The following blog is based on the article posted August 1, 2017, on the website of Women on Business.

Millennials are now the largest age group in the US workforce. What’s more, most Millennials put great emphasis on a company’s culture when considering employment. They want to work for a company with values that align with their own.

Therefore, company culture has become the newest and best selling point for an organization. The kind of culture that companies support and breed matters more than ever.  

With that in mind, here are 5 broad types of corporate culture:

Traditional Culture
This is the old-fashioned approach to the corporate environment. A traditional corporate culture relies on clearly defined roles and relationships between workers. It has a dress code, rigid hierarchies, and typical employee monetary rewards.  Orders are given from the top and then implemented without much room for employee decision making or risk taking. In these types of organizations, procedures are normally standardized and strictly enforced. Due to the face of the new workforce and changing values, companies with this type of culture are likely to have trouble keeping good talent.

Entrepreneurial Culture
A big part of driving an entrepreneurial culture is creating an environment where people can act like entrepreneurs and empower themselves. Companies with an entrepreneurial environment value innovation and encourage risk-taking. This type of culture starts with hiring the right people, nurturing their skills, helping them grow, and keeping them happy by offering flexibility, transparency, open communication and advancement opportunities. It also gives employees a considerable amount of leeway in decision making and risk-taking. Currently, in the fast-moving and competitive technology industry, an entrepreneurial culture is what most organizations strive for.

Social Culture
A company with a social culture puts their employees’ needs first and they’re all about team work and collaboration. Employees have access to professional development programs, training and other benefits that help them grow as individuals and bond with their coworkers. They are often committed to playing together just as hard as working together.  In addition, social company cultures often encourage their employees to participate in charities and other programs for the good of their community. Organizations with a social culture build strong ties among employees to ensure they’re all invested in each other’s success.

Strength-Based Culture
An employment brand that conveys an organization’s strength-based workplace is quite attractive to top talent. A strengths-based brand draws job seekers who are motivated to use and develop their abilities as well as people who are dedicated to performance and thrive in a highly-driven work environment. Connecting strengths to a company’s brand and employee value proposition (EVP) not only attracts world-class candidates but also intensifies the myriad performance outcomes of a strengths-based work environment.

Horizontal Culture
Horizontal corporate culture is common among start-ups because it makes for a collaborative environment and an everyone-pitch-in mindset. Individual titles are not important and the traditional roles of boss and subordinate usually don’t exist. These typically younger companies have a product or service they’re striving to provide and though they have a smaller team size that might limit their customer service capabilities, they do whatever they can to keep the customer happy—their success depends on it.