One of the most important aspects of one’s professional life is workplace culture. The company's environment, or “mood”, can greatly affect your experience and productivity. Company culture, often a little difficult to articulate, is the attitudes and behaviour that drive companies and employees, it includes decision making, leadership, and communication, ethics, and values; it’s how we work together.
There are several indicators to consider when assessing, not just of a company or workplace, but the way members interact and their satisfaction at work: employee turnover, clear company values, comfortable workspace, workplace involvement, transparency, diversity, recognition, accessible, honest, authentic leaders, and professional development opportunities.
Employee turnover is the measurement of the number of employees who leave a company during a specified period. A high employee turnover could be an indicator of flaws in the company, such as lack of opportunity for growth or development, overworked staff, resent towards boss or management, or an overall toxic work environment. While low employee turnover is the goal, companies should focus on attaining a typical or expected rate, which can change depending on the industry, job type, company size, region, and more, and that rate is very rarely zero.
The values of a company are the pillars of all its actions. In many ways, they define the nature of the company, its strategies, and priorities. They act as the major driving force for a job well done, that makes everyone feel part of the company and work together for the same goals and objectives. Fundamentally, these values are articulated and communicated throughout the organization to promote company performance and success. The values at Rhino Ventures Asia inspire employees, colleagues, and our extended community to be relentless, disciplined, ambitious, adaptable, sustainable, and visionary.
People want to know exactly how companies are handled or under what criteria they must act when making decisions that affect the organization, its employees, and customers. Business transparency seeks to increase trust among those who have a relationship with the company, be they employees, customers, shareholders, or suppliers. It goes beyond compliance with the law; offering transparency must be done in a serious, orderly, and committed manner.
A good leader must not only delegate responsibilities but must expand power to others. Rhino Ventures Asia is a flat organization, so focuses less on supervising employees, and more on promoting their increased involvement in the decision-making process. Leaders who are front and centre, transparent, honest, and authentic are key to creating a sense that “we’re all in the same team”. Richard Nilsson, CEO of Rhino Ventures Asia, follows this advice rigorously, being involved, accessible, and ready to talk to everyone.
An environment rich in diversity affects the way we work and interact within the organization. Diversity must manage the set of people who interact with the company and not just a few. A diverse workplace enhances innovation and allows for more creative solutions. On the other, inclusion responds to the prejudices and social and corporate barriers that exist around a group of people and to the company's commitment to empower people at risk of social exclusion.
The physical space that employees inhabit each day can go a long way in determining how people feel about their jobs and their employer. Comfortable workspaces with amenities and resources that people need and care about contribute significantly to morale levels, productivity, and satisfaction.
Feeling valued in our job is a key element for productivity; recognition is something any employee looks for when he performs her duties. Clear and frequent processes for acknowledging achievements show a priority to recognize performance and reinforce the company as a space for growth, advancement, learning, and promotion.
The ongoing pandemic has brought new challenges to all sectors. Most employees are now working either in part or completely remote, so founders, leaders, and managers are now responsible for transforming what company culture involves and how to maintain it during these difficult times. A Gartner, Inc. survey of 317 CFO’s and finance leaders already back in March 2020 revealed that 74% will move at least 5% of their previously on-site workforce to permanently remote positions post-COVID 19.
At Rhino Ventures Asia adaptability and trust are key. The world changes fast, and we change with it. We’re multi-skilled and effective in our implementation, changing our approach when necessary; adapting to the circumstances. Trust in employees has never been so paramount for success. Research shows that companies with high levels of trust increase their average employee engagement by 76% over those with low levels. It can be very challenging to keep employees engaged and that adds to the pressure of growing a company amid a pandemic. That’s where company culture makes all the difference.
Without a clearly defined guide that can withstand the challenges of working remotely alongside the difficulties of this new environment, a company will not succeed, even if the ideas are innovative and the resources are available. In the end, a company is only as good as its culture.