Here are some surprising statistics that show the importance of workplace culture and how adding this to your agenda this year, will make sure you are able to achieve many of your business goals.
- 47% of people seeking a new job cite company culture as the main reason for doing so.
- 75% of employees say they’ll stay longer at a company that listens to their feedback and actually acts on it.
- 78% of senior executives said culture is among the top five things that add value to their company
If you want to be part of the Culture Club – have a read of our five steps to creating a healthy workplace culture
Positive workplace culture is what attracts talent, drives engagement, impacts happiness and satisfaction, and affects productivity and performance – all of which directly feed your profit pipeline. A happier workforce makes for a more productive workforce. Fact.
It is widely acknowledged by business leaders that corporate culture influences productivity, creativity, profitability, business value, and growth rates. In a Columbia Business School research study, 78% of executives said culture is among the top five things that add value to their company.
The culture of your business is what makes your business unique and gives it its character and personality – it is the sum of its values, traditions, beliefs, interactions, behaviours, and attitudes.
So, how exactly do you go about achieving that workplace nirvana? Well seeing as you asked, here is my starter for 10 (ahem, well 5 actually!).
- Increase employee engagement
Having employees who are “emotionally” attached to their work and workplace is crucial to creating positive employee relationships. highly engaged employees are less likely to be absent.
- Increase employee retention
Job tenure has been steadily declining over the years and in order to change this, you need ensure that you pay people fairly, provide growth opportunities and above all, ensure that your staff feel safe at work and give them stability and security, particularly important after the last 12 months of turmoil.
- Give the gift of trust and flexibility
Today’s employees want more than a set five-day workweek from the office or the bog standard eight-hour workday. The job benefits that employees currently care about most are those that provide them with greater flexibility including working from home/from the office, three or four-day workweeks, and/or flexible hours where they can complete their work flexibly as long as the work is completed on time.
- Improve communication with employees
While once-yearly performance reviews used to be the standard, a more progressive form of employee communication/feedback on performance is now required. What today’s workers want is ongoing feedback, clearly communicated goals, and a collaborative work environment which they feel is fair, relevant, and encouraging.
- Build a strong employer brand
Companies today need their employer brand, which is their reputation as an employer, to be as strong as their customer brand. Think of your employees like your customer! A strong employer brand attracts and retains workers, just like you need to attract and retain loyal customers, you need to do exactly the same with your employees. It turns them into advocates for your company and it differentiates you from the competition.
Now you have your easy five step plan, next on your agenda is HOW to implement that plan into your business. If you want to join the culture club, why not book a call with me to discuss how we can help you to either define or improve your workplace culture so that you can reap the rewards of a great workplace culture.