The importance of company culture in 2020

company culture

We have entered a new year and companies around the world are looking for ways to prepare their business for new challenges and opportunities. 2019 will be remembered for many new managerial, hiring and technology trends, but 2020 is set to become the most competitive year thus far. It has never been more challenging to hire and retain great talent. The generations are shifting and new working forces are primarily focused on one thing – a company culture. Company culture has been around since the 1980s. But only recently has it started to become a bigger priority for workers and companies across the globe. In a nutshell, company culture represents the personality of a company and defines the environment in which employees work. It includes a variety of elements, including work environment, company mission, internal and external traditions, value, ethics, expectations, and goals.

Culture is simply a shared way of doing something with a passion.”Brian Chesky, Co-Founder and CEO, Airbnb

There are different ways companies can build a better team and company culture. As the recruitment industry is going through a dispersed evolution, we will witness more companies shifting towards liberal and distributed arrangements. Moreover, more businesses will start using hiring practices like outstaffing with a goal of expanding their talent roaster and establishing a thriving working culture for their employees. In a nutshell, outstaffing enables any company to bring talented developers on board as a remote extension of their current workforce. Unlike other hiring practices like outsourcing, the team is directly managed by the employer and fully integrated within the existing company culture. By bringing their own experience and values into the team, these new hires will create value for the entire company, allowing employers to save time and money while competing on global markets. So why is company culture important, even when working with remote teams? Well, some of the benefits include:

  • Increased productivity – when workers increase productivity, the financial health of the company improves as well, and profits increase.
  • Responsiveness to change and growth – employees that are satisfied with their working environment are willing to make drastic changes and grow together with the company.
  • Better leadership – when you are able to create a productive and rewarding environment for your employees, they will perceive you as a great leader and carefully follow your guidelines.
  • Ability to avoid hiring problems – yes, many companies are facing hiring challenges due to the lack of talent. When you become recognized for offering great values to your employees, more people will be determined to work at your company and help you achieve your goals.

Image of the company
Company culture will define the identity of your brand. People are not just looking for a salary; they are looking for a culture they want to be a part of. Google, for example, motivates employees to share information for the purpose of supporting innovation. Their culture is recognized for flexibility, giving employees the freedom to work as they like as long as they are delivering value to users. By showing their team members that they can be great and serious even without a suit and grow in a comfortable environment, they became one of the most lovable brands in the world. The company has topped Fortune’s Best Companies to Work For list over five times.

Millennials are the generation driving the workplace changes of the near future.

It is predicted that this year nearly half of the working population will be composed of millennials. For them, company culture is one of the most important segments of any employment decision. If you have a fun-loving and flexible atmosphere and your customers see you as a respectable brand, you will manage to attract more talent and establish strong customer loyalty.

company culture

There are basically two types of company culture that you need to take into consideration if you are just starting to build your own identity. One type is a traditional culture more focused on formal values and a set of rules that each employee should follow in order to be rewarded. This form of culture is recognized within larger corporations. The other type is a casual company culture focused on flexibility and global principles. It has a defined set of values that each employee should respect but everyone has more freedom as long as the job is being done and users are happy.

Compete with your culture
We are living in the startup economy. Today’s entrepreneurs have unlimited digital resources to build and launch companies and reach their market relatively quickly. There are three new startups launched globally every second. Yes, you’ve read it right, three new startups. This significantly increases the need for differentiation in the market and puts pressure on companies to look for creative ways to get more talent on board. Companies today need to find a sticking point for workers who may otherwise leave the company after a short-term assignment or engagement with the rest of the team.

“Customers will never love a company until the employees love it first.” – Simon Sinek, author, Start with Why

Therefore, in order to retain more customers, attract new followers and hire better talent, companies need to start focusing on improving the image of their brand. This means they need to make their employees satisfied which will result in better customer service and faster output on the market. If you have satisfied team members on board that are motivated to be great at work and help their employer succeed, they will produce and deliver better products to your customers across the globe. When you really think about it, company culture is the core of any brand and root of its success story.

Retention of talent
Great companies are built by talented people working together. A strong company culture attracts better talent and, most importantly, retains that talent. When people are making a decision to start working for a company or change their employer, the first thing that they think about is the company culture – how other people treat them, what are their benefits, are they happy with the working environment, etc. In order to become a company that will not have to fear such problems, you need to build a good managerial reputation, offering employees a steady paycheck and good healthcare and other benefits, helping everyone develop individually within your company and appreciate their efforts to help you achieve your financial and other goals.

company culture

Hybrid teams
As a company, you already have an in-house team on board. Otherwise, your brand would not be able to operate and deliver value to its clients. But you do not want your business growth to stagnate. Markets are becoming more competitive and your brand needs to expand and connect with more customers. In order to achieve such progression, you can work on a few things such as creating new products, improving your existing infrastructure, accelerating your output, etc. All this requires hiring more developers.

Finding top candidates is not easy, but with the evolution of the labor industry towards a global workforce and more efficient hiring methods such as outstaffing, hiring external talent is a doable solution. By doing so, you will create a hybrid team and open new opportunities for your brand. Such benefits include:

1) filling talent gaps quickly,

2) scaling talent as needed,

3) handling more tasks efficiently,

4) lowering your development costs, etc.

The entire industry is moving in the direction of hybrid teams.

A study by Catalyst shows that by 2025, Millennials will take up three-quarters of the global workforce. If there is something that millennials value, it is working flexibility and the ability to travel, values that are essential in hybrid teams. Watch this brief video to learn more about how your company can take advantage of hybrid teams and take your business to the next level:

Once you build a hybrid team, it’s essential to make your remote workers feel like they are part of your in-house squad. This means including them in your brainstorming sessions, bringing them to your office to socialize with your other employees, sharing ideas and everyday challenges with them, etc. The future belongs to companies that are taking advantage of current market shifts and establishing thriving environments for upcoming generations of future builders.

Serving the online generation
The entire world is getting online and companies are starting to serve customers all across the world. In the eyes of the market, if you have a mobile phone today, that means that you are a consumer and a potential customer. Successfully serving these individuals and entities means understanding their origin, culture, and requirements. Sure, unless you are offering personalized experiences, there is a good chance you will need to make drastic changes or miss on the opportunity to generate some revenue. By having international talent on board early on, you can better understand these markets, connect with their culture and understand their core necessities so you can quickly adapt and make the essential updates.

If you want to grow your existing team with more developers, save time and money and add tremendous value to your company culture, outstaffing is always a perfect solution. Regardless of the size of your company, the industry that you are focused on or the budget that you are working with, outstaffing will help you identify the right top-tier development partners with international experience, build a hybrid team that will accelerate your business growth, and compete on the prospering market that is set to bloom in 2020. If you miss the opportunity to compete now, there is a good chance that you will be spending thousands of dollars trying to save your business in the next 3 years.

If you are interested in growing your team with outstaffing and building a strong company culture, make sure to send us a message and we will schedule a free call to learn more about your needs and help you achieve your goals. Send us a message: info@shoreteams.com

Every company, from small businesses to large corporations, has a culture. This culture is almost like its ID card. With new talent generations entering the market and industries becoming extremely competitive, it is almost impossible today to build a successful company without having a great culture in place. The quality of your values and traditions will either make or break your business. And company culture is not about promotion, it is about your people. They are the executors of your vision and builders of your tomorrow. It is your responsibility to take care of those that follow you. They will help you achieve your goals and tackle new markets. As stated by John Mackey, CEO of Whole Foods Market, “If you are lucky enough to be someone’s employer, then you have a moral obligation to make sure people do look forward to coming to work in the morning.” Employees tend to enjoy work when their needs and values are consistent with those in the workplace. Just people how you want to be treated and reward their efforts and there is no doubt that you will earn their respect and support.