Workplace culture comes in all shapes and sizes and is never static. Types of Work Culture: The Competing Values Framework The numbers are clear: businesses that create a positive environment are more likely to be successful. Meanwhile, those without the right company culture only grew by 166%. Financial SuccessĪccording to a long-term study, businesses with great work cultures saw an 682% growth in revenue over eleven years. That looks good to potential clients and future employees. And that’s not all! Satisfied workers will also serve as brand ambassadors when they talk about their positive work experiences. According to Oxford University, happy employees are 13% more productive than their grumpy counterparts. Happy employees aren’t just more pleasant to work with. A Strong Work Culture Means Increased ProductivityĪ positive company culture leads to happier employees who feel valued and supported. Businesses can harness the expertise of long-standing workers who have stayed with the company and attract new talent with their positive atmosphere. Employees with a growth mindset will feel empowered to do their best work and pursue opportunities. Workplace Culture Can Lead to a Growth MentalityĪ positive work culture encourages growth at the personal and organizational levels. And that number doesn’t even factor in the expertise and knowledge that departing employees take with them. If your turnover rate is high, your business is most likely spending thousands of extra dollars a year just to keep positions filled. A survey from SHRM showed that the average cost-per-hire is just over $4,000. We’ve already mentioned this, but let’s dig a little deeper. A Positive Work Culture Means Increased Retention Rates How, exactly, will a strong work culture affect your bottom line? Here are just a few of the benefits you can expect to see if you invest in building a strong culture. This means higher retention, reduced absenteeism, and best of all, happier and healthier employees. Furthermore, visible and accessible leaders inspire employees and keep management in touch with day-to-day problems. Promoting diversity, transparency, and understanding can do wonders for a business. Fortunately, there are a lot of ways to nurture the employee experience. Organizations with positive work environments conversely have more productive, loyal employees. They’re also more likely to call out of work and eventually leave the company, leading to sky-high absenteeism and turnover rates. Physically and mentally stressed employees are not only less engaged. A study in Sweden found that employees under “poor” leadership had a 25% higher incidence of heart problems. If you haven’t been thinking about your organization’s culture, chances are it isn’t where it needs to be. It takes thoughtfulness and careful cultivation. In one study, 78% of executives said that culture is among the top five things that make their company valuable- but 84% said they need to improve their work culture.Ī positive work culture doesn’t just happen. Many things influence the company culture, ranging from the work environment (ok, so ping pong tables don’t hurt), policies, leadership, goals, values, and mission. The work culture definition is the attitudes and behaviors of employees within an organization.
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