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accounting, finance, company culture...
Organisational culture can have varying impacts on employee satisfaction, though it has become increasingly evident that a positive work culture keeps team members motivated and drives better results. According to Deloitte, 94% of executives and 88% of employees believe a distinct workplace culture is important to business success. Deloitte’s study also found that there is a direct correlation between employees who feel happy and valued at work and those who say their organisation has a clearly articulated and lived culture.
The role of culture in finance and accounting has reorientated itself to the top of many business leaders’ agenda, as organisations look to develop new initiatives to unite their employees and improve their employer brand. In turn, positive company culture will help strengthen the reputation of your financial business, promote customer loyalty, attract and retain high-calibre talent, as well as reduce staff turnover.
Company culture has become a hot topic in recent years, though many associate positive workplace culture with luxurious perks such as ping-pong tables, free coffee, break out spaces, or even nap pods! Although these perks a great feature, a company’s culture runs deeper than just your assumed ‘fun-factor’ and is about your organisation’s core values, beliefs, and behaviours that your finance team share and use on a daily basis.
As company culture is a product of your mission and values, it can also be defined by the way that those values are expressed through the actions and attitudes of your employees. A positive workplace culture is an important part of any business due to the following benefits:
It attracts potential employees
Promotes employer brand
Retains top talent
Improves job satisfaction
Reduces workplace stress
There is no ‘one size fits all’ approach when it comes to defining a strong company culture in finance and accounting, though there are several factors to take into consideration when establishing a method to positively influence your workforce and enhance your organisational culture to drive performance, such as:
Establish a relationship of trust
A relationship of trust between employer and employee has become more important than ever, as many finance and accounting firms increasingly adopt extended work-from-home policies. According to research by Harvard Business Review, employees working in a high-trust organisation report 74% less stress than those working in a low-trust organisation, as well as 50% higher productivity and 76% more engagement.
Company values should be clearly articulated to all employees, so that the entire workforce is working towards the same goals and objectives. One way to reinforce company culture, is by helping employees feel more connected to it by reiterating key principles that guide your finance business on a regular basis.
Support career progression
Offering employees training and development opportunities has a two-fold benefit – you gain enhanced knowledge and skills, and employees appreciate the time and investment afforded to them. This will make your finance team feel valued, as it demonstrates that you are invested in their career and support their long-term aspirations.
·Promote employee engagement
Not only are engaged employees likely to be more productive than their unhappy counterparts they are less likely to leave, and less staff turnover means greater continuity and reduced recruitment hassle and spend. They will also become brand ambassadors for the business, helping attract more talent.
At Edward Mann, we value the importance of staff who feel supported and encouraged in their work. Feel free to get in touch if you are looking for tips on how to build and maintain a positive workforce culture to help drive performance.
With our database and deep networks within the finance community we are also able to source high-calibre candidates to suit the specific needs of your business goals, ensuring you don’t miss out in the future. We actively look for the most technically proficient candidates and have an international mindset, to make sure you get the best possible skillsets to suit your needs.
Submit a vacancy below to learn how we can help build your company culture: