CEOs, Company Culture and Crain’s
Ask nearly any CEO, and s/he will tell you that creating and maintaining the “right” culture is a key part of a successful company. That idea was reiterated repeatedly when I had the pleasure of being part of a panel for a breakfast, presented by Crain’s Chicago Business, last week. Our panel was comprised of four CEOs from middle market companies, representing a variety of industries.
The topic of company culture kicked off the discussion when our moderator asked us about the challenges we faced to maintain growth at this stage in our respective company’s development. Often, growth makes it challenging to maintain and extend culture. And that’s a big deal because culture is an indelible component of who we are as companies, and the fact that culture plays a key role in retaining good employees. While there are many factors that play into someone’s decision to stay at or leave a company, culture is a key influencer.
We talked about the importance of growth opportunities. MedSpeed is fortunate that we can offer a wide range of opportunities to MedSpeeders, both for job growth and geographic mobility. Other ideas and food for thought were shared as well. One presenter spoke about “peer summits” they have so that employees in other geographic regions can learn from their peers and also get to know each other face-to-face. Another spoke about stretch projects—where employees are engaged in projects that are both a bit out of their responsibility range as well as slightly above their purview.
It’s so important that we ensure our organizations provide our team members with opportunities for growth within our company, and that we create an environment where everyone feels like they are part of something meaningful and bigger than themselves. Culture really does set the tone, and that tone can make all the difference in creating growth and success.