Corporate Culture – 5 Crucial Business Practices That Can Help You Grow Your Business

Are you wondering what to focus on first to drive growth within your business? It is a common misconception that the secret to business growth lies in sales techniques. Before you start looking externally, it is worth conducting a quick health check on your business and assessing the strength of your corporate culture. Your team is both the face and the driving force behind your organization, which is why culture and business success go hand in hand. Here are five vital business practices that you should be implementing.

Show Your Staff Some Love

Employees that feel valued and appreciated are generally more committed, more motivated, and more productive. They are also more likely to stay with the company longer, which saves on recruitment costs, keeps valuable expertise and experience within the team, and avoids lengthy and repetitive on-boarding procedures. Whether you distribute corporate gifts, offer flexible working terms, reward their hard work with an annual bonus, or all of the above, investing in your team members will give you the solid foundation that you require for business growth. So don’t forget to find ways to communicate to staff that you see the hard work they are doing and that you appreciate it.

Cultivate Innovation

One of the most effective ways to win people over and grow your market share is to innovate. Whether you are launching a new product, or taking a new approach to customer service, standing out from the crowd in a meaningful way should be a priority for your organization. Innovating doesn’t mean that you need to develop the latest app and completely revolutionize your industry, it merely means that you should look for methods to improve your offer, delivery, or service to add value to your customer’s lives. Driving a culture of innovation may involve scheduling time for brainstorming sessions, researching worldwide best practice in your industry, or rewarding new suggestions and brilliant ideas.

Prioritize Customer Satisfaction

Your employee’s approach to customer service and building customer relationships starts with you. What training do you provide? How do you ensure that customers get a timely response to their queries? What is your policy around returns or complaints? It is your job to embed a culture of respect, care, attention to detail, and excellent communication. This culture will allow your team to prioritize customer satisfaction, which is crucial to driving repeat business and building a solid customer base.

Stay True to Your Values

When companies expand, it is easy to lose sight of the organization’s core values. Long hours, poor onboarding, and unrealistic targets can easily cause companies to veer off track. When this occurs, not only does it have a detrimental effect on your company culture, it often hurts your bottom line. Brand authenticity is valued highly by today’s customers. You need to hold yourself accountable to these values, employ staff who align with them, and use them as a baseline for all business decisions.

Know Your Objectives

The last business practice that is crucial to driving growth is setting clear, measurable, and achievable goals for your organization. How do you know what success looks like if you haven’t laid out where you want to be in 12 months, two years and five years?

Creating a rock-solid corporate culture will give you the foundation and team that you need to grow your business. So how is your cultural health looking?