A company is built by the people you have employed – not marketing strategies, not by replicating what the Forex company next door does, and usually not by sponsoring racecars. The name of the game is all about the people you hire and the culture you create.
Creating a robust and successful culture is not just for show, nor is it some buzzword individuals use to make a firm appear like some phantasmal construct. A rich culture can make or break your business, and companies with strong traditions routinely outperform their competitors – some studies even report that there are differences in productivity quantified at 200% or more (Now, I don’t have a source for this study & HAS NO BACKING TO THE FACT though it sounds good to me, but I digress).
How To Build Your Dream Team
The problem that arises for most companies is finding employees that fit your system, are compatible, and most importantly are able to comply with the existing culture. To be truly great and achieve results, your organization needs to find its niche within the industry – so for starters, it would be prudent to decide what exactly that should be. There certainly is not a linear path towards success, but being able to lead everyone towards the desired goal is what can really set you apart!
Three Step Plan To Creating A Winning Culture:
1. Make Your Culture Fit You:
At first glance this seems like a rather selfish commentary, however successful people know what they want. I do what fits my values and goals and I know what it takes to makes a successful work environment in my industry. Generally, we hear several phrases or trends all the time, namely "create fun and a little weirdness". I get it…but really, when you walk into the office it looks like a game room for teenagers with workers dressing for comfort rather than style.
Certainty on a more isolated scale this is quite commonplace in virtually every office – the cubicle peppered with decorations or slogans with some silly theme (often enigmatic to others), or the token stuffed animal hanging all over the place with some cute name like Mittens…that's not my style.
Find Your Style, Whatever That May Be
A good example to serve as inspiration or an industry paradigm is one that virtually everyone on the planet with a computer is familiar with, Google. Google is truly a powerhouse company in its own right, one that definitely knows a thing or two about company culture, and who routinely is known for their outrageously entertaining offices. Whether this means bringing your skateboard to a board meeting or going down a slide from the second floor, Google is in so many words, a unique experience to behold. They have game rooms with ping-pong, guitar hero, and countless other treats for their employees, which creates incentives and in turn (most importantly for those that are still thinking about the prospect of ping-pong or guitar hero at work) a happier AND healthier work place. In a creative industry that hinges on innovation, this certainly works for them and they have thrived, often scoring as a top company to work for in the United States.
However, this example would never work for my company or me – when clients come to visit, I don't want my employees pressing the pause button on their video games so they can come greet the customer. Call me old fashioned but this seems slightly unprofessional to me. Herein lies the fundamental realization I touched on earlier – this type of behavior or structure does not work for my culture or me, the square peg in round hole analogy comes to mind. The main goal here is that you have to find your place and drive hard for a thriving employee atmosphere.
2. Make The Workplace Environment Fun And Enjoyable:
I confess my workplace does not resemble that of Google, though I would venture a guess if you are reading this that your company’s atmosphere or culture does not either. What works for me is creating a workspace where my employees WANT to come. Now that doesn’t mean you need to be a clown and put on your big red shoes to entertain your employees, but you need to stay connected in some capacity.
Connectivity is accomplished by doing things together, really building your team and developing strong relationships. Go to lunch, happy hour, fun events, and of course, the gym! Creating an environment with like-minded individuals makes for a stronger work force. An example of this within my company is how when one person goes on a diet it seems to manifest into a competition in our office – most of the time it escalates into a big event, which is always very entertaining. This type of thing really works for us because we are all competitive – I like to say I never lose, however the younger guys in the office generally find a way to beat their boss, as highlighted in this particular example.
3. Hire Great People, Hire ROCK STARS:
Everyone has their own system, here is mine. I use the law of 20 – what this means is that I only hire the top 20%. They do not necessarily need to be from another brokerage or forex firm, I just simply want proven winners in life (everybody knows people like this, or perhaps you are one such person). These individuals need to have been very successful in their past ventures, from being a top athlete to being a top sales person – it’s all good by me). As long as they were thriving in that position, it shows that they have the determination to make nothing into something and that represents that they have worked very hard to achieve success.
Furthermore, remember that these “winning” individuals need to ultimately fit within the culture of your company. Just because they are qualified and may be a great applicant does not necessarily mean that they are a right fit for the environment that you have created and want to maintain – it’s all about finding a balance and winning formula.
Unearth Those Hidden Gems
At my company we have a four step vigorous interviewing process, where we have candidates interview on the phone. We tend to hang up on people or tell them they could never work here – if they call back they past the first test. We tell many good people NO and only the hire the best. IF they still call back then maybe we have something. It’s all about MATH and so is my hiring process. In sales it takes Five no's before they hear a yes and the average sales person quits after the third no. So why would I hire a person who gives up? (I wouldn’t) Persistence and determination alone are omnipotent.
The last step is when they get to meet me, if in fact they actually get to this step I can’t wait to meet the rock star. These steps help us find a very specific type of personality and demeanor, while giving a sense of how the person handles multiple situations and social interactions. May the overly optimistic reader who has stumbled onto my secret hiring technique take heed…the same standards or instincts used to hire people also are used to fire people. When individuals don’t live up to the standard I have or the culture I have created, they must go and if your gut tells you to fire someone, just do it right away. Implement a hard hiring/firing policy and follow it through to the end!
Your Own Rock Star Culture
To be the best you need to hire the best, or whatever the colloquial axiom is these days. It is paramount that you make sure your culture contains people are or strive to become the top experts in our industry. To flourish you must add more value than anyone else and have the ROCK STAR team of people that customers or clients want to see perform. Utilizing these above steps and this overall process has helped me develop my company into a prospering culture and a well-built team. Conversely, a well-built culture can be vulnerable – every single person in your company has the potential to change your culture for the worst. Hire slow and fire fast. Taking the extra time to accommodate traditions will only help with making greater achievements. Victory is near, your organization needs to find its niche within the industry, so decide what is your best-fit, lead everyone toward the desired objective, and really set yourself apart!
