Company struggles almost always start with culture. Sales aren’t great? That’s culture. Can’t retain top talent? That’s usually culture too. Clients have a lot of complaints? It’s culture.
Company culture is more than a feel-good afterthought.
Businesses that rely on employees definitely need to focus on culture proactively to get the most productive bang out of your company’s investments and resources. This is something you’ll hear me say a lot because it’s effective.
What is company culture?
Your workplace culture is everything your business does and stands for. It is your brand. Businesses and firms are successful because their people share a common purpose, a common mission, and a common vision with clear established core values.
How does company culture actually impact the bottom line?
This is what my clients ask me most when I bring up company culture… but how will it help me be more profitable or grow? There’s a ton of ways. Here are a few:
Attracting top talent
Top talent has their choice of opportunities, probably with a wide arrange of pay-ranges. What more and more people are looking for is a company that feels good to work for. Culture is a huge reason companies like Google and Apple retain employees even when they don’t necessarily pay more.
Retaining talent
If talent isn’t happy, a paycheck alone will not make them stay. People want to be happy when they go to work. They want to feel like they are making an impact and that their work is appreciated. If it’s just about the paycheck, they will likely leave when someone else offers more. If they like where they work, they are more willing to give up a small change in salary.
Profitable employees
Happy employees get more done, feel like they are owners of their position and take responsibility for the goals they make. Happy employees come from a solid company culture that feels good to work in, collaborate in and celebrate each other. Focusing on your employees’ happiness is your profit.
Less sick days
Ever notice that happy people get sick less? They also tend to take less mental health days. When we are stressed, our bodies take the brunt of the force. Increasing company culture could mean less sickness and sick days for your employees which means more productivity and health for your culture.
Clients love happy employees
Ever walked into a place and felt like the employees weren’t very happy you were ‘bothering’ them when you wanted to give them business? Ugh. We certainly don’t return to a business that feels like that and neither do your clients. Clients like happy employees that represent the brand or the feel of the company. They want to return to places where they feel welcomed and assisted. More clients and return clients mean more business and profits.
Collaboration
We’ve probably all had to work on a team where people didn’t get along. The tension could eat up a room and have people dying to end the meeting and dash out. When your company culture directs the way you work as a team and you are all focused on the same core values, teams can work better together.
Of course, these are just some of the ways that company culture can impact your productivity and profitability. There are many more benefits that my clients have found.
How well is your company doing?
Download this free done-for-you Company Culture Employee Survey. It’s easy to find out what your culture is – just ask the right questions. They are all here. Download it for free. Send it out. Get results. I’ll even help you analyze them and turn them into actionable goals with an optional free call.