Company culture has arguably always been an important factor for businesses to thrive. Employee retention, company image and identity are just a few of the benefits of having a strong company culture.
As companies are beginning to bring employees back into the office in the post Covid world, some work-places are having to reassess just how their company culture has changed, how to rebuild it, and create the culture the organisation ultimately wants to have.
What's in this post?
- What is Company Culture?
- Why is Company Culture so Important?
- Implementing Artificial Intelligence to Build Company Culture
- How Using AI Can Improve Company Culture
What is Company Culture?
Culture within a company is anchored in the mindsets, unspoken behaviours, and social patterns amongst employees. It shapes the attitude and behaviour of employees, and essentially define what is encouraged, discouraged, accepted, or rejected within a company.
A company culture is essentially the difference between a company where employees feel like they belong and are motivated to work as a team, as opposed to a company who has employees that are only there to collect their pay check at the end of the week.
Company culture has the potential for an organization to reach its goals and feel purpose, and foster an organization’s capacity to thrive. When a company has an engaging culture, employees find incentive to increase performance.
Why is Company Culture so Important?
Countless studies have proven the value in a strong company culture. In fact, the world "culture" is being brought up more and more often during strategy meetings among business leaders, as business leaders are recognising how vital a strong organizational culture is to their success.
A strong company culture provides a company with a powerful competitive advantage, though it's definitely not easy to build. Those organisations who have built a strong orgainzational culture understand that a strong company culture doesn't build itself - it requires
Employee retention: one of the major benefits of developing a powerful company culture is employee retention. Not only does it attract skilled talent - a strong company culture helps motivate employees and make them feel like they belong to the organization, meaning less hiring work work human resource managers, and loyal employees.
Brand Identity: The culture of a business and the brand are connected - they show customers intrinsically the originality and authenticity of a company, and is a way to prove that an organization is committed to achieving a high level of customer satisfaction. Furthermore, it provides a great for leaders to maintain the direction of their employees, and have clarity in the workplace values.
Implementing Artificial Intelligence to Build Company Culture
The field of artificial intelligence is taking the world by storm. So much so, that McKinsey estimates that AI will add $13 trillion to the global economy in the next decade.
As the modern data economy progresses at a rapid pace, organizations are realising the need to adapt to the new environment to not lose out - and automation and artificial intelligence are topics that are gaining a lot of traction amongst company leaders.
Just like how the Victorian era industry was modified around utilising the physical capabilities of the new technology at the time, like steam and mechanisation, companies today are beginning to adopt the shift and ultimately harness the benefits of artificial intelligence.
So how can artificial intelligence be used to build culture?
How Using AI Can Improve Company Culture
Understand the different skills and talent within your workplace:
Without a doubt, people are the key to any successful organisation. More and more company leaders are noticing the value of understanding their workers different skills and talents, and how it can improve relationships within a workplace, as well as employees relationship to their job.
When companies understand what drives their employees, they will be able to create better work environments and therefore work more effectively together and have stronger organisational culture.
Using AI can help precisely with this - technologies such as Retorio make it possible to add people analytics and data to each stage of talent management. Such AI softwares help business owners understand how different workers lead, communicate, influence, collaborate, as well as manage stressful situations. This, in turn, helps employees feel motivated, optimise their performance, and feel fulfilled with their job.
Provide customized leadership and training:
Individual-led training and development is how organizations keep their teams competitive and their budgeting on the mark. A report from Bersin and Associates reported that employees in an organization with a good learning culture have 37% higher productivity.
Artificial intelligence allows for organizations to customise their training as well as provide ongoing training strategy for employees who are able to continuously learn and develop their skills on the job. For instance, Retorio's talent management software, employees submit video responses to questions created by a manager, a coach, or an in-house coordinator. Employees receive customized feedback on how they were perceived. Over time, talent can opt in to monitor improvements on soft-skill development by saving their automated profile.
Reducing burnout amongst workers:
Burnout from work stresses can leave employees feeling exhausted, empty and unable to cope with the demands of life - and unfortunately is more common than you might think.
95% of human resources leaders say burnout is sabotaging workplace retention due to workloads too heavy to handle.
As organisations tend to reward those who add on hours to get their work done at a faster rate, and consequently replace workers who don't take the extra workload, employees are feeling the pressure to add on hours, causing a systematic problem leading to burnout.
Recruiters can gain deeper understanding of their candidates, which they couldn't usually do during the time frame of a typical interview. When leaders have a better understanding of what drives and motivates their employees, they are able to actively build their company culture to motivate employees and shape goals and strategy.
If you'd like to see how Retorio can Provide on-demand, customized soft-skill training to improve company culture, try the free demo below.
