To grow your business and become more efficient and profitable, it is critical to re-evaluate your corporate values to determine what needs modification, which employees share your vision, and how your culture matches your hiring strategy.

As a business owner, you should strive to adopt a modern culture that incorporates the following elements:

1. Encourage consistent feedback and engagement from all personnel. Show interest in their work accomplishments and aspects of their personal life, avoid being defensive whenever possible and admit when you have made an error in judgment.

2. Offer job tasks and meaningful differentiators that improve the “employee experience.” Start by asking and/or surveying your employees to determine what matters most to them. Make your differentiators personalized. Some employees may prefer the opportunity to work remotely on an occasional basis, while others may want a defined path to advance into a larger role in the future.

3. Emphasize “Personalized Performance Management” using self-assessments. Provide real-time feedback on employee development and define attainable milestones to assist them in reaching their goals.

4. Focus beyond compensation to determine what additional benefits your personnel value. Again, use conversations and research to determine what matters to your employees. Consider financial wellness programs, mental health assistance, childcare, pet insurance and similar alternatives.

5. Reward your long-term and core employees with a more flexible work schedule. Do not take this lightly. Make your employees earn this benefit. Define (in writing) what your expectations are for employess to receive a flexible schedule and continue to enforce these expectations after the fact.

6. Prove that you understand and value diversity in all levels of your company, but don’t hire strictly based on diversity as this will be perceived negatively. Recognize that diversity is not a compliance issue but a way to bring differing perspectives into the workplace.

7. Incorporate a re-training program that reinforces your methods and builds loyalty. Identify the individuals (early on) who are not a fit for the role or your company versus those who need additional guidance and direction. If a re-training program is presented in the correct manner, most people will embrace it with the understanding that it will help them accelerate their learning, earn more, and have a greater opportunity for advancement.

As the adage goes, “adapt or die.” Modify your thinking on the importance of corporate culture, and you will reap the rewards.