Each and every company has its own distinct office culture which practically determines whether your business will be successful or whether it will plummet. No matter how many employees you have, the quality of their communication and the strength of their mutual relationships is essential for the overall business success in the long run.
Think of your company as a community – if everyone is working as a team and people are willing to help each other instead of competing with each other, chances are your business will be heading towards progress.
That is why it’s important for you as the head of your company to promote and establish the kind of workplace culture that will bring you several benefits, both now and in the future. In this article we will explore both short and long term benefits of establishing a strong workplace culture.
Company identity and brand building
Your unique office culture is one of the key factors for making your business really stand out from the crowd of competitors. No matter how good your products and services might be, building your company identity greatly depends on the relationships the employees have between themselves and with their work.
Moreover, brand building is one of the primary objectives of every business. If your employees are satisfied with the atmosphere in their workplace, their satisfaction will be reflected in your brand as well. Good office culture directly enhances your brand building efforts, and thus contributes to increases in your sales, as well as customer satisfaction.
Talent acquisition and retention
For every success-driven organization, having talented staff is an absolute must. If people you want to be a part of your collective see just how pleasant and friendly your working environment is, they will likely decide to join rather than turning to your competitors.
In addition, if you nurture mutual trust and respect, the turnover rates which can bring numerous financial and operational disadvantages will be significantly decreased, as everyone will want to stay on your team. If your employees feel valued, they will get that sense of belonging which will make them stick around for a long time.
To be more precise, a study conducted by the Columbia University shows that the companies with poor office culture have a probability of turnover rates of 48 percent. On the other hand, when it comes to the ones with strong office culture this probability is greatly decreased – it is only around 13 percent.
It doesn’t come as a surprise that people who are treated with respect and care will become and remain loyal to your organization. This means that your employees will be inspired to work together towards achieving your mutual business objectives, and that they won’t abandon you when the times get rough.
This sense of loyalty is essential for overcoming any obstacles that may come your way. Having a strong office culture guarantees that everyone will do their best to improve their performance and to work a little harder if the situation calls for that.
If a company’s turnover rates are decreased, its productivity will certainly soar. Naturally, if your employees are satisfied and motivated, they will give much more than the bare minimum when it comes to their performance, which will impact your company’s productivity.
As Rob Markey states in his blog post for Harvard Business Review, “Loyal, passionate employees bring a company as much benefit as loyal, passionate customers. They stay longer, work harder, work more creatively, and find ways to go the extra mile.”
Company culture is crucial for millennials
Millennials are the ones who are expected to shape every business’s success in the future. That is why you should work towards attracting them, since if you fail to do so – your progress might stall. So, if you want to entice them, the best way to do it is by having strong office culture.
When deciding where to work, millennials will always go for a place which offers mutual respect and strong communication, so if you don’t offer such principles, they will likely turn to someone else.
The startup economy is a bit impersonal
In today’s rather impersonal and overly competitive startup economy, the only way to make it is by having what it lacks – strong personal relationships. Having well established corporate culture in your company will differentiate it from the others, improve your production by motivating your staff and increase your profits by attracting new customers.
This will enable you to become recognized in an overly saturated startup market in the future.
Your competition is already on it
If you don’t do it, someone else will! Your competitors will always find a way to discover what you don’t do well, so that they can do it better. The best talents won’t be interested in becoming a part of an organization which fails in establishing a rich company culture.
If you start cultivating this kind of culture right now, in the future, your business will be recognized as one of the best job opportunities, which will enable you to attract more customers and more experts to work for you, allowing you to stay ahead of your competition.
To conclude, these are only some of the advantages you are guaranteed to experience right now and in the long run as well, if you start working on creating a strong office culture as soon as possible. Share your ideas with your team, communicate them clearly, and everyone will likely embrace them, as good company culture benefits everyone.
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