What defines a company? Its people? Products maybe? Location? This question is asked on numerous occasions throughout the world; and various people have given their definitions. Building on these, I’m going to answer the question – What defines a great company?.
“It’s not just about having systems, policies and procedures in place, nor is the best employer just a nice, friendly place to work. What makes these companies great is their genuine engagement with their employees, supporting them in their workplace, careers and wider community, which in turn has a real impact on the business”. Source
“For me, a great company is one in which its people have a common goal and shared values, which trades responsibly and ethically, and which delivers outstanding value for its customers”. Gary Flynn, MD NetGiant
I’m going to tackle this question from an employee/customer angle.
On my first day, as I entered into the NetGiant office, I noticed 6 signs:
After spending one month at NetGiant, I think the above signs describe a company that is great, to both its people and customers very well. I’m going to delve into each.
Having a fun culture is a vital piece of the puzzle. Without it, a company cannot be a great place to work for or purchase from.
We are now in the 21st century and the online trade is booming. Never before have we seen such large figures for online sales
(UK online sales spend 2007-2011 – source – Dragon Design)
So, why is having a fun culture important? Customer service has never been so important. When purchasing online, a customer doesn’t see a face behind the company (most of the time) and is left with only a voice and so, making the customer’s experience great is an ever more difficult task. Having a fun culture within the company helps with this.
How? I hear you ask?
We have company meetings every Friday mornings and in one of these, Geri, our CS team leader mentioned
“A fun company culture = happy employees = employees in high spirit at all times (especially when communicating with customers)”.
The whole culture is transmitted to the customer naturally via the tone and style of communication which builds trust and satisfaction, which in turn leads to a great customer service!
So a fun culture is one part of the formula to defining a great company, for both its employees and customers.
Quality is important.
- Without it, a business won’t reach its optimal potential
- Quality in Products and Service builds customer loyalty
- Builds a strong brand reputation
- Attracts and retains good staff
- Gives a sense of satisfaction to customers and employees that they are part of a good organisation with a good reputation
All in all, quality builds a successful and great company.
By value, I mean
- Company Value
- Valuing and making employees feel valued
- Valuing and making customers and suppliers feel valued
- Product Value
You may have great products, great employees and numerous customers however if they’re not valued, products won’t be sold. How? Customer retention will decrease and employees will search for the first opportunity to move onto other roles.
- Being honest
- Being undivided
Two qualities that many companies lose as they grow. Being honest with employees and customers will take you a very long way and are vital elements to success. Without honesty, friction is created between people and which in turn leads to the quality of work decreasing and the rise of divisions. A company that’s divided
Quality, great value and integrity are important. Maintaining and improving them are more so. Without efficiency, the standards of a company deteriorates over time. After winning the the 2011 Consumer Choice Award, our MD Gary Flynn commented
“…Winning shows that we’re getting it right but we won’t get complacent. We’re always looking to improve and we’ll be in the hunt for more awards at next year’s event!”
Never get complacent.
Without innovation, a company’s success will deteriorate over time (very few can claim not to). Innovation is important for 2 reasons:
- Keep customers interested in your company.
As times change, your company needs to adapt to the change.
- Keep employees dedicated.
No matter how great you are at the above five points; if your company does’nt innovate, you will lose your best.
So, there you have it! 6 points to defining a great company to work for and purchase from. What is your definition?