Great culture is good business
1. Employee retentionOne of the major characteristics of a good company culture is a high employee retention rate. Employees who are happy and satisfied are likely to stay at an organization. Employees don’t want to be a part of an organization where they feel unappreciated for their contributions to the company. Ultimately, it can result in higher rates of employee turnover.
2. Quality applicantsThere's a lot of budding talent out there, looking for the right workplace to apply their skill sets and earn experience. In this case, good company culture comes into play. By keeping your current employees satisfied, they spread the good word about your organization to attract a higher rate of new talent.
3. Job satisfactionJob satisfaction is one of the major indicators of a good corporate culture. It’s one of the key elements that employees use to decide whether they want to work in your company or not. Therefore, business owners who invest in the development and well-being of their employees are more likely to succeed in the long run.
4. Successful teamworkAnother indicator of a healthy workplace environment is open communication, real social interaction, and strong team work. When people come together and work as a team, great things can be achieved. It's a famous adage for a reason: Team work makes the dream work!
5. Improved productivityProductivity is a key measurement of every company or team. Employees are more motivated and dedicated to their job when they work in a great organizational culture. Ultimately, motivated employees are more focused, which leads to improved productivity.
6. Employee mental healthSome of the main factors that commonly cause work-related stress include: long hours, job insecurity, tight deadlines, difficult relationships, big changes within the organization, and lack of autonomy and a lack of support. A good company culture reduces workplace stress and helps boost employees’ health. Organizations with a positive and supportive work environment are less likely to encounter issues related to stressed employees.
7. Diverse workforceHealthy companies are diverse. Diversity includes: gender, religion, ethnicity, age and disability. When people embrace the differences of others it improves retention and reduces the costs associated with turnover. In a diverse workplace, employees are more likely to remain loyal, when they feel respected and valued for their unique contribution.
Final thoughtsGreat culture really is good business! You and your employees deserve a quality work environment that supports satisfaction. By investing in your people, they will be happier and more motivated, their productivity will impact the organization as a whole to find success. Don't allow one person to negatively affect the team. Keep close attention on factors like: stress, inclusion, retention, social interaction, and productivity. If you see one of these elements being impacted, then take action quickly, while the issue is still small.
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