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Creating a Great Company Culture

Franklin Wolfson shares his insights on how to create a great company culture; one that values and rewards its employees and follows the 3 C's of success: competency, charisma, and character.

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Creating a Great Company Culture

  1. 1. Creating a Great Company Culture FRANKLIN WOLFSON
  2. 2. It all starts with the right hires Culture is extremely important but so is team building. While every team wants an outstanding player, not every outstanding player wants to be a team player. These people won’t fit into your culture and often become toxic and distracting.
  3. 3. Guiding Principals ASK YOURSELF: Why does your company exist? What is its mission? To make sure your response resonates with your audience, you must be authentic. As a bonus, it should also be inspirational.
  4. 4. "A company with a strong purpose will be admired and respected and one that people will feel naturally attracted to." —Franklin Wolfson
  5. 5. Similar to a country's culture, To be efficient, a country should have a common language, similar values, support for its administrative system and a belief in the principles upon which it was founded. Of course, no business or country will be totally harmonious but the more there is deviation from its core, the more inefficient and less productive it becomes.
  6. 6. Defining Core Values Companies must be able to clearly define their principles and core values and they must also be able to measure changes in adherence to those principles and core values. If employees do not know what is expected of them or have doubts that management knows they are meeting or exceeding those expectations, morale will suffer, turnover will increase, productivity will suffer and costs will rise and profits will fall.
  7. 7. Respect Must Be Earned to be Effective There are two types of leaders. The first type earns the respect of his subordinates regardless of his position in the hierarchy and the other demands respect because of his title.
  8. 8. Are you a Cultural Ambassador? True leaders will be the embodiment of the company’s culture. They will eat, sleep and breathe it, they will help instill it in others. They will be the company’s personification of its values and by being genuine, they will instinctively have the passion to inspire others to adopt the company’s culture and also be ambassadors to promote it to others.
  9. 9. Honesty All employees want to be part of the inner circle. In most cases, that’s not possible or even desirable, especially when it comes to personal information such as salaries or performance reviews of other employees. However, it is almost never acceptable to deliberately lie, mislead or withhold information from your employees.
  10. 10. The 3 C's Until the day comes when all businesses are run by robots, your employees’ competency, character and charisma will have a huge impact on your firm’s success… and of the three, character trumps the other two. Competency can be learned, charisma is a bonus but character is innate.
  11. 11. Next Steps The next step is to show you appreciate and respect them and then make sure you give them the proper tools and incentives to succeed. Compensation and benefits are only a starting point but the most important thing you must do is to provide meaningful projects that challenge them to do their best and when they do, it should provide a clear path to greater opportunity, rewards and recognition.