Many businesses are investing in company culture. Massive brands like Google and Apple have emphasized their corporate culture and work ethos.
Many organizations believe that today’s corporate culture affects almost every business area.
Besides that, It is a competitive advantage for the company and a source of stability, longevity, and perception.
Why is company culture influential?
Strong company culture may affect employee retention.
If you are still not sure about investing time and energy into building in company culture, we have four main reasons to change your mind.
Keep reading to find the reason why!
Raising Employee Productivity
Investing in a strong, positive, and empowering company culture delivers better productivity and performance from employees.
According to a study by the Corporate Leadership Council, employees who engage with the team may tend to become 20% more productive.
With this fact, employees will achieve high motivation and confidence to work at their best. It’s great for your bottom line.
Investing in company culture can influence something bigger for employees in the future. Moreover, it shows your company to have a stronger competitive advantage than others.
Ability To Attract Top Talent
Attracting top talent is essential to building the best teams. Nowadays, candidates will always find companies with positive reputations.
Besides that reason, they also seek a place where they can grow and share a vision of purpose. They hope to grow together with the company.
If the company may find it challenging to offer this opportunity, the candidate may prefer another company.
According to research by LinkedIn, 75% of candidates research a company’s reputation and brand before applying.
Hence, corporate culture is more than an excellent recruiting tool. It makes the perfect vehicle to boost your employer’s brand.
Positive corporate culture and branding will attract better and more relevant candidates. It also makes your company stand out among competitors.
You have to consider this point as your company’s chance to present your company’s values in your job offers or during a job interview.
The candidate may have a chance to select your company over any others as it is more trustworthy.
It Boosts Employee Loyalty
According to the Work Institute, turnover has cost US industries more than $620 billion. Also, most HR leaders agree that turnover and retaining employees as their top challenges.
High turnover can cost a company up to a third of the worker’s annual salary. Other than that, every resignation can directly impact morale.
Therefore, once you hire someone, your culture is what keeps them there. People are much more likely to stay when they feel treated right and enjoy going to work every day.
Investing in positive workplace culture makes employees feel valued and fosters employee loyalty.
It is not uncommon for many employers to assume that employees leave their jobs for compensation or other personal reasons.
While the truth is poor company culture, and they didn’t feel a sense of belonging at work. As a result, this affects the bottom line significantly.
Hence, employers must respond to increased turnover by shaping a compelling culture that empowers employees, creates connection points between employees and leaders, and prioritizes inclusion.
It Improves Company Reputation
In this fast-growing digital era, we should never underestimate the power of word-of-mouth. If your company has a positive culture, your employees will share that message beyond your business.
Your employees’ social circles have widened from their “real life” communities to their digital communities. Hence, your employees are often your most significant — and loudest company promoter.
For some companies, reputation is everything. Workers are more likely to speak positively about a company with a solid corporate culture.
It can quickly spread if the staff gets out about a negative culture or a mismatch between values and actions in the company.
To sum up, company culture it’s the company personality that encompasses your values, vision, actions, and workplace atmosphere.
These are just some reasons why investing in company culture is so essential. Investing in company culture is the natural way to boost revenue, improve your branding, etc.
As a result, investing extra time and effort in company culture will pay off and set your company for even greater success.