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5 Components of a Great Corporate Culture

GoCardless
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Last editedJul 20212 min read

How do your employees interact with management? Does your workplace offer a sense of community and collaboration? There are many types of business culture, but the strongest create a tight knit, motivated workforce. So, what is corporate culture, and why is it so important? We’ll give a few company culture examples below, along with the most important components.

What is corporate culture?

Corporate culture involves a company’s interpersonal interactions, driven by a shared set of beliefs or employee behaviour. There are unlimited business culture examples, as every workplace has its own identity and values. You can’t force a company culture; it’s something that’s developed over time to create a sense of community in the office.

A positive corporate culture offers numerous benefits, including greater workplace satisfaction and a reduction in employee turnover.

Key components of corporate culture

Here are five of the main characteristics seen in positive company culture examples.

1. Sense of community

People sit at the heart of all types of business culture. You can’t build a strong culture without including employees that share core values, which is why this concept is built right into the recruitment process for many businesses. While it’s important to hire top talent, you should also find employees who are committed to the same values. Bringing together a team of like-minded individuals is a great way to create a stronger company culture.

Apart from the recruitment process, community-minded business culture examples could include hosting a regular schedule of social activities, office traditions, and employee recognition ceremonies. Create a sense of camaraderie by letting colleagues get to know one another outside of the office, for a stronger community within.

2. Core values

We’ve already mentioned a shared set of values as part of community building, but this aspect of company culture is worth repeating. As you start your business, you should define its values right from the beginning. Brainstorm a set of guiding principles and communicate them with all team members, as this will form the very foundations of your corporate culture.

So, what do values look like? They could cover anything from professional standards to sustainability – it’s up to you. Don’t worry about breaking the mould with your values. You can keep your values basic, so long as they’re ideals your team truly believes in.

3. Trust in management

Another facet of a great corporate culture is trust. This is something that has to be earned with consistency in thought and actions. In other words, make sure your leaders’ words match their actions. Employees are more likely to feel like part of the team when they can trust management, which has a positive knock-on effect. With an atmosphere of trust, you’ll also boost workplace satisfaction, employee retention, and motivation to go the extra mile.

As management, you can also show employees you trust them to do their jobs adequately. Offering flexible working schedules with a good work-life balance is one example. When employees feel trusted to meet business goals without being micromanaged, they’re more likely to strive for success.

4. Open architecture

Don’t overlook the importance of your physical surroundings in creating a positive corporate culture. Open-air meeting spaces and central atriums allow colleagues to greet one another and take part in daily interactions. This is particularly significant with a workforce that’s going increasingly remote. On the days you do spend within an office setting, design your workspace to allow for easier collaboration.

5. Shared vision

Vision is similar to values, but there are a few key differences between the two. Craft a strong vision or mission statement that outlines your business goals and strategies. This should be something that employees and management can look at together, ensuring all actions are purposeful.

A shared narrative can also feed into this vision. When onboarding new employees, make sure they know how the company started, adding a human touch to the corporate culture. People want to feel like they’re part of an ongoing journey, contributing to the narrative in their own special ways.

By taking the time to hone these five areas, you’ll create a stronger culture and improved employee experience.

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