According to research by Deloitte, 98% of executives and 88% of employees believe that company culture is important to a business’ success. A thriving company culture benefits all areas of the organization. Here we will discuss the benefits of having a strong company culture and learn some tips on how to build company culture at your workplace.
Benefits of a Positive Company Culture
- Recruitment: gives the company a competitive advantage in attracting potential employees
- Employee Loyalty/Retention: happy employees equals less turnover, which saves a company time and money in the hiring process
- Job Satisfaction: happy and dedicated employees
- Collaboration: fosters teamwork and open communication
- Work Performance: higher rates of productivity at all levels
- Employee Morale: employees will feel happy in the environment
- Less Stress: reduces overall workplace stress
7 Tips: How to Build Company Culture
- Focus on the wellbeing of the employees: Employee wellness is the foundation for creating a positive company culture. When employees are at their best physically, mentally and emotionally they produce their best work.
- Enhance the current culture: Rather than completely changing the culture, get feedback from employees on the aspects that currently work and those that don’t. Then build on the items that currently do work for your employees.
- Provide meaning: Develop a mission statement and core values. Then give specific examples to employees on how their roles positively impact the company and its customers.
- Create clear goals: Bring everyone together to achieve a specific goal or benchmark.
- Encourage positivity: It is essential to lead by example. Employers should encourage positivity through smiling, expressing gratitude, and staying optimistic during stressful situations.
- Cultivate social connections: Workplace relationships are an essential element to a positive company culture. Leaders should provide employees with opportunities for social collaboration in the workplace.
- Listen: People want their voices to be heard. Being a good listener is one of the easiest ways that employers can start building a great company culture.
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A strong company culture is mutually beneficial for both the company and the employees. Establishing and fostering company culture is also an important aspect in improving the overall health and productivity of employees.