Columnists

Your Company Has a Culture, Whether You Know It or Not

ColumnistsJun 15, 2021

Your Company Has a Culture, Whether You Know It or Not

So why not make it one filled with happy, productive employees, Sherry Smith asks in her latest column.

2021_Sherry Smith.jpg
Sherry Smith is director of business development for data and consulting company The Edge Retail Academy. She can be reached at sherry@edgeretailacademy.com.
I recently read a great article about workplace culture. 

What resonated most was the basic concept of “company culture” always being described the same way—a shared set of beliefs, values, and attitudes that guide your organization. 

It doesn’t get any more concise than that, and it makes it clear that culture goes beyond a company’s mission statement and vision.

In reading the article, I also was reminded of a few of the recurring misconceptions I’ve heard over the years.

I’ll start with my personal favorite: “We don’t have a culture here.” 

It’s not difficult to imagine that some business owners might not believe they have a defined culture, especially if they’ve never put the work into defining it for themselves, their teams, and their customers. 

However, just because you haven’t defined or articulated what your culture is does not mean you don’t have one. 

All businesses have a culture; it just might not be the kind you want or can identify with. 

Your culture impacts every aspect of your business, from productivity (or lack thereof) and employee engagement (or disengagement) to employee retention (or turnover), client-facing interactions and growth (or stagnation). 

When I hear, “We’re never going to be a touchy-feely organization and besides, it doesn’t affect the bottom line,” it makes my blood boil.

Another misconception is that culture is about everyone getting along.

As many of us know all too well, retail environments don’t always lend themselves to peaceful and harmonious ecosystems. We naturally experience ebbs and flows, as success is celebrated, and disappointments pondered. 

Our teams can enjoy good days, when everyone seems to be pulling in the same direction, and more challenging days, when we must contend with a little tension in the ranks. 

Culture is much more than how people interact. It is formed by management behaviors and practices, by clarity of roles and expectations, by group successes, and by the health of relationships between staff and leadership.

It is revealed in how colleagues treat each another, especially when they disagree. And it is in how the business facilitates healthy debate and disagreement while still providing a psychological safe space for team members. 

 Related stories will be right here … 

Culture drives performance.

When I hear, “We’re never going to be a touchy-feely organization and besides, it doesn’t affect the bottom line,” it makes my blood boil. 

Research shows that detached or disengaged employees cost you an average of $20,400 per year. 

They’re less likely to work hard, feel motivated or meet expectations for their role. In fact, approximately 73 percent of actively disengaged employees are on the lookout for new jobs or opportunities.

Conversely, employees working in a strong, positive environment will thrive. 

According to a Harvard study of more than 200 companies by J. Kotter and J. Heskett, a strong culture will increase a company’s net income 756 percent over 11 years. 

Another study by Performance Indicator found that 94 percent of employees with great managers reported being more passionate about their work. 

On the other end of the spectrum, 77 percent of employees with bad managers hope to leave their current jobs.
In his best-selling book “The Culture Code,” Daniel Coyle writes that business leaders can learn to dial into behaviors that create an extraordinarily effective culture.

Here are seven steps toward creating an extraordinary culture.

1) Dedicate the appropriate amount of time to lay out your core values, as these will be the foundation that guides your organization.

Include your employees to make sure that everyone is aligned, including leadership and management. Use survey tools, such as SurveyMonkey, to solicit feedback from your employees in the development process as well as going forward.

2) Set clear goals and outline the objectives so team members have a clear understanding of what they’re working toward. This will not only help guide individual performance but will encourage collaboration and teamwork.

3) Communicate your action plan and be transparent. A lack of transparency creates a secretive environment and a lack of trust.

Full transparency, meanwhile, contributes to a more collaborative environment where employees are more likely to share ideas with each other. Studies have also shown that a transparent work environment leads to happier and more engaged employees.

4) Celebrate wins, even the small ones. Most everyone benefits from affirmation and recognition. Rewarding employees for outstanding performance or a cost-saving suggestion makes employees feel valued, encourages them to continue performing, and motivates others to up their game.

Also, friendly competition leads to better results. Gallup determined companies that recognize and celebrate employee wins experience 50 percent increased productivity, 44 percent higher profits, 50 percent higher customer satisfaction and 13 percent less turnover.

5) Invest in employee development. When you invest in your employees, you attract and retain great employees. Investing in continual learning shows you care, increases innovation and performance, and improves engagement and employee loyalty.

Consider, for example, offering rewards for conference attendance or a small budget for books.

6) Make time to retreat. Offsite events for your entire team can be instrumental in the growth of your organization. These retreats can range from a one-day event to a weekend retreat and are designed to foster an environment to brainstorm, discuss and overcome challenges. Plan out your year based on your team’s input.

7) Consider serving your community. Choose a favorite charity or two and get involved. Communities love when their local businesses give back. Social responsibility contributes toward a positive identity and helps you stand out.

While there are many more things you can do to create a positive workplace culture, the above suggestions are a great place to start.

I leave you with this thought.

Author Simon Sinek said it best: “Customers will never love a company until the employees love it first.” 

A strong culture creates a stronger sense of purpose and employee commitment, enhanced trust and cooperation, higher levels of respect around disagreements, and, ultimately, a better bottom line. 

The most successful organizations foster cultures that allow their employees to grow and thrive.

Sherry Smithis director of business development at Edge Retail Academy, the leading jewelry business consulting and data aggregation firm.

The Latest

Hill Management Group
Events & AwardsOct 27, 2025
Hill Management Group Hired to Help Atlanta Jewelry Show

Hill Management Group will oversee, market, and produce next year’s spring show.

Marie Louise’s emerald necklace and earrings stolen in the heist at the Louvre Museum
CrimeOct 27, 2025
Arrests Made in Louvre Jewel Heist

One of the individuals was apprehended at the airport as he was trying to flee the country.

Holiday shoppers in Target
MajorsOct 27, 2025
Target to Cut 1,800 Corporate Jobs

The retailer, which has faced struggling sales in recent quarters, is looking to streamline its operations.

DEBEERS_DAY4_DSC_1023-01_1872x1052.jpg
Brought to you by
DESERT DIAMONDS: The Newest Trend in Natural Diamond Jewelry

From sunlit whites to smoky whiskeys, introduce your clients to extraordinary diamonds in colors as unique as their love.

Bonhams New Bond Street London flagship
AuctionsOct 24, 2025
Bonhams Under New Ownership, Top Executives Replaced

London-based investment firm Pemberton Asset Management acquired the auction house for an undisclosed amount.

Weekly QuizOct 16, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
De Beers Diamond View Zoom machine with monitor
GradingOct 24, 2025
DMIA to Hold Diamond Testing Instrument Demo

The workshop will give attendees the chance to try out and ask questions about three different diamond verification instruments.

Two brooches stolen in the October 2025 heist at the Louvre Museum in Paris
CrimeOct 24, 2025
Video Emerges of Louvre Jewelry Robbers Fleeing the Scene

The footage shows two of the jewelry heist suspects descending from the second floor of the museum and then escaping via scooter.

BTYB10.25_Header.jpg
Brought to you by
Are Earrings an Overlooked Category? What Retailers Need to Know Now

As the holiday season quickly approaches, consider stocking one category that sometimes gets overlooked: earrings.

Wyld Box Jewelry Ray of Light Large Drop Earrings
CollectionsOct 24, 2025
Piece of the Week: Wyld Box Jewelry’s ‘Ray of Light’ Earrings

Founder and designer Rosanna Fiedler looked to a vintage Cartier clutch when designing the sunlight-inspired drop earrings.

Tiffany & Co. Bird on a Rock pendant
FinancialsOct 23, 2025
Jewelry Sales Resilient Despite Struggles at LVMH, Kering

The luxury conglomerates faced a challenging Q3 amid geopolitical and economic tensions.

Cullinan Diamond Mine plant
SourcingOct 23, 2025
Petra Diamonds Turns to Shareholders to Raise Capital

The struggling diamond mining company, which owns the historic Cullinan mine, has launched a rights issue to raise about $25 million.

Million Dollar Hip Hop Watches by Leon Schäfers, Jeanette Lang, Tobias Kargoll
WatchesOct 23, 2025
‘Million Dollar Hip Hop Watches’ Recounts Watch History

The book details the journey of watches as symbols of hard-earned success in hip-hop for artists like 2Pac, Jay-Z, and more.

Alexis Vourvoulis
AuctionsOct 23, 2025
Freeman’s | Hindman Names New VP, Senior Specialist for Jewelry & Watches

Alexis Vourvoulis, who most recently worked at Tiffany & Co., brings more than two decades of jewelry experience to her new role.

Taylor Swift engagement ring Greenwich St
TrendsOct 22, 2025
The Taylor Swift Effect: Antique Diamonds Edition

The superstar’s August engagement put the stamp of approval on an already hot engagement ring trend.

Rahaminov Diamonds Emerald-Cut Diamond Bracelet
TrendsOct 22, 2025
Don’t Forget These Diamond Jewelry Trends When Stocking for the Holidays

Retailers should offer classic styles with a twist that are a perfect fit for layered looks, experts say.

Fancy vivid purplish pink diamond
AuctionsOct 22, 2025
Pink Diamond, Vanderbilt Jewels to Headline Phillips’ Geneva Auction

The nearly 7-carat fancy vivid purplish pink diamond could sell for around $9 million.

“Storied Diamond Desert Sands of Eternity” engagement ring and wedding band
SourcingOct 22, 2025
In ‘Storied Diamond,’ Jared Jewelers Is Emphasizing the Journey

The retailer’s new collection of engagement rings and fashion jewelry is set with natural diamonds that are traceable via blockchain.

Tiffany & Co. Bird on a Rock by Tiffany High Jewelry Lariat
CollectionsOct 22, 2025
Tiffany & Co.’s ‘Bird on a Rock’ Finds New Perch

Chief Artistic Officer Nathalie Verdeille has reimagined the iconic design in both figurative and abstract creations.

Jewelers for Children Halloween contest
Events & AwardsOct 22, 2025
JFC Kicks Off Halloween Costume Challenge

Five dollars buys one vote toward an industry professional you want to see dressed up as a hero, or a villain, this Halloween.

Hillsborough show
Events & AwardsOct 22, 2025
Hillsborough Antique Show Gets New Owner

Recently acquired by KIL Promotions, the November edition of the public show in San Mateo, California, will be held Nov. 7-9.

Bicolor pink and colorless diamond
GradingOct 21, 2025
GIA Examines Rare Bicolor Pink Diamond

The stone’s two zones, one pink and one colorless, may have formed at two different times, the lab said.

Pomellato Rodeo Drive Flagship Exterior
MajorsOct 21, 2025
Pomellato Brings ‘Global Attitude’ to Rodeo Drive Flagship

Hollywood glamour meets Milanese sophistication in the design of Pomellato’s new store in Beverly Hills, California.

Grown Brilliance NYC Flagship Exterior
Lab-GrownOct 21, 2025
Grown Brilliance Opens First Flagship

The New York City store showcases a chandelier with 1,500 carats of lab-grown diamonds designed by an FIT student.

Douriean Fletcher Messenger Collection
Events & AwardsOct 21, 2025
‘Douriean Fletcher: Jewelry of the Afrofuture’ Opens at MAD

The Museum of Arts and Design's new exhibition features 75 pieces by the designer, best known for her work in the “Black Panther” films.

Sothebys the glowing rose pink diamond
AuctionsOct 20, 2025
Sotheby's To Auction 10-Carat Vivid Pink Diamond

Making its auction debut, "The Glowing Rose" is expected to fetch $20 million at the November jewelry sale in Geneva.

2025_Gemfields logo.jpg
SourcingOct 20, 2025
2 Mozambique Police Officers Killed at Gemfields’ Ruby Mine

They were attacked on Oct. 15, as approximately 40 miners without licenses marched on the mine’s gate.

Empress Eugénie’s pearl and diamond tiara
CrimeOct 20, 2025
See the ‘Priceless’ Jewels Stolen During Daytime Heist at the Louvre

It took the masked thieves less than 10 minutes to steal eight irreplaceable jewels from two display cases in the museum’s Apollo Gallery.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy