The Growth Blog

How selling your company culture can help accelerate your business expansion plans

May 8, 2019 12:25:00 PM / by inFund

If you are reading this article, you already know that you need your business to expand in order to survive. We've already covered a number of factors regarding business expansion. In this article, we'll be focusing on your human resources and how company culture is important for your business' growth.

In order for a company to exist it needs employees. If you need to grow, you need more of them. However, one of the big problems when the economy is doing well is not only attracting people to work for you but attracting quality people.

Beyond this, you need those top-notch employees to stay. Hiring people is expensive. For most positions (at least those that cannot be replaced by robots), it requires time to train any new hires. Even for top-notch highly-qualified hires, there will still be some ramping up time. New people need time to become acclimated to your work environment. As a result, anyone you are hiring is not someone you need this particular moment (I hope that's not what you are doing, because if you are, you have failed to plan somewhere along the way). You have hired them for expected growth in the future. So, you absolutely need them to stay.

As a result, you need to develop a culture where your employees are happy and productive. They need to feel valued so that you can attract and keep these rock stars. You know the model, “we work hard and we play hard.” Yes, it seems a lot like a catch phrase, but if your employees like being at work, well, that's a win right there.

Okay so you have a solid culture in place, and you are using this to attract new employees. “Great,” you ask, “I see how this gets me good employees, but how does this help my business' growth?”

You already have part of the answer. By having quality people working for you who are committed to working for you, you already have a great infrastructure in place to handle a lot of future growth.

“Right,” you say, “but I still need more customers. I can't pay my quality employees without them!”

And of course, you are right. If you don't pay them, they will be gone by the end of this sentence. This is where selling your business culture to clients comes in. When you go to meet with your prospects, if you show them a happy, positive, and productive culture, many will recognise much of the value right away.

However, if they don't you can use your culture to help them understand a major part of your value.

Let's go over some of the factors:

  • It will show to them that you treat your employees with respect; they should rightly infer that you will treat them as your customer in the same way.
  • By having a steady reliable staff, they can be sure that they will always be dealing with the same people. High turnover in a business does not give a customer a good feeling about a stable business.
  • Customer service will be much better. Happy people tend to be happy to help customers. They are committed to doing what it is you do, and the main part of that is providing services to your clients.

You already know that having a happy workforce makes it a lot easier for you to get up and go to work, because the people who work for you are not plotting to kill you behind your back. If that's not enough for you, according to Gallup, companies that have happy employees, and who are engaged in their work are more than 20 percent more profitable than those that are not.

Invite your clients in to meet your employees. Bring your staff with you on the sales meetings. A positive culture is infectious. In fact, if you've done in right, you may end up having trouble getting your customers to leave your office!

 

 

Topics: funding growth, Business Expansion

inFund

Written by inFund

inFund is a loan and credit facility provider supporting SMEs to grow and finance their ambitions.