How would you define corporate culture? Do you think your franchise or small business has one? If you’re unsure, the answer is probably no. But why is it important? Simply stated, a good corporate culture can set the tone for employee morale, risks, rewards, customer service and whether or not productivity and profitability rise. Some studies have shown that less than 10 percent of all businesses have a clearly defined corporate culture. So, in this week’s blog edition, we’re going to tackle the subject of how to create, build and sustain a corporate culture of your own.
Perhaps the best way to get started understanding corporate culture begins with outlining one of the best examples. You know, a company that “got it right.” Take Southwest Airlines, for starters. They just posted a record profit of $584 million. And you might know them best for the antics of their fun-loving flight attendants. These are the employees who improvise pre-flight instructions into an on-the-spot rap battle. Where do you suppose they got permission to act like this? It doesn’t sound very corporate, does it? But it does sound very corporate culture.
The company found a niche that worked for their entire system and the way they conduct business. They built a reputation on their creed and went on to rank in the top-five of Forbes “Most Admired Companies” year after year.
To create a corporate culture that works, it’s important to foster creativity in discovering who you are, who your employees are, who your customers are and what your unique culture could one day become.
Building a corporate culture begins with assessments. Don’t be afraid to do a little internal research. Ask for group participation and make it a team-building exercise. It can start with a simple phrase such as, “Team, what do we want to be as a business and how will we achieve it?” Explore your core values and share input with one another. It’s likely you’ll find out intricate details about your operation you had never before considered.
Another tip? Find—and make sure you retain—great employees. Good employees are easy to find. Great ones are few and far in between. Invest in your workforce and it will pay regular dividends. Foster open communication (we’ve talked about this before!). Make sure as an owner that you set an example. A good leader can be tough, funny and fair all at the same time. And don’t forget to have fun along the way. Your business can have whatever corporate culture it chooses, be it good, bad or indifferent. Just know that two of those three choices are harmful to your bottom line while the other leads to the coveted success you yearn for daily.
As a franchisor, you’ll want to know which existing and potential franchisees best fit your business concept. And Proven Match is the proven solution in determining those factors. Obtain the ability to categorize your best existing franchisees for future validation efforts. And find the potential franchisees still engaged in the discovery process to add to your team. Through our proven behavioral assessment techniques, predictive analysis becomes predictive success for your franchise concept. If you’re ready to show your leadership by getting started, give us a call and we’ll put you on the path to a more productive year in 2016.