Organizational culture is essential for the success of any company. Especially today, culture is a significant differentiator that sets your company apart from the competition. Culture is what makes your company unique and a desirable place to work.
Good company culture can attract and retain the most skilled employees and bring in the right customers. What’s more, more than 30% of the workforce today is made up of Millennials who want to be part of a company that shares their values. What Millennials value the most? It’s a purpose at work, a good benefits package, and a positive working environment.
Let’s take a closer look at why building company culture is crucial for the success of your business and tips on how to improve it.
What are the Advantages of Good Organizational Culture?
Here are 4 reasons why organizational culture in the workplace is essential to the success of your company.
Culture is what makes your brand unique
Good company culture can help your brand stand out in a crowded marketplace. Companies that want to obtain long-term success, must build a unique culture brand that is aligned with how employees want to be treated and work with one another.
Bad publicity about your company culture can be detrimental to your brand. Companies like Uber and So-Fi recently made the wrong kind of headlines with reports of harassment and internal cultures based on fear and contempt. The bad publicity resulted in So-Fi’s CEO stepping down and the company’s proposed IPO set back by 12 months.
Customers want to buy from a reputable brand. If you establish your company as a place with a great organizational culture, they’ll want to buy from you. They’ll connect with your brand and grow to become loyal customers.
Culture increases loyalty among employees
You want your employees to be eager to come to work. Why? Because employees who love their job are more loyal and dedicated. Companies with a strong company culture have employees who like the challenges of their job, get along well with their co-workers, and enjoy the ambiance of the workplace.
When employees are loyal to your company, its goals, and each other, they can make magic happen. Like trust, loyalty is equally efficient. Loyal employees can create a system where everyone can focus on the task at hand without having to watch their backs or look out for their own personal interests.
Culture makes advocates out of employees
When your employees are happy at work, they are more likely to share the good news with others. They’ll spread the good word about their positive experience with your company, and you’ll soon be recognized as a reputable company.
If you want to make advocates out of employees, you need to encourage them to speak positively on your brand’s behalf. Not only will they help you find the right candidates to hire, but they will also help you bring in more loyal customers.
Culture attracts and retains talent
A good salary might get employees through the door but culture fit is what will keep them working for your company. Employees who align with your company culture are more likely to stay with your company long term and contribute more to the success of the organization.
For this reason, employee retention must start with clearly articulating to employees what the organizational culture is. What aligned values, beliefs, behaviors, and experiences make up the company’s environment? Investing in the right employees who align with your company culture is essential as turnover costs are estimated to range from tens of thousands to two times the candidate’s annual salary.
Company Culture Ideas
Still not sure how you can build your company culture? Here are some ideas to help you.
Invest in employee perks
Do you know what Facebook, Google, and Netflix have in common? They are all sought-after places to work because of their outstanding employee perks. Here are some unique and inexpensive employee perks you can incorporate into your company:
- Flexibility. Flexibility is important to employees. Having the option to work remotely, have flexible hours, and work on a part-time schedule, can be a great way to boost their work/life balance.
- Student loan and tuition assistance. Today, hundreds of companies are offering student loans and tuition assistance to their workers. This is a new and very important benefit that is going to grow rapidly over time.
- Free wellness classes. If your company has an unused office space with some fitness equipment, employees will regard this as a sign that you care for their wellbeing.
- Free food. Having access to healthy meals, snacks, and beverages can increase the well-being of employees.
Encourage team connection
By encouraging team connection, you’ll keep your team cohesive, effective, and trustworthy. How? You need to allow your employees time to get to know each other. The easiest way to do this is through:
- Small group dinners.
- Team-building getaways.
- Regular meetings.
- If your team is using collaboration tools, have random chats open where employees can discuss everyday stuff and send each other funny gifs.
Reward employees for their outstanding performance
Never forget to celebrate milestones with your employees and congratulate them for their efforts. Instead of simply moving on to the next task, take a moment to recognize their accomplishments.
Every time an employee accomplishes a goal that aligns with the strategy, you should acknowledge their achievement. Here are a few examples:
- Say them “thank you” in front of peers.
- Offer the employee a day off with pay.
- Give them a work-from-home day.
- Give them a small gift card.
- Buy them a gift basket.
- Have a “thank you” meeting.
In addition to your thoughtful informal methods for recognizing and rewarding employees, another great idea is to create an employee recognition program. Recognition programs have led to increased employee engagement, reduced annual voluntary turnover, and employer savings.
Final Word
Your good company culture will influence how your employees and customers perceive your business. Invest in cultivating a positive culture that will enhance the well-being and talent of your employees. Building a strong company culture is one of the best ways to encourage your employees to invest their talent and future with your organization.
