Company culture changes the way your organization performs. In 2017, Deloitte conducted a survey, which found that 94% of executives and 88 % of employees believe that positive company culture is essential to the success of any business.
If your company culture is negative, it will reduce staff retention, attendance, and lower productivity and morale. Improving communication can enhance recruitment and engagement. Your workers will feel satisfied, and employees will pass their happiness on to your clients, resulting in increased profits.
Why is Company Culture Vital?
Company culture is the social order that exists in the workplace, which affects behavior, work practices, and communication between workers and leaders. Positive company cultures have their roots in honesty and are enjoyable for employees. Happiness encourages workers to do their best. Leaders look for problematic structural issues and solve these problems.
Beneficial company culture includes how your workers view your business. Employees understand the business mission and have the same goals as the organization. Investing in improving company culture leads to job satisfaction, high retention rates, and business growth.
Excellent company culture means your company has:
- A better reputation
- Good employee health
- Growth and Longevity
- Lower absenteeism
If your culture is poor, your company will have lots of absences, disengaged workers, high turnover, and poisoned relationships. Profits are then affected.
Lousy company culture includes:
- No empathy
- No Flexibility
- No motivation
- No clear processes
- Poor leadership
- No communication
Studies have told us that there is a relationship between the wellbeing of employees and positive company culture. Wellbeing is crucial for high performance at work. Abundance for all is about worker happiness that includes good physical health, robust mental health, job security, and positive emotions.
Wellbeing programs have beneficial effects:
- Improved health and safety
- More productivity
- Less anxiety
- Lower absence rates
- Better staff retention
- Easier recruitment
- Improved company reputation
- More brand advocacy
How to Invest in Wellbeing?
Many businesses have already understood the benefits of spending money on staff wellbeing. Some may be reluctant due to cost. Improving wellbeing does not have to be expensive. Ways to invest are:
- Make sure your values and objectives are the same as your employees.
- Listen to your workers’ opinions. Engagement through communication means employees feel valued.
- Provide incentives for fitness. The British Council found that 45% of employees have a stressful journey to work. The government started a cycle to work scheme where workers could buy cycling equipment at discounted prices.
- Effective communication is vital. Workers feel valued when they understand the company goals. Any communication strategy must include deskless workers who can feel isolated and think they are missing out on news and benefits.
- Offer options for flexible working, which can interest more high caliber staff. There is a rise in remote and freelance employees who also need to feel part of the company.
- A healthy work-life balance increases worker happiness. You need to provide regular breaks or buy a game console for the rest area or allow office pets.
- Give incentives such as free fruit or reduced gym membership. Saying thank you for a job well done improves morale.
The most significant factor in creating a positive company culture is effective communication between leaders and workers. Build a business that your employees are proud to be a part of, and you will have success.