“If you want to go fast, go alone. If you want to go far, go together.” In today’s world, the business and corporate sector are in a constant state of change and fluctuation where companies and firms are now beginning to find that success is not simply based on finding the most qualified talent, but keeping the talent in the work place. With that being said, company culture is more important than ever. For the first time in history, millennial have become the largest generational cohort in the United States workforce, with almost 54 million making up the labor force. With those staggering numbers, it is absolutely vital to take into consideration the mentality and mindset of these individuals.
To put it simply, company culture, often referred to ask work culture, is now the highest priority for both businesses and job seekers. Unlike the 80s boomers and notorious Wall Street warriors, the millennial generation does not look at 80+ hour workweeks as a red badge of courage. Instead they see it as a toxic environment only meant as a pit stop for something greater. When it comes down to the numbers, everyone knows that it is more expensive to hire a new employee than keeping and retraining an older one. That type of fact takes into consideration the time, money, and effort it takes to establish a strong and effective employee. But even with that fact, employers and businesses are struggling to keep their talent happy and in-house. But why is this? What is making these millennial constantly change jobs every two to three years?
One of the biggest reasons is the lack of company culture. Company culture is often defined as the behavior of humans that encompasses the values, actions, and social norms that physically and psychologically represent the environment of an organization. To put it simply, a business’s culture attributes to its holistic and wholesome view where every employee and individual values, believes, and represents the vision and goals of its company. While some businesses still thrive on the negative and competitive antiquated style of a standard office, many however have changed their models and replicated a setting that inspires and stimulates their employees. Take for example Google and Apple. Their non-traditional approach to their employees and work setting in the early 90s has now taken a strong grasp of the ideal work place for 2016. This has even gone as far where recent college graduates are deferring offers from big banking and consulting firms and their financial packages to work for companies that give them that liberated freedom.
As much as people can criticize this somewhat work-movement, the world needs to understand that the change is meant for a reason. At the end of the day, company culture is the business’s personality. It is not something that forces people to work, but rather inspires them to reach their goals. Regardless of how the old ways use to do it, this give-and-take relationship asks businesses to recognize the value of their employees and acknowledge them for their hard work. In doing so, businesses have thrive at their financial goals and product expectations for the future. Remember, a company’s culture is the foundation for future innovation. As a business leader, it is your job to build that foundation and set a sustainable, competitive, and controlled environment for your company to grow and develop each and every day.