In a recent survey over 40% of employees stated they would leave a job for a better opportunity or career challenge. Money is no longer what retains talent so how can companies attract and keep the best people?
According to AerCap CEO Aengus Kelly the culture of a company is key. Aengus states… “Culture is vital – that it’s one that rewards success and pushes people forward.”
‘Company culture’ has become a buzzword over the past few years. The idea of a strong company culture isn’t new, but the idea of what company culture really means has gotten skewed. The company of a culture isn’t something that can be created overnight. The contemporary concept of culture is Friday beers and ping pong tables, but what really matters within a company culture is communication and a shared vision.
Aengus confirms… “Everyone needs to share the same vision and be on board with the same mission statement. Those who work hard must be rewarded.”
A strong company culture should have a clear message, that is obvious in any decision-making policies and practiced from the highest level down to the most junior employees. Aengus describes the culture behind the AerCap brand… “When we started, there weren’t many companies in Ireland that believed they were entitled to be number one in the world. That’s something that permeates the organisation. It has always been the culture of the business.”
When employees know what is expected of them and are rewarded for their contribution this is when a culture will strengthen and prosper.
Aengus again confirms… “You need to have a team who you can rely on, who are excellent and who share the same idea and values. You need to have support. A culture of doing things. You need to know why you’re there and why it’s important.”
He continues…” Results matter, so execution is crucial. You have to get things done, so everyone in the organisation needs to have clear objectives and knows what needs to be done and work together as a unified team.”
Without a clear shared vision and a transparent leadership team, no matter how much is invested a company culture might attract employees, but you won’t retain top talent.
If you research company culture the same elements will be mentioned again and again: company vision, values, norms, systems, symbols, language, assumptions, beliefs, and habits. All these words relate back to clarity and consistency. To strive in business focus on the core of the company culture and leave ping pong and Friday beers as an optional extra.