5 Reasons Why Company Culture Matters
Company culture plays a huge role in the success of your business. While your company’s culture will naturally look different from another’s based upon the goals for the business, you can also expect that certain elements will remain the same. In an ideal business environment, the employees should feel as though their actions matter, and every person should feel like a contributing member of the team. As you focus on what makes working at your business unique, keep these benefits of a positive company culture in mind for improving the bottom line.
Keep Productivity Levels High
Happy employees tend to be more productive. Not only will they show up to work on time and have fewer sick days, but there also tends to be more collaboration among coworkers that increases everyone’s ability to hit their goals. A positive company culture also makes coworkers more eager to share their skills and engage in training experiences that help them manage their responsibilities better.
Recruit Top Talent
Your company’s success depends upon you being able to bring in people with the right personalities and expertise to get things done. Today, the top talent in many industries have their pick of employers, and they are often scouting out the company culture just as much as hiring managers are reviewing their resumes. During their tour of a prospective office and interview, people often inquire about things such as growth opportunities that let them know if it is a positive place to work.
Retain More Employees
Hiring and training employees cuts into profits. Not to mention, productivity always increases when everyone at your business has been there long enough to know how to perform well in their position. In a negative company culture, the turnover rate is high for employees, and the morale is low. Employees who feel valued and know that their hard work is recognized and appreciated tend to stick with their companies, which helps both parties thrive.
Cultivate a Positive Reputation
Brand awareness involves more than just marketing your business to the public. People also hear about things that revolve around the company culture. For instance, people within specific industries often share information with others about what it is like to work for a business. In fact, sites such as LinkedIn provide a space for people to network and provide insights about their experiences as employees for businesses. When people hear about a company with a great culture, they tend to be more interested in working there as well as exploring the products and services that they offer.
Improve the Customer Experience
Each member of your team plays a role in creating positive customer experiences that drive growth. Even if they never set foot in the corporate headquarters, customers can often pick up on a negative culture that causes employees to provide lackluster experiences. For instance, a customer may pick up on a negative tone when they reach out to customer service, or someone might receive less than perfect services from a disgruntled employee. When everyone is happy to be working for your company, the customers will notice and be excited to continue to use your company’s services.
When a company invests in developing a positive environment for the employees, the business thrives. Make sure to regularly check in with your employees and use their feedback to incorporate policies that inspire everyone to reach their highest potential.
starting Your Business
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Expanding Your Business
If you are an existing business with annual revenue of up to $1 million or have more than $1 million in revenue and/or 10 or more employees, NJSBDC can help you expand your market share as a company and grow your vision into a successful company. Become a client and see how.