The Startup Life is a fast-moving one! The journey from idea conception to implementation may be gradual, but it is only a matter of time before the business hits the road. Hence, creating a positive culture from the very start is beneficial to any company's success. It gives the company a good edge to define how the business interacts with employees, customers, and clients.
Startups are usually young or new companies just entering the market and are started by one or a few individuals called founders or entrepreneurs. A startup company can leverage its new beginning to define its culture, thereby setting the tone for its talent recruitment, operational processes, retention practices, and drive for productivity.
As the startup begins to craft its vision, mission, or value propositions, it is beneficial to outline the values they want to resonate with their company. Providing perks or benefits may be misconstrued as what creates culture; it is not usually what sustains the culture as it may not outlast itself.
So, what's the secret to building a positive culture as a Startup company? Here are four essential elements:
1. People, People, and People: Having a people-first mindset helps create a unique value for your company. People in this regard can be Employees, Customers, or Clients. It can drive where your priorities lie as a startup business and help provide the best experience for the people in your value chain.
2. Personality: What unique values do you want to be known for? Define what should separate you from the pack and how you want to be perceived by employees and customers.
3. Authenticity: Be true to yourself and your stakeholders! Practice what you preach! Being realistic about who you are, your present situation, and the future you want helps you create a culture that works. Startup companies typically start with lean resources and limited funds, creating pressure to achieve the best with such limited resources. Do not fall prey to overestimating yourself, be authentic!
4. Relationships: Establish relationships that offer respect, celebrations, collaborations, and a sense of community. These bonds foster working together to achieve a common goal. The benefit of positive work relationships often filters to the customers/clients or vendors as an excellent service experience.
What do talents want? – A culture that works!
Startup businesses understand that they cannot compete with large corporations for talent, especially concerning salary compensation. However, they can offer intangible and reliable ways to help them attract top talent and promote them as employers of choice. Establishing a strong culture is one sure way that startups can attract the talent they desire. According to Glassdoor's Mission & Culture survey conducted in June 2019, 77% of employees from four countries (USA, UK, France, and Germany) would consider the company's culture before applying for a job, while 65% of employees between ages 18 and 34 will likely place culture above salary.
Where to start? - Values!
Transparency, happiness, feeling valued, fairness and respect, meaningful work, and a sense of accomplishment are top approaches for retaining and engaging talents in high culture-centered companies. These are subtle practices that are intrinsic to employees in the workplace. On the other hand, practices like poor communication, office politicking, micromanagement, discrimination, and unhealthy competition amongst employees signify a workplace culture that can hinder the success of a startup. Building and nurturing a positive company culture is the core of a good business strategy. Successful businesses with great cultures understand the need to cultivate the overall work experience of their employees; it is what makes their company unique and makes it a great place to work.
At Blingy, as a tech startup business, we value the total well-being of our diverse talents. We are committed to creating an inclusive and supportive work environment, enabling them to balance work and personal lives. Our culture reflects a positive and healthy atmosphere where our talents can achieve career success. Our work relationships exude respect and teamwork, and our mantra is "work hard and play hard."
For startups, the impact of a great culture on employee productivity and retention is exponential. Employees dedicate their time and creativity to companies with great cultures and are committed to making their employees happy and satisfied.
They say happy employees are productive and loyal employees!