Several times now I’ve said that a great corporate culture is the only sustainable competitive advantage. How do you define a great corporate culture? Here’s how we define and measure our culture to determine if we are doing a good job:
- We measure ourselves against the core foundation of good work, good people, and good pay:
Good work – fun, interesting, and challenging
Good people – positive, self-starting, and supportive
Good pay – well above average compensation with strong benefits
- We have an anonymous quarterly survey sent to all employees asking if they agree or don’t agree that we meet the core foundation (last quarter we had 100% somewhat agree or agree and we typically have 92%+ agree) as well as asking the Ultimate Question (how likely are you to recommend this as a place to work to your friends)
- We measure employee turnover and typically only have one or two employees leave per year
- We require unanimous consent for any new hires (anyone in the hiring process can say ‘no’ and the candidate will not move to the next round)
Defining a great corporate culture is hard. We’ve set out our own standards and methodology and feel confident we have an awesome corporate culture.
4 thoughts on “Defining a Great Corporate Culture”
Smart and informative. We feel that everyone should be working at something they love. Corporate culture is a very important aspect of achieving this goal.
“typically only have one or two employees leave per year” – is that stat based on those who leave willingly or those who get pushed out? 🙂
I think it’s iffy to base anything on employee surveys when clearly people will likely not answer honestly for fear of retribution – anonymous or not.