Corporate culture is one of the crucial elements of a company. Besides their mission statement and business objectives, companies are often defined by their workplace culture. Whether companies describe their office environments to new recruits or reiterate what makes them great to current workers as a morale booster, companies should consider how all aspects of the workplace are impacted by their corporate culture, including their incentives.
As companies work on shaping their corporate cultures, they need to determine how they present it, especially to job seekers. Because looking into a firm’s corporate culture is one way applicants evaluate how they will fit into the company, employers should try to specify what their cultures entail and what they hold most dear, TLNT suggested. If companies prize professional development, they could emphasize learning and training programs and plans in their corporate culture description. They could attract workers who rank career advancement and development as a top priority, which could help companies land star workers.
How corporate culture could be influenced by incentives
With the various ways companies can attract new and talented employees, companies could also try to incorporate incentives in creating a definitive corporate culture.
Employers may ask themselves what do incentives have to do with corporate culture? As incentives are critical in helping firms meet their revenue goals and ultimately their mission statements, employers could use incentives to better form their corporate cultures. The incentives companies give out to workers are often a reflection of what the firm values and which actions are deserving of rewards. For example, employers could reward and recognize employees who are outstanding at customer service. Tracking sales effectiveness metrics like customer retention rate or churn among clients could guide companies in achieving their own business objectives.
Another example is in giving workers team-based rewards that could foster a cooperative work environment that is built on the philosophy that workers should collaborate and share ideas to improve innovation in the company. These actions in turn aid in workers understanding what the company stands for.
Providing workers with the incentives needed to boost productivity is just one step in fulfilling the company’s goals.
When done right, incentive plans could promote a positive organizational culture that strives to celebrate employee and corporate achievements. These rewards combined with a thriving corporate culture could help companies sustain revenue growth, keep workers satisfied and ensure the company accomplishes its long-term goals.