All businesses have a company culture. However, that culture is often derived from the owner’s actions! To increase your productivity, you must start cultivating healthy company culture. Read 8 Figure Firm’s blog to learn more.
What is company culture?
Company culture can be tricky to define, but we tend to think of it as the attitudes, behaviors, and interactions between employees. It can include the work environment, leadership style, company expectations, mission, vision, and values.
Essentially, your company culture is the combination of both formal and informal systems and the behaviors and values that you encourage. It’s how you and your employees feel about the work, the direction the firm is taking, and how you get the job done.
Cultivating a healthy company culture is crucial for growing your firm. When you prioritize how people feel about coming to work, you are almost guaranteed to increase your productivity, leading to higher caseloads.
Why does company culture matter?
Company culture is crucial to your firm for a few reasons. Creating a healthy culture leads to more productivity, growth, and higher employee retention. Let’s work through each of these vital benefits.
Happy employees are more likely to be more productive in their workday. An Oxford University study found that happy employees are about 13% more effective than their counterparts. So how do you create happy employees? Prioritize your company culture.
Firms with healthy company cultures tend to have increased growth – why? Because their employees are engaged with the work they’re doing. After the Great Recession, a study conducted by Gallup found that companies with engaged employees have 147% higher earnings than their competitors.
High turnover costs your firm more money than focusing on initiatives that create a better working environment. Businesses that focus on managing their culture have a 40% higher retention level than those that don’t.
How do you cultivate a healthy company culture?
Focusing on your company culture is critical to growing your firm. But how do you cultivate a beneficial culture for you, your employees, and your firm? Let’s look at some strategies you can use to build a healthy culture.
Develop Your Vision, Mission, and Values
Your vision, mission, and values are crucial to the growth of your firm and your employees. Developing these goals and ideals will become the foundation of your company culture and give employees a sense of personal responsibility.
However, you must follow through. It’s not enough to list your mission, vision, and values – you must create a workplace that exemplifies your firm’s goals. Anything less than total commitment will just seem like lip service.
Invest in Your Employees
There are many benefits to investing in your employees. When you decide to invest in their wellbeing, you will increase your retention, productivity, and overall client satisfaction. To create a better culture, invest in personal and professional development.
You may also benefit from investing in health insurance, more paid time off, and other benefits that your employees will appreciate. When your staff feels valued, they’ll be more likely to go above and beyond.
An excellent way to cultivate a positive work culture is to focus on ways that you can recognize your employees’ accomplishments. You could try giving out awards weekly or monthly, or holding team meetings to recognize employee accomplishments!
Remember – rewards don’t have to be monetary. Shouting out employees at company-wide meetings, giving certificates of a job well done, and even just writing a thank you can go a long way in improving your company culture.
It’s healthy to have boundaries, especially in the workplace. It’s crucial to create a set of standards followed throughout your firm. To set boundaries within your firm, you must value your employee, not just a worker.
Think about the experience you want your employees to have, and then brainstorm ways to create that experience. Create a set of golden rules and hold everyone to the same standard – including yourself!
Open communication is critical to a healthy culture, and that communication shouldn’t just be from the top down. Creating an open-door policy where you intentionally listen to your employees will do wonders for your culture.
However, it’s important to remember that you won’t always like what you hear. Instead of reacting with anger, try to learn from it. Your employees are your best source of what is and isn’t working, and when you know the problems, you can take steps towards solutions.
Building a culture of diversity, respect and inclusivity will help you foster a healthy culture. Ensure that all of your employees have equal opportunities and access, regardless of their gender, sexual orientation, or race.
Implement positive and inclusive signage, and use language that focuses less on one’s attributes and more on their accomplishments. A diverse workforce will help you develop new ideas to help your firm grow.
Set an Example
The last but most important way to cultivate a healthy workplace is to set an example. Your company culture starts with you, so the more you focus on setting a good example for your staff, the more likely you will reap the benefits.
Remember that every person you employ looks up to you. You can still be yourself, but it’s crucial to behave in a way that encourages a healthy work culture. Set an example, create boundaries, don’t overwork yourself, and develop your leadership skills.
Speak to an Expert
Cultivating a healthy company culture is crucial for several reasons. When you focus on building a positive culture, you will see more productivity, increased growth, and higher employee retention.
Developing your company culture is a worthwhile investment, but it can be challenging alone. With programs like ONE.Coach, we support you on your journey to eight figures in predictable yearly revenue.If you’re ready to take your law firm to the next level, register for ONE.Coach today. We’ll help you turn your law firm into a law business.