Two Hashtags That Reveal The Incredible Power Of Corporate Culture (#Falakonians #FalakBigBang)
Fyi, Falakonians are what we call Team Members that work in a Falak company, and the Falak Big Bang is our annual event where we focus on training, games, talent competitions and just have massive fun.
Notice the genuine smiles on the Team Members’ faces. It reveals how really happy they are. Having a powerful corporate culture is not necessarily easy, but it is extremely simple; focus on your Team’s happiness.
By focusing on your Team Members’ welfare and happiness you will reap a ton of benefits:
1) Higher Team Member motivation and thus productivity.
2) Virtually no time wasted on internal politics and bickering.
3) Higher Team Member retention (I’ve had Team Members refuse offers from other places that were double or more of what I was paying them). Highly engaged employees are 87% less likely to leave the company they work for than their counterparts.*
4) You become a magnet for high quality potential employees who will be attracted to your culture.
5) Better service to your customers and clients. Peers and camaraderie are the #1 reason employees go the extra mile – not money!*
6) The increased productivity, higher retention and better service will lean to increased revenue and profits. In fact, Companies with engaged employees outperform those without by up to 202%, and companies with engaged employees vs competitors with low engagement levels enjoy 2.5x more revenue growth.*
7) You’ll sleep better at night knowing that you are treating people well and making a positive change in people’s lives.
This point is worth emphasising and repeating: having a positive, powerful culture will make your Team Members treat your customers much better, leading to better customer service and customer experiences, which leads to more repeat business and more business through word of mouth, and thus more sales and more profits. So really, a powerful culture is good business.
And the opposite is true. When you have demotivated staff working for you, they can do a lot of damage. My wife recently told me how she went to a store in the Aali mall, and heard an employee speaking loudly on the phone about how they are being mistreated and underpaid. Ask yourself, are you 100% sure that your staff is not doing that?
A few years ago I went into a relative’s business, and within the first 5 minutes one staff member was talking badly about my relative. When I told him I was related to the owner his face reddened and he try to squirm out of the awkward situation he had just put himself into. It was shameful really! Whatever you do, don’t assume that your staff won’t talk badly about you with others – even customers – if you’re not working hard on keeping them happy.
One of the best ways to measure your culture and Team Member satisfaction is to use the Net Promoter Survey (NPS). It’s a simple one question survey that asks your Team Members how likely they are to recommend working for your organisation to friends and relatives. They choose a score from 0 to 10. The result is translated into a dashboard which goes from -100 to +100. The closer you are to +100 the better.
We just did our bi-annual internal NPS and I’m delighted to say that it’s at +100. This is unheard of, but we are a small team that works very well together. Keeping our internal NPS at +100 will be a real challenge as we grow, but I’m positive we’ll be able to keep it very high in the years and decades to come.
An internal NPS survey is a good place to start. Use the first survey as a benchmark and work on improving it from there. Trust me, it will pay off handsomely. And if you need some help just give us a call.
*Source of statistics Stackhands.com.