‘Company culture’ seems to be the human resources equivalent of the crypto/AI buzzword mania. But the thing I find about buzzwords is that once they’re easy to include because of some intrinsic value they may imply, it becomes very easy to undermine their underlying importance. So, what is ‘company culture’ and why is it so important?
Company culture is the overarching ecosystem of the workplace. It defines the explicit and implicit rules of the organization and how it functions. It encompasses a variety of elements, from ethics and values to goals and expectations. It represents the ‘What, why and how?’ of a company.
From this definition, one can already recognize why company culture matters so much. A good company culture cultivates a conducive environment where everyone understands the targets and goals of the organization, what their individual responsibilities are and how they are meant to carry out these responsibilities. Overall helping keep everyone in the organization motivated and satisfied.
One of the funny things I notice is that many companies claim to have a unique culture or set of ethics. This makes sense, but when they expand on the features that make up their culture, they more or less seem to be identical to other companies which may seem rather strange because every company is unique in its own right.
Why is that?
I believe it’s mostly due to company culture being an inherent aspect of the company, not something it inherits. To visualize, company culture is yin and yang rather than an intersection.
The culture is what the company inherently is, the people who have worked there from the very beginning. Which is why it’s extremely crucial to get the foundation correct.
Your early hires will shape your company culture. This is why it’s extremely difficult for late-stage startups and mature companies to change their culture when they attempt to inherit a new one. Because they often treat company culture like a top-down problem rather than a bottom-up one.
Often times, when a company tries to inherit things into their culture, there’s a disconnect. We can even see it visualized in the Venn diagram, only a small section is intersected with culture being inherited – these probably would represent people hired after a cultural change had been introduced.
So, how do you build a winning company culture? It goes beyond material values like snacks and ping pong tables, but by focusing on several key factors.
- Values – you need to find employees that share the same set of values as you do and feel aligned with your mission statement. This is especially essential for your early employees.
- Transparency – creating a transparent ecosystem helps communication and builds trust, which creates better working relationships.
- Balance – as we know startups are like a rocket ship of productivity, but offering balance in work prevents burnout and will likely keep employees motivated and performing at a high level.
- Pathway to development – offering a pathway for individuals to develop careers professionally will also keep employees motivated and also brings transparency to the type of work that is valued and promoted in the company.
At Ventures Platform, we are big on company culture and we have worked over the years to ensure that new hires, partners, communities, and stakeholders understand our company’s culture which is “work in progress”.
In fact, last week, we held a Culture Party to unveil our culture wall at our campus, Ventures Park. It wasn’t enough to have it in a document on our laptops; we had to pull out the big guns and build a whole wall for them so that we can clearly see and live them.
Naturally, there are various other factors, but I think these are just a few of the things you could adopt in your startup to cultivate a good working culture as soon as possible.
That’s all folks! Now, let’s dive into the other parts of Series V.
Trove Finance has bagged major investment from ARM. They received an undisclosed amount of equity funding from the firm ARM to help it deliver access to global investment opportunities. Click here to read the exciting news.
Do you have what it takes? Kudi is currently recruiting senior backend engineer. For more information, visit www.kudi.com/careers. Please, share it with your community. Read the job announcement here.
How would you like to invest in Thrive Agric’s rice farmers with as low as NGN 56,500 and earn 20% in 9 months? Learn how here and take advantage of this opportunity.
PiggyVest – touching lives since inception! Watch how a man surprised his wife with a new Toyota car for their anniversary through his PiggyVest savings! See post here. Great stuff.
We had the pleasure of hosting the President of the African Union 6th region, His Excellency, Dr. Macaulay Kalu. We had fun showing him our campus, chatting about the work we do as well as exchanging ideas on how we can transform Africa through innovation and technology. Read the post here.
The Ekiti State Government and Ventures Platform have launched a partnership to design and implement Digital Ekiti – a program that will strengthen youth innovation and entrepreneurship in Ekiti State. Read the tweet announcement here and the press release here – http://bit.ly/vp_eksg
We held the first town hall meeting of the year on Thursday 23rd of January 2020! It was fun interacting with our coworking community and learning about their plans for the new year and measures taken to crush their 2020 goals. Read here.
We hosted the official launch of Infodemics on the 23rd of January 2020. Infodemics is a risk communication Platform that uses existing social hierarchy in a community to efficiently and effectively communicate health risks. This is the first of its kind in Africa. Read more here.
The folks at Endeavor Nigeria came up with this brilliant idea to pull thought leaders in the Nigerian entrepreneurship ecosystem to pen their predictions for the tech ecosystem in 2020. Find the link to the complete article here. Share your thoughts about these predictions in the comments here.
Finally, we are happy to reveal the 16 new Vp Culture guiding our interactions with, not just our staff, but with partners, our communities, and stakeholders as well. This culture exemplifies who we are and what we stand for. Send an email to [email protected] or a dm to @theventurespark on Twitter and Instagram to book a tour of our facilities and see our Culture Wall live.
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