Feeling fulfilled at work depends on more than just the size of your wage packet – a supportive environment, collaborative workmates and common shared values contribute to job satisfaction too. Cordelia Morgan-Cooper explores the true meaning behind creating a positive workplace culture.
Company culture has become a much-coined buzzword over the past 5 years as igaming businesses have upped their benefits offering and compensation packages to their employees. This comes with the aim of encouraging a healthy work environment, staff retention and of course, being as competitive as possible in the war on talent.
So, what actually is company culture? Forbes has a pretty apt way of describing it – “In a way, it’s akin to capturing lightning in a bottle: Company culture is about the shared norms, values, attitudes and practices that form the collective identity of your company”.
In a nutshell, company culture is the glue that keeps everyone connected within a business.
Companies are increasingly recognising the need for a robust culture that not only attracts top talent but also ensures a conducive environment for innovation and collaboration.
With the rise of Gen Z, we have seen an increase in the importance of a sense of ‘belonging’ for employees. By cultivating a strong company culture businesses can attract the talent that best suits them.
What can companies do to foster a positive culture?
Collaborate
Effective workplace culture in the igaming industry supports collaboration by breaking down silos and encouraging open communication.
When whole departments collaborate seamlessly, the end product benefits from a broad range of ideas and perspectives. This collaborative spirit not only enhances the quality of work but also creates a sense of camaraderie among team members.
Work hard, play hard
The industry is well known for its work hard, play hard vibe. In recent years, since the pandemic, we have seen a shift away from lavish parties and company-wide trips.
I’m talking about the likes of CatenaFest and Betsson etc. Although just a couple of months ago a company flew everyone in the business out to Dubai this year for their anniversary celebrations, now that's extravagant.
Yet, besides there has been a move from affiliates to more of a team building and work culture fostering thought processes behind events and work gatherings. A positive workplace culture understands the importance of work-life balance.
Companies that can prioritise the well-being of its employees, offering flexible work hours (the hybrid, work-from-home, office-centric debate still rages on), mental health support, and recreational spaces, create an environment where individuals can thrive both personally and professionally.
This approach not only reduces burnout but also leads to higher job satisfaction and retention rates. Over the past decade in Malta, we have seen a huge rise in companies increasing employee benefits and as an industry, we were leaps and miles ahead of most other industries in this space.
It's interesting to see that the large office spaces of businesses like Catena Media have recently changed due to business changes though. Perhaps the future will be communal spaces where people can gather but more of a hot desk setup, which removes the need for very big offices, and more of a flexible work set-up.
Diversity and inclusion
The gaming industry has made strides in recognising the importance of diversity and inclusion. A progressive workplace culture actively seeks out and embraces individuals from various backgrounds, fostering a more inclusive environment.
Diverse teams bring a spectrum of perspectives that contribute to a richer gaming experience. By championing diversity, companies in the gaming industry not only align with societal values but also enhance their creativity and problem-solving capabilities. In most businesses that CMC Consulting partners with, we have seen a real emphasis on diversity and inclusion - both with initiatives internally, policies implemented and also with hiring methods.
CSR initiatives
Finding a ‘cause’ and having a company mission are clearly important aspects to fostering a positive work culture and we have seen everything from sea clean ups, charity away days like working at local animal shelters in Malta and charity auctions.
Shout out to Phil Pearson from White Label Casinos for his support for MSPCA to ThisYearsRule - an amazing initiative by Tom Galanis at TAG Media. The initiative provides each team member with the opportunity to use around 20% of their contracted time to the world.
Sounds easy, well not so fast!
With the rise of remote work during the pandemic company culture had to take on a new form.
This of course came with its own challenges which are still being felt now as some businesses chose to adopt a consultant or contractor outsourced model.
Developing, maintaining and supporting company culture remotely is clearly much harder than it is in an office-centric environment. Businesses have needed to invest in team communication tools such as Slack, Teams and Zoom to provide video and messaging capabilities.
In my opinion, workplace culture is a critical foundation block that needs to underpin both the igaming and technology industries. As the sectors continue to expand and evolve, companies recognise that a positive and sometimes virtual culture not only attracts top talent but also drives innovation, collaboration, and overall job happiness.
From fostering diversity and inclusion in digital spaces to embracing CSR initiatives, the online gambling industry is strategically navigating the challenges of the digital realm to create environments where employees can thrive and contribute positively to the world around them.
Cordelia Morgan-Cooper
has over a decade of international HR and recruitment experience. She has developed a passion for driving happiness, wellbeing and success in the workplace, having seen first-hand the impact of an engaged workforce when it comes to both recruitment and employee retention.