Company Culture
Company Culture
- Why does it matter?
Company culture is the foundation of every business, and it's a match made in heaven whenever the company's goal and the employee needs align. A strong culture indicates that people are the priority in the company, and they're more likely to enjoy their work.
- What are the benefits of a Company Culture?
- Higher engagement and productivity
When employees are happy, they become more engaged. An analysis showed that companies with high-level engagement are 21% more productive than businesses with lower levels of engagement.
- Greater creativity and innovation
Having employees engaged and productive enables employees to feel inspired and bring innovative ideas. Companies centered on innovation and creativity can have a competitive advantage in the industry.
- Improved morale
Happy employees who are part of a strong company culture that supports and values their employees feel motivated to do their best.
- More remarkable ability to attract top talent
Candidates would be more excited to be recruited at your organization if it has a reputation for having strong values and encouraging growth.
- Higher retention
When you show your employees that you care about them, they feel more committed and valued by your organization and tend to stick for the long run. Engaged employees are 87% less likely to leave an organization, which avoids training costs for new employees.
- Increase in revenue and profits.
Having your employees invested in the company's ideologies and beliefs tends to engage them even more. They'll provide excellent customer service for clients, which can result in higher financial returns.
- Ideas for improving Company Culture.
- Find people who fit.
Hiring people who have the right skills for the designated role and, more importantly, share your company's vision and values.
- Foster more feedback.
Constant channel of communication
- Keep up with changes.
An organization or company needs to adapt to changes instead of locking into rigid practices. This is especially important due to the new generation of employees.
- Recognize contributions.
Apart from channelling feedback through contacts, an organization or company can apply financial incentives and company-wide incentives, such as paid vacations.
- Embrace flexibility.
Flexible working has become increasingly popular since the global COVID-19 pandemic. This means that employees should be trusted with flexible schedules, either as a hybrid or remote working model.