4 mistakes that are killing your company culture
Research has found that companies that manage their culture are more profitable than those that do not. However – crafting a robust and vibrant culture isn’t always straightforward.
There are several common pitfalls. Here are four critical mistakes that can spell doom for your business culture.
1. Failing to recognise and reward
Acknowledgement is a potent motivator.
Social scientist and New York Times bestselling author Dan Ariely found that a lack of acknowledgement of a job well done, and more importantly, dismissal of a person’s work, has a crushing effect on workers.
His study found that without reward and recognition, employees may feel undervalued, leading to a decline in productivity and motivation. But with it, employees are even willing to work harder for less pay.
Cultivate a culture that doesn’t just acknowledge and reward hard work through bonuses or promotions (as these may be bi-yearly or annual), but create systems to celebrate accomplishments regularly.
This can be done by reminding managers to acknowledge a job well done, particularly during quarterly or monthly reviews.
2. Neglecting professional development
A stagnant workplace can be detrimental to office culture.
Studies show that job satisfaction in the UK is the lowest in Europe. A quarter of employees indicated they don’t have the opportunity to grow in their careers, contributing to a lack of job satisfaction.
Failing to invest in professional development can lead to stagnation and disengagement among your workforce.
Again, most companies offer annual performance reviews to systemically solve this. However, there is much more that can be done.
Prioritise providing your employees with regular learning and development opportunities, whether via monthly lunch-and-learn sessions, providing a learning budget, or even providing career coaching services.
Besides introducing these benefits, make sure your employees are aware of, and incentivised to use them. In our recent webinar with Steven Bartlett, he mentioned that this starts from the top - when they introduced a therapist, his senior executives were the first to lead the way by taking part in regular sessions.
3. Underestimating the importance of work-life balance
Employees are human beings – not machines. They need time to rest, recharge and engage in activities outside of work.
Glamourising hustle culture and being ‘always-on’ has a tremendous impact on the health and wellbeing of employees, and research backs this up.
Furthermore, ignoring the significance of a healthy work-life balance can lead to burn-out and a mass exodus of some of the most valuable talent from your organisation. One 2022 Deloitte study even found that 70% of C-level executives are seriously considering quitting their jobs for one that better supports their wellbeing.
The good news is that more and more companies are taking steps to acknowledge how wellbeing is a business imperative. The recent trend of more companies employing Chief Wellness Officers signals how it has moved from one of the functions under HR to a business priority.
But beyond the changes from the top, other ways to bake in ample rest and recovery for your employees include embracing flexible work policies and encouraging employees to take the time off they need to maintain a harmonious balance between their professional and personal lives.
Some real-life examples of how companies have acted on this include What3Words, for instance, who have allowed employees to take two additional days off if they aren’t feeling their best.
4. Neglecting office culture
People spend more than 60% of their time at work, so it is important they enjoy working with their colleagues.
Research shows that co-workers who get together for group or team sports form stronger bonds, which leads to more effective collaboration on the job.
One of the key ways to develop good culture is by having communities outside of work, where colleagues can get to know each other as humans and forge greater trust.
Nurturing a robust and thriving culture necessitates a deliberate and strategic approach.
By steering clear of these four mistakes, you can cultivate an office environment that not only supports the well-being of your employees but also paves the way for your organisation’s long-term triumph.
Supplied by REBA Associate Member, YuLife
YuLife is the first digital life insurance provider on a mission to inspire life.
