Company culture is an integral part of business. It affects nearly every aspect of a company. From recruiting top talent to improving employee satisfaction, it’s the backbone of a happy workforce. Without a positive corporate culture, many employees will struggle to find the real value in their work, and this leads to a variety of negative consequences for your bottom line.
According to research by Deloitte, 94% of executives and 88% of employees believe a distinct corporate culture is important to a business’ success. Deloitte’s survey also found that there is a strong correlation between employees who claim to feel happy and valued at work and those who say their company has a strong culture.
There’s a reason why companies who are named as a Best Place to Work see so much success. These organizations tend to have strong, positive corporate cultures that help employees feel and perform their best at work. Research gathered by CultureIQ found that employee’s overall ratings of their company’s qualities – including collaboration, environment and values – are rated 20% higher at companies that exhibit strong culture.
But why is corporate culture such an important part of a business? Take a look at some of the benefits of a positive company culture:
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Recruitment. Many HR professionals agree that a strong company culture is one of the best ways to attract potential employees. A positive culture gives an organization a competitive advantage. People want to work for companies with a good reputation from previous and current employees. A company with a positive culture will attract the type of talent that is willing to make their next workplace a home, rather than just a stepping-stone.
- Employee loyalty. Not only will a positive culture help recruitment efforts, it will help retain top talent as well. A positive culture fosters a sense of employee loyalty. Employees are much more likely to stay with their current employer when they feel they are treated right and enjoy going to work every day.
- Job satisfaction. It’s no surprise that job satisfaction is higher at companies with a positive corporate culture. Employers who invest in the well-being of their employees will be rewarded with happy, dedicated employees
- Collaboration. Employees are much more likely to come together as a team at companies with a strong culture. A positive culture facilitates social interaction, teamwork and open communication. This collaboration can lead to some amazing results.
- Work performance. Strong company cultures have been linked to higher rates of productivity. This is because employees tend to be more motivated and dedicated to employers who invest in their well-being and happiness.
- Employee morale. Maintaining a positive company culture is a guaranteed way to boost employee morale. Employees will naturally feel happier and enjoy their work more when they work in a positive environment.
- Less stress. A positive company culture will help significantly reduce workplace stress. Companies with a strong corporate culture tend to see less stressed employees, which helps boost both employee health and work performance.
One great example of a positive company culture comes from Sweetgreen. This fast-casual health foods restaurant believes that the most important ingredient to success is a positive company culture. Sweetgreen promotes a positive corporate culture by offering special perks that help boost positivity and morale throughout the company.