Startups are dynamic and exciting places to work. There is potential to build something great from nothing. But as a startup scales, it needs to make sure that its employees are motivated and equipped to rise to the occasion.
We’re not just talking about trendy office perks like ping-pong tables and free beer - we’re talking about a culture that fosters success as it continues to grow.
Here are three ways companies can build and maintain a strong startup culture:
1. Define company purpose and a core set of values
Work culture affects your operations and is the foundation for your business. This is why it is important to define your startup’s vision, mission, and actionable values at the time of its inception.
Choose values carefully depending on how relatable they are to your startup and your employees and keep referring back to them in everything you do. For example, if allowing employees to set their own working hours and locations is part of your setup, ‘flexibility’ could be one of your core values.
At BOOM, our core values are: exploring relentlessly, making change our strongest ally, and walking the extra mile.
Once you align your employees around your startup’s goals and values, they will understand what is required of them and how they should go about achieving within that framework. And, knowing how their everyday behaviors contribute to the bigger, long-term startup goals is sure to keep them motivated.
2 - Keep communication channels open
Your vision, mission, and values matter only if they are communicated effectively to employees. And, the best way for leaders to pass on a startup culture to employees is by having it reflect in your actions. They should lead by example.
Reinforce the power of these values by sharing success stories within your team and celebrating occasions where the alignment of values has occurred.
Making sure employees are aware of what is expected of them helps everyone to work in one direction with passion and efficiency, thus improving startup performance and profitability.
Also, in order to build a startup culture that does not stagnate or become neglected, don't forget to ask employees for feedback - and most importantly, act on it!
3 - Encourage agility amongst employees
There is no place for complacency in a startup. Agile companies were the ones that thrived during the pandemic. This is why a culture of agility is something that could be encouraged amongst employees.
Your staff needs to feel empowered to respond quickly and flexibly to the changing needs of customers and external factors.
The future of startup culture
Over the last four years across Europe, there has been a 43% increase in people working at tech startups. This trend is likely to continue for the foreseeable future.
In this period of rapid growth, as a company hires and manages a high volume of new recruits, having a strong startup culture is essential. The benefits that you can expect to reap include higher employee retention, increased investment opportunities, and advantages for the wider community.
So, be sure to set the foundation for your startup culture in the early stages of the business life cycle, and it will pay guaranteed dividends over time.
Finally, remember that a startup culture isn't built in a day. Growth-stage startups must constantly build and revise their values, relationships, and communication, to sync with the dynamic external and internal environment.
Could BOOM’s startup culture be a perfect fit for you? Check out our current job offers now!