Research shows that 95% of employees say that culture is more important than compensation. This means that it’s especially important to ensure that your company’s culture is at the forefront of your priorities as a business owner. You want to make sure that your employees are happy – that’s the best way to provide a better overall work environment and customer experience. Boosting morale is key! At Colossus, we highlight the importance of company culture in our onboarding process and seek to create a collaborative environment that fosters creativity.
Having a company that yields a high-trust culture means a lower rate of turnover by 50%! It’s clear that employees who enjoy going to work, who feel that they are treated fairly, are more likely to stay with their employer! In fact, “employees who feel like they’re part of a community, rather than a cog in a wheel, are more likely to stay at your company.” Your employees want to feel like they matter like their ideas and opinions are taken into consideration. A workplace culture that is people-focused is ideal and makes people feel more connected to what they’re doing.
Attracting Top Talent
The success of your company is determined by bringing in people with expertise and personalities that fit easily with the rest of your time. Culture will attract all of the right people. It’s evident that today’s employees are looking for more than a paycheck. Their motivated by a positive work environment! People want to work for companies that promote their company culture and hold their employees at a standard to meet that reputation. Potential new hires who are seeking a positive company culture will flock to apply, especially if there is clear evidence of the importance of culture for your team! (Which is where a killer, personalized social media strategy comes in handy.)
Increased Motivation and Productivity
Job satisfaction is a huge motivator these days. When employees enjoy their work and feel a sense of purpose, they are more likely to put in their best efforts. Wanting to is a much stronger motivation than needing to and this is especially pertinent in the workplace. If you focus on improving your company culture, you’ll find that productivity increases two-fold! Researchers even found that employees are 3 times more likely to give extra on a job when they feel that the company culture exceeds their expectations. This is also true if they’re happy in their role or with their company in a more general sense. Similarly, companies that focus on the value of work and improving company culture consistently outperform their competition.
Company culture has everything to do with customer experience. As your employee’s motivation and productivity improve, so does customer satisfaction. Additionally, with the introduction of the best and brightest talent, you’ll find similar results! Each member of your team plays a role in creating a positive customer experience and driving growth. Having a team of experts at customer disposal is important for providing excellent customer service.
The importance of company culture is clear in all of the benefits that come along with providing a positive one. We as a company strive to make our employees feel seen, heard, and understood! If you want to build a better business, that starts with hiring and retaining solid, hard-working employees. In this, knowing the importance of company culture will be key!