Why Company Culture Matters
The average full-time employee’s workday is over 8 hours. That’s a big investment, so it isn’t surprising that a company’s culture - the atmosphere and energy of the workspace - is of the utmost importance.
Actively encouraging a positive and healthy company culture is a major part of taking care of your employees. It’s not just ethically sensible and easy to do, it’s also one of the best things you can do for your business. Here’s why:
It fosters a sense of purpose
According to the Pew Research Center, only 51% of Americans see their jobs as careers that cultivate a sense of identity while 48% go through the motions from paycheck to paycheck or on their way to another company.
People who identify with their work - who feel connected via a common purpose - are more motivated and less likely to seek employment elsewhere, which means your company retains valuable staff members who produce higher quality work. As replacing an employee can cost 1.5 times that employee’s salary, it’s well worth making sure the work environment reflects that what your employees are doing truly matters.
It builds friendships.
That happiness tops the list in terms of importance seems self-evident, but on a deeper level, happiness is connected to health, creativity, and even one’s earning potential. As humans are social creatures, happiness is also connected to social life. Essentially, work friendships nurture happiness, which in turn improves life for both employee and employer.
A social-friendly work culture means everyone wins: employees enjoy improved health, happiness and opportunity, and companies promote teamwork and better employee engagement. With so much of our week spent at work, friendship between coworkers goes a long way when making the workplace enjoyable and boosting productivity.
Your brand benefits
What’s more important than pay to prospective employees? Quite a bit, actually. A Gallup poll found that Millennials want sound management, stimulating work, and opportunities for learning, growth and advancement from a new job more than they want higher pay. In short, they’re looking for a strong company culture, which you want to be part of your brand.
In the age of social media, word of mouth is more important than ever, and your brand can thrive or suffer depending on how people talk about it, including your employees. Bad work reviews can drive good people away from your door.
Good reviews, on the other hand, not only encourage potential job candidates, but also clientele. People want to do business with companies that treat others well. So go ahead and provide corporate lunch catering and other benefits your company has been thinking about - a cared-for work culture cares for the company.