Building a corporate culture in SMEs pays off

CORPORATE culture is fundamental to the success of any company. It is the emotional glue that bonds an organisation to its employees and customers. For small companies, the need for a successful and effective corporate culture is even more pronounced. Most start-ups and SMEs are cash-strapped and resource-starved, and, unlike their bigger counterparts, do not have an upper hand in the compensation and benefit space.

This challenge is exacerbated by the influx of highly-mobile and hyper-connected millennials who pay more attention to personal growth and want to be rewarded for their hard work. Therefore, companies with an exemplary workplace culture and effective employee engagement initiatives will prevail in the future

However, the art of attracting, managing and retaining outstanding talent remains a challenge among HR personnel and CEOs of start-ups and SMEs as they compete with the big players for talent.