Company culture has a more significant impact on the business than many people think. Keep reading for more information on how improving culture can improve your business.
Company culture matters. Businesses with strong, healthy corporate cultures end up attracting the best talent and keeping them longer. Today, millennials are shaping what’s important in the workforce; after all, they now make up more than half of the workforce. What do they care about? Culture. Forbes reports that this generation values company culture more than any other population that’s come before them. That should make your company stand up and pay attention to culture—and how you can improve it.
Why Culture Matters
Culture is the working environment that affects every employee in your organization. It’s the beating heart of your organization, and it impacts morale and productivity. The idea of a positive culture in the workplace has been around for years, but with the rise of the millennial generation, it’s an idea that’s taken hold.
According to the research, the benefits of strong company culture can include:
- Higher productivity
- Greater innovation and creativity
- Higher profit
- Better morale
- Lower turnover
- Longer retention
- Increased ability to attract new talent
- Improved experiences for your customers
How to Improve Your Corporate Culture
Company culture is made up of the organizational values and beliefs, along with behaviors that occur within your four walls. It is both written and unwritten, concrete, and the “vibe” that permeates your office. The first step toward changing your company culture is to define it. Look around at your company to determine the tangible and intangible culture norms that permeate your organization.
Studies show that today’s workforce value a positive corporate culture, sometimes even overpay. According to the data, the average millennial would give up more than $7,000 annually to work at a place that had a positive work environment. This work environment can affect employee retention and recruiting in a big way, so it’s important to look closely at what you can do to improve your work environment. Here are some tips:
- Establish strong corporate values and integrate them into everything you do. Values like honesty, trust, transparency, and work/life balance are particularly important to attracting millennial talent.
- Seek feedback from workers and management and listen closely to what they say. Don’t make decisions at the top in a vacuum; instead, seek employee input to engage them in the success of the organization.
- Provide feedback in an open, positive environment. Don’t just wait for the annual review; instead, manage performance with 360-evaluations across the organization.
A poor or negative corporate culture can change, but these initiatives start with leadership making subtle shifts in how the organization functions. Talk about culture. Start conversations about why it matters, where the organization is now, and where you want to be.
If you’re worried the company culture is hampering your efforts to attract top talent, perhaps bringing in fresh energy into the organization could change the work environment. That’s where PrideStaff can help. We can find you the right people to fill the seats on your bus that will create a positive ripple effect across the organization. Contact us today and start your culture-fit hiring initiative!