. Subcultures can flourish under a specific manager, but when that manager leaves, and the culture changes, the whole group often turns over within a few months.
Where did you find your favorite culture?
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