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5 Benefits Of A Good Company Culture

Business Resources

May 25, 2020

Business Meeting

Establishing and maintaining company culture is a huge step toward creating a productive, welcoming work environment that gets prospective employees excited to join your team and keeps them excited as they work for your company. While there is no one-size-fits-all company culture definition, these things hold true: company culture encompasses the goals, mission, values, environment, and tone of your entire operation. While every single business has a different ethos catered to their individual needs, there are best practices. You want to make sure that your environment is welcoming, supportive, and enables productivity. Read on to learn more about the benefits of a good company culture.

Benefits of a Good Company Culture

1 | Better Employee Retention

Studies show that companies with a strong culture see more engagement with their employees. In a world where more than half of all workers are reportedly not engaged at work, cultivating a workplace that encourages participation is extremely important. Company culture best practices that can improve employee engagement include opportunities to develop skills and ensuring that you have an outlet for your employee’s voices to be heard.

2 | Higher Employee Retention

High turnover is typically a marker of negative or ineffective company culture. High turnover yields less productivity, engagement, and success—and is very expensive. If your employees feel supported in your company, your retention rates will improve along with overall performance.

3 | Better Reputation

Having a stellar company culture is going to have a positive effect on your business from the inside out. That doesn’t apply solely to employees. When consumers know that a business treats its workers well, they tend to want to support that business. Having a good reputation is extremely valuable, and happy employees are the perfect way to build that reputation.

4 | Greater Employee Fit

When searching for a job, people across the spectrum seek companies whose culture aligns with their values. For example, some love the egalitarian nature of individual businesses, while others prefer a traditional hierarchy. Some people want to see conventionally-styled daily operations while others prioritize an environment that encourages innovation. Having a culture in place will allow the right talent to find you and make your business even better.

5 | Better Business Performance

Company culture is a catalyst for better performance overall. It supports better teamwork, more productivity, and a higher sense of satisfaction. When an employee feels supported within their company, their sense of loyalty to that company increases and they’re motivated to reach higher and work harder.

Business Best Practices

While there’s no such thing as one “correct” form of business culture, here are some tips on how to improve your business culture today.

1 | Establish a Clear Culture

For your culture to improve, you have to recognize the areas that need improvement by considering your goals, values, and mission as an organization. Striving for a respectful, thoughtful, and friendly company culture is a great place to start.

2 | Communication is Key

For everyone in an organization to be a positive part of that culture, they must feel that their voices are heard. Make sure your interns, managers, and shareholders have a say in what they want their workplace to look and feel like.

3 | Set The Bar

To get everyone on board, you and every other high-level employee absolutely must contribute. That’s just the nature of good leadership.

4 | Be Flexible

Once you have a clear idea of how your business should feel, revisiting that idea from time to time will support longevity. Company culture, after all, is a long-term game, not something that can be implemented and forgotten.

Company culture is what makes your company your company. It’s what sets it apart from competitors, encourages talented job seekers to join you, and what enables an excellent environment in which to produce and grow. Consider the benefits of improving your company culture, keep our best practices in mind, and move forward with a sense of dedication to improvement.

If you and your team want to go off-site to work on improving your company culture, our team would love to host you. The Centre Escondido offers beautiful, modern corporate event venues and conference rooms with AV capabilities, multiple break-out rooms, and an incredible on-site catering partner to make your next company culture session a day to remember. Contact our team today to find out more.