It is no secret that, in recent years, workplace culture has become one of the most important topics for business leaders and HR managers seeking to take their business to the next level.
As mentioned in our earlier blog, ‘HR expectations for 2022′, the concept of “work culture” has radically changed in recent times. Due mainly to the shift in the working environment. The pandemic created a situation where working from home became the norm. Employers are now faced with a double-edged sword where working from home poses both a challenge and an opportunity to rebuild a positive work environment.
What is workplace culture?
There are many definitions of ‘workplace culture’: Forbes, for example, defines it as “the environment that surrounds us all the time”, while others would suggest that it is a “collection of attitudes, beliefs and behaviours that make up the regular atmosphere in a work environment”.
Despite minor differences between these definitions and concepts, there is an awareness of the importance of creating a positive workplace culture.
Ultimately, having a fantastic business strategy and the ‘best’ employees in the world will not matter if your work culture is toxic and inefficient.
According to research, over 90% of executives and 88% of employees believe a strong and positive corporate culture is essential to success. A distinct work culture attracts talent, improves employee engagement and teamwork, and directly affects employees’ performance and work-life balance.
On the other hand, allowing toxic attitudes and negative behaviours to fester can bring an adverse work experience: gossiping, low employee engagement, absenteeism, and high employee turnover are all aspects of a careless work culture that may have profound consequences for the long-term success of organisations.
Why is workplace culture important?
Workplace culture can affect all aspects of a business; if it clicks with its employees, they are more likely to feel comfortable, respected, and supported. Companies that prioritise their workplace culture can often weather challenging times and become even stronger.
So, let’s see why workplace culture can be considered a vital component of a successful business.
1. Attracting talent and satisfying employees
As mentioned previously, positive workplace culture is a significant advantage in today’s business world, especially when attracting talent and improving the company’s reputation. According to research, 77% of workers consider a company’s culture before applying. Almost half of the employees would leave their current job searching for a better culture, even if for a lower salary. This shows how work culture can be considered one of the leading indicators of employee satisfaction. Therefore, satisfied employees will want to stay in their jobs, thus reducing employee turnover and associated recruitment costs.
2. Increasing productivity and performance quality
If employees enjoy their job and look forward to coming in to work, their company culture has a positive impact. Becoming a motivational factor that encourages employees to further invest in and see the value of their work increases employees’ concentration and, consequently, leads to higher productivity and performance quality.
3. Developing a positive reputation
Research shows that 69% of the UK public believes that treating employees well is the most effective way to improve an organisation’s reputation. Companies with solid social principles that support their staff’s well-being tend to perform better and, of course, attract the best talent.
It is not only about your employees but also about your clients. Strong and positive workplace culture can be hugely attractive to potential customers, particularly those with a moral compass. Don’t forget always to treat your employees exactly as you want them to treat your customers!
Healthy workplace culture can create a prestigious reputation for your company and employees. Luckily for you, here at HR Inspire, we have the knowledge and experience in helping businesses promote a positive culture and ultimately help them reach their business goals.
4. Encouraging teamwork
Rather than encouraging competition, a culture of teamwork can create great opportunities for all employees to work together to reach business goals at a faster and more effective rate. Developing a solid sense of teamwork increases communication, collaboration, trust and respect between employees. When the team supports each other, they can get more done and feel more satisfied.
5. Driving financial performance
About 92% of leaders from successful companies believe that workplace culture can help boost an organisation’s financial performance, influencing the way the team performs. Companies are now looking at different actions to improve their culture, such as providing developmental training and creating clear paths for career advancement.
If you want to know more about workplace culture and how to develop it positively, contact our HR Inspire experts!