In the past, company culture was not one of the main focus of any business. It was just left to develop and grow organically on its own. That might have worked decades ago but the business world is always in a constant state of change. It’s a whole different story in today’s highly competitive market. This is not just a competition for the customers’ hard-earned money but a competition for attracting high performers to your team. Even that aspect of running a company has changed. It is no longer enough to offer higher salaries and better benefits to entice the best of the best. You have to offer something more. That’s where having a good company culture comes in.
46% of new hires either quit or are fired within the first 18 months of being hired. The hiring and training process costs the company time and money. If almost half of those new team members quit within less than a year then you are losing money. Why do they quit in the first place? The most common reason is cultural mismatch. How crises are being handled. How open communication is. How feedback is given. All this and more are what contributes to how good your company culture is. If you’re interested in building one that will attract and retain awesome team members, then check out the different types of company culture.
The Adhocracy Company Culture
A company with an adhocracy culture operates without any formal hierarchy. An adhocracy company culture prioritises creative thinking and innovation. The employees are encouraged to keep on moving and take risks. One big advantage of this type of culture is that team members have the complete freedom to let their genius be as creative as possible. On the other hand, one disadvantage is the lack of planning. The company tends to handle issues as they come up instead of coming up with plans to avoid them in the first place.
The Customer-Centric Company Culture
A customer-centric company culture is one that is largely focused on the customers. Employees, even those who don’t interact with customers, are encouraged to see everything from the customer’s point of view and make their decisions around it. If you want your company to be known for being customer friendly and delivers exceptional customer service, then the Customer-Centric Company Culture is worth looking into.
The Horizontal Company Culture
Also known as the Free Spirit Culture, the Horizontal Company Culture is common among new or startup companies. Every team member is expected to collaborate and pitch in for the company’s success. Titles are just titles in this culture. Everyone can communicate freely and they are usually done across the desk instead of through emails and other digital means. Though communication is great in this type of culture, one weakness it has is the lack of direction.