10 tips for building and maintaining a great company culture (and why it matters)

November 07, 2024 | Insurance 101

Business competition today is fierce. Consequently, creating and sustaining a strong company culture is more than just a perk—it's a necessity. A positive, thriving work environment can attract and retain top talent, boost productivity, and foster a sense of belonging among your team members.

But great organizational cultures don’t just happen. Building one requires intentionality and dedication, and maintaining it takes ongoing effort.

In this article, we'll explore why positive culture matters and provide tips to help you create and nurture a work environment that truly sets your organization apart.

Smiling people gather together in an office

Company culture matters—to your employees and customers

When you consider the importance of a positive work environment, a valid question is, “What is company culture?” Basically, it’s the values, beliefs, attitudes, and behaviors that shape your internal environment and interactions among employees. You might say it’s your company’s personality. 

At biBerk, we know from experience that a positive culture, where employees feel valued, supported, and empowered, translates into increased job satisfaction, improved morale, and reduced turnover, creating a stable and motivated workforce. When your people are genuinely invested in the company's success, they’re more likely to go above and beyond, leading to enhanced productivity and superior performance.

Keep in mind that the positive impact of a thriving company culture extends beyond your organization and directly benefits your customers or clients. Engaged and enthusiastic employees project a sense of passion and commitment that resonates with them, creating trust and loyalty. In addition, a culture that emphasizes teamwork, innovation, and continuous improvement is more likely to produce exceptional products or services, further enhancing the customer experience. 

In essence, when you improve your company culture, it creates a ripple effect, positively impacting both internal and external stakeholders. To optimize your culture for employee satisfaction and company success, take the steps below.

1. Define your values and mission

Clearly defined values and a compelling mission are the foundation of a great company culture. Your core principles should guide your organization, shaping the way employees interact, make decisions, and approach their work. 

Take the time to document the values that are most important to your company, and ensure that your mission statement reflects your purpose and long-term goals. When employees understand and connect with these guiding principles, they create a sense of unity and shared purpose, strengthening the cultural fabric of your organization.

2. Lead by example

As a business owner or decision-maker, your actions speak louder than words. If you want to build a culture of respect, integrity, and collaboration, embody those values in your behavior. 

Treat your employees fairly, encourage open communication and feedback, and express appreciation for their efforts. By setting a positive example, you inspire others to follow suit, fostering a culture where everyone feels valued and empowered.

3. Hire for cultural fit

When hiring new employees, look beyond a candidate’s skills and experience. Consider whether their values and personality are a good fit for your company culture. Someone who has the education and work history you’re looking for but doesn't fit in with your team can disrupt the positive chemistry you've worked hard to build. 

Take the time to get to know potential hires on a personal level, and involve current employees in the interview process. Their feedback can help you assess a candidate’s compatibility with the team.

4. Promote open communication

Effective communication is the lifeblood of any successful organization and essential to your team members feeling comfortable sharing their ideas, concerns, and feedback. Encourage open dialog through team meetings, one-on-one check-ins, and open-door policies. Consider utilizing tools that enable fast, seamless communication and collaboration across different teams and departments. By fostering free-flowing communication, you empower your employees to contribute their unique perspectives, which benefits them and your company.

5. Celebrate success and recognize achievements

Acknowledging employees' contributions to your company’s success is crucial for building a positive and motivating company culture. Remember to celebrate milestones, recognize outstanding achievements, and express gratitude for their hard work. You can do that through everything from formal recognition programs to small gestures like handwritten thank-you notes. 

When employees feel valued and appreciated, it reinforces their sense of belonging and encourages them to keep giving their best.

6. Prioritize employee well-being

A healthy and happy workforce is a productive one. Invest in your employees' wellness by offering a generous benefits package, including health insurance, paid time off, and flexible work arrangements. 

Encourage work-life balance and provide opportunities for professional development and growth. Some companies find it valuable to offer perks like yoga classes or mindfulness workshops to promote mental and physical health.

7. Encourage teamwork

Break down the barriers that can develop between departments or groups, and foster a collaborative environment where employees feel empowered to work together toward common goals. Encourage cross-functional collaboration, team-building activities, and knowledge-sharing initiatives. 

Provide opportunities for employees to learn from each other and develop their skills. Promoting teamwork and collaboration creates a sense of camaraderie and shared responsibility, boosting morale and productivity.

8. Embrace diversity and inclusion

A diverse and inclusive workplace is a rich and vibrant one. Embrace the unique perspectives and experiences of your employees, and foster a culture where everyone feels respected and valued, regardless of their background. 

Promote diversity in hiring and promotion practices and create opportunities for employees to share their cultural heritage and traditions. Embracing diversity and inclusion creates a welcoming and supportive environment where everyone can thrive.

9. Solicit feedback

Gathering and reviewing employee feedback is essential to maintaining a strong company culture. Conduct surveys, hold focus groups, and encourage open dialogue about the workplace environment. 

Pay attention to both positive and negative feedback, and take action to address any concerns or areas for improvement. By actively seeking and responding to employee feedback, you demonstrate your commitment to their well-being and create a culture of continuous improvement.

10. Continually evolve

Company culture shouldn’t be static. It has to evolve as your company grows and changes. It’s crucial to be open to new ideas, embrace change, and continuously evaluate your cultural standards. 

Stay on top of industry trends and best practices, and be willing to experiment and innovate. Remaining flexible and adaptable helps ensure that your company culture remains relevant and supportive regardless of the challenges your company faces.

Make your business an inviting place to work

As a business owner, it’s critical to understand the impact of culture in business. Building and maintaining a positive work environment requires ongoing effort and dedication. But by following the recommendations above, you can improve your company culture, increase employee satisfaction, strengthen relationships with your customers or clients, and improve your company’s performance. 

Check out more helpful resources for business owners from biBerk.