How to Create a Growth Culture in Your Business

As you are expanding product offerings and working to connect with new customers, have you considered how you are supporting the growth culture for your business? Too often, business owners get so caught up in the day-to-day tasks that they overlook the way culture impacts current results and success in the future.

The truth is that developing a growth culture might be one of the most important things you can do for your company. This strategy can be designed to promote improved productivity, tap into new skill sets among employees, and boost overall engagement in many aspects of your business systems.

What is Growth Culture?

Every company has a business culture, regardless of how proactive you are in creating the culture that you desire. If you aren’t deliberate in designing a culture built on growth and productivity, then it is likely that your company is falling into a culture of stagnation.

The key is to develop a growth mindset that can be shared with employees and management. This mindset will naturally affect every aspect of the business, including customer interactions, product development and more.

Your growth culture should be founded in the belief that skills and systems can be improved, and the development of these growth opportunities is an important part of the work that is completed on a day to day basis. Designing a growth culture is the process of developing an environment that supports continuous improvement for all team members.

Why Your Business Culture Matters

Why does it matter if you are proactive with designing the right company culture? When you create a work environment that promotes ongoing development among team members, it boosts employee performance and engagement. This trickle-down effect impacts profits and customer satisfaction, which is the perfect recipe for helping your business grow in the future.

It’s been found that employee engagement is a critical driver for business growth. When employees are motivated, day-to-day activities have a direct impact on customer ratings, overall productivity, and profitability.

At the same time, the opposite is true: poor company culture results in unmotivated employees. As a result, team members are doing the bare minimum to get by each day in the workplace. You are either developing a cycle of success or an environment of mediocrity.

Creating Growth Opportunities in the Workplace

Employees won’t naturally seek out growth opportunities without the right support and encouragement at work. As a business owner, you can help employees engage more effectively by providing situations that help employees with continuing education, stronger certifications, and the development of new skill sets that support company needs.

This engagement with employees can help to reduce missed days at work and improve overall employee satisfaction. The positive benefit is that happy employees are willing to stay with a company long-term, which means that investing in growth culture can be an effective way to reduce turnover each year.

As a business owner, it is important to understand that investing in your employee’s professional, personal, and financial growth can potentially result in excellent returns on your investment in the future. Your staff is motivated to improve performance, which is essential if you want to help your company grow in the future.

7 Tips for Developing a Growth Culture

Setting the intention of developing a growth culture is just the first step. Implementation can be a challenging path to follow, especially if you are working to overcome a negative company culture that is currently in place. Here are a few things you might consider if you want to ensure optimal success with a change in growth for your company culture:

  1. Employee Buy-In: These positive changes will only impact your company if employees buy into the initiative. Growth will only happen if the employees are willing to engage in the process and focus on personal development. Instead of forcing specific types of development, it’s important to understand the desires and interests of each employee. Then, potential opportunities can be offered that match a wide range of preferences.
  2. Immediate Implementation: As an employee is developing a new skill set, it is essential that they have the opportunity to use these skills as soon as possible. Reducing the gap between learning and implementation is critical so they don’t lose the skills or fall back into old systems again.
  3. Start at the Beginning: The communication that happens in the hiring process and through onboarding will set the tone for the way new employees will engage in the workplace. Look for ways you can show encouragement and growth opportunities from the moment a new hire steps through the door for their new job.
  4. Mission Statement: Spell out your growth culture goals in the company mission statement. Not only does your mission statement bring in the right types of employees who fit your desired culture, but it reminds current employees that there is a strong emphasis on continuous learning and growth.
  5. Build Skills: Employees need tangible ways they can build new skills and knowledge. Create trainings and potential ways for people to learn both industry-specific skills and soft skills that can boost daily performance. For example, an employee might benefit more from learning how to manage distractions in the workplace compared to a long lecture about industry-specific laws. While it’s important to maintain current information in your industry, it is more important to help your employees develop a mindset where they are interested in learning new things.
  6. Connection and Communication: Building a strong team environment is the foundation for creating a growth culture. When people are working together, they can help each other overcome common weaknesses and issues along the way. Look for ways you can create more cohesiveness among team members. If employees don’t have a lot of face-to-face time with other people in the organization, then technology can be used to increase interaction among employees.
  7. Long Term Initiatives: Remember that your company culture won’t change overnight. While the hope is that your employees will be engaged in the process right away, it often takes time to shift mindset within an organization. Your growth culture initiatives need to be focused on the long-term goal of changing how the company moves in the future. You will start noticing benefits from the moment these changes are implemented, but the most notable benefits are still a few months (or years!) down the road.

With the right company culture, it is possible to empower employees and help them strive for their highest potential. These learning opportunities show individuals that anything is possible when they are striving for optimal levels of achievement. There is no limit to possible growth when a person is engaged and proactive in their personal development.

How to Motivate Employees in Your New Growth Culture

In most work environments, it is necessary to find the right motivation that will help employees buy into new initiatives. These are a few methods you might consider that can help employees take personal responsibility for looking at what drives their development and performance:

  • Recognition: It feels good to have a pat on the back and acknowledgment for a job well done. Design a program to recognize employees for outstanding behavior. This positive reinforcement will encourage people to continue striving for more.
  • Mentorship: Newer staff members have a lot to gain by working side-by-side with the more seasoned employees. Create a mentorship structure that enables interactions between all team members. This mentorship system needs to be built on both inclusion and diversity.
  • Money: It’s no surprise that the main reason why employees continue showing up for work is because of the paycheck. Employee growth can be incentivized monetarily by rewarding specific accomplishments. Designate a portion of your budget that allows a cash bonus system as appropriate. Gift cards, a bonus pay-out, or small gifts can go a long way in providing tangible reinforcement of the culture you want to develop within your business.
  • Modeling Behavior: Management needs to be fully engaged in the process to show their teams how they can be growing professionally. Managers can influence behavior by leading by example. When everyone is working together on growth, it is easier for individuals to do their part in contributing to the team effort.
  • Promotion Opportunities: It is important that employees see a way forward in how their careers can develop in the future. If you invest in employee growth without giving them a potential for promotion, then it will likely result in a turnover as the employees look for new opportunities with other businesses.

Implementing the Right Business Systems

Also, don’t overlook the importance of implementing business systems that support productivity. For example, a good bookkeeping and accounting system is critical for reducing financial mistakes and minimizing data entry and other busywork.

If you are looking for ways to create a growth culture and improve your business financial systems, then Easier Accounting is just a phone call away. We specialize in small business accounting services. Contact us for a consultation to learn about the available services: (888) 620-0770.

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