The workforce is undeniably one of the most valuable assets for any company, alongside financial strength and operational capacity. Consequently, fostering a thriving workplace culture should be an essential aspect of any business strategy.
As key players in the leadership teams of many companies, co-founders have a crucial role to play in building this strategy. Their responsibilities involve creating an empowering environment where all employees feel valued and respected, no matter their age, background, or experience level.
Research shows that empowered employees tend to have higher levels of morale, leading to at least 12% greater productivity. In the healthcare industry, employees who feel appreciated are in a better position to provide patients with the personalized care they need.
So how can co-founders help achieve these positive outcomes? We explore 3 strategies that contribute to workforce diversity and inclusion.
Co-founders develop a workplace culture of innovation
Co-founders are important in taking an initial idea and getting it market ready. This includes developing the company’s mission statement and the values that help them achieve that. If a business hopes to succeed, then diversity and inclusivity should be at the core of these values, which begins with the recruitment process.
Companies should aim to build a diverse workforce of people from different backgrounds who have gone through a variety of experiences and can offer a range of skills and expertise.
Having a diverse workforce also means that companies can generate a wider range of innovative and creative ideas, which will help them put their unique stamp on the industry.
Co-founders create an inclusive working environment
Another key part of a co-founder’s role involves providing employees with the infrastructure, tools, and support to think and work with creative freedom.
From physical workspaces to wellness programs, the working environment should be created with employees’ physical and mental health in mind.
A great example of this in the workplace is some of the strategies used by Kilo Health. They understand that one desk doesn’t fit all, so they’ve adopted a hybrid-flexible model. Team members have the freedom to work in one of seven offices across Europe, from home, or even a combination of the two.
In addition, Kilo Health’s dedicated Experience Manager plays a key role in helping employees find their place within the company culture.
Whether they prefer to participate in fitness classes or relax at the movie club, employees are encouraged to explore and engage in activities that align with their interests and values.
Co-founders ensure their company prioritizes open communication
Making sure employees feel empowered to perform at their best should also include involving them in the running of the company.
Research shows that involving a diverse range of people in a company’s decision-making processes, especially in the healthcare sector, improves team communications, financial performance, and innovation.
“When we come across any issues with our product, structure, execution, or anything else, our first step in problem-solving is communication. We gather together and discuss the problem until we find the best solution, and we always succeed in resolving it. Collaboration and communication are key,” explains Mantas Kondratavicius, co-founder of BoomeranGO!, Kilo Health.
Co-founders should encourage regular employee feedback on working practices, policies and procedures, and how they feel about workplace inclusivity. Employee engagement surveys, focus groups, and one-to-one check-ins should also be introduced, with co-founders sharing how they plan to use these results in their future strategies.
Not only are co-founders responsible for turning a business idea into a market-ready product or service, but a key part of their role is to attract and retain the right talent to help run the company.
Creating a diverse and inclusive workplace is crucial for developing an empowered workforce who will thrive in their roles and help the company become a success.
If you are interested in learning more about a co-founder’s role or feel ready to become a co-founder with one of the world’s leading digital health and wellness brands, check out the Kilo Health Co-found Program.