How Small-Business Owners Can Build a Strong Corporate Culture A real company culture is woven into the fabric of your everyday decisions.
Opinions expressed by Entrepreneur contributors are their own.
No matter the size of your business, your corporate culture matters. Having a strong culture leads to increased employee retention and a competitive edge when hiring. Statistics from the Digest of Company Culture show that a strong culture can reduce employee turnover from 48.4 percent to 13.9 percent. In addition to helping you build and keep a strong team, a healthy culture can help to build your brand, increase your team's overall productivity, and improve client and customer relationships.
While having a strong culture is important, it's not something that just happens on its own. Instead, it's something that leaders have to plan for and consistently work towards. This can feel overwhelming to leaders, especially those at small businesses that are constantly pulled in different directions. Making culture even harder for small companies is the fact that most small businesses don't have the budget for building culture that many big corporations do.
That said, spending time on culture is important and is something that all business owners should do. Even without a budget for big events or perks, there are plenty of things that leaders can do to help develop a culture that will allow for building and keeping a talented, productive, and happy team. Here are a few key actions that all small-business owners should take.