Amidst a recession and weak demand for products and services, business owners must reposition themselves for near-term survival and long-term prosperity in 2025. Introducing change through new strategic initiatives is imperative.
However, a poor company culture can impede the implementation of these strategies. As Peter Drucker astutely observed, “Culture eats strategy for breakfast.” Culture is not a fleeting trend but rather the lifeblood of any organisation, an entity that craves constant attention and nurturing. Neglect it, and you risk seeing your business falter. Your team is the driving force, the engine that propels you forward.
In New Zealand’s tight labour market over the past few years, small business owners have faced challenges in fostering a strong culture within their organisations, namely:
- Hiring challenges due to limited skilled candidates. Employers have overlooked poor behaviour to retain skilled employees.
- Increased turnover disrupts team cohesion.
- Limited time and expertise in small businesses to focus on work culture and manage it effectively.
Now that the labour market has turned, it is easier for SMEs to find people. So, how do you construct a flourishing organisational culture?
1. Thoughtful Hiring
- Align values rather than solely focusing on skills.
- Select the right individuals for the organisation’s journey.
2. Clarity as a Cornerstone
- Establish clear expectations from the onset.
- Define the parameters of success.
3. Igniting Engagement
- Transform work from a chore to a fulfilling experience.
- Tools like “Working Genius” can assist in this transformation.
4. Embracing the Millennial Movement
- Comprehend their unique needs as they represent the future workforce.
The Importance of Expectations
- Clear expectations create an environment where individuals know what is expected of them and how their contributions impact the organisation’s success.
- When expectations are aligned, teams can collaborate effectively, fostering a sense of purpose and direction.
- Regular communication regarding expectations ensures that employees remain on track and motivated.
More ‘responsibility’ can boost an employee’s engagement and ultimately require less supervision.
Fostering a strong company culture is crucial for the success of any organisation. By carefully selecting employees who align with the company’s values, setting clear expectations, igniting employee engagement, and embracing the unique needs of the millennial workforce, businesses can create a positive and productive work environment that drives innovation, collaboration, and long-term prosperity.