Unicorns aren’t exactly a dime a dozen, but they’re not quite as rare as they once were. Today, private companies with a valuation in excess of $1 billionnumber more than 300, prompting some analysts to look for a more precise indicator of unicorn potential. According to a report from Comparably, that indicator is culture.
Now that Millennials are the biggest generation in the workforce, companies of all sizes are scrambling to align their values with the preferences of this influential group. Millennials favor an increased focus on company culture, which — seemingly unbeknownst to many corporate leaders — has little to do with ping-pong tables and bean-bag chairs.
People value culture because it gives them a reason to go to work besides the paycheck. That said, different people have different priorities with regard to company culture. Across even a small group of employees, you might have some who want to create social change, some who are excited about environmental efforts, and others who are motivated by work-life balance. Gather input to brainstorm how to create a culture that resonates with everyone. Once you have an ideal, the following steps will help you enact it.
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