The importance of corporate culture
For every brand, organisation, or company that readily comes to mind, there is a unique personality that one can use to describe them. Brands like Google, Apple, and other big industries have a unique social and psychological workspace environment.
We refer to this as ‘corporate culture’ , which reflects a company’s shared practices and values. Simply put, corporate culture tells you how the employees of a company act, feel, and think about where they work. It further expresses a company’s core values, ethics, behaviours, and standards.
Without mixing words, the success of an organization largely depends on its corporate culture. Employees are central to upscaling an organization. If the values, ethics, and standards of a company are what we would describe as great, here is what a company stands to gain from having a great corporate culture:
- Healthy Workforce: If the workplace environment is not positive, then there are bound to be existing problems in communication and the productivity of such a place. An organization that is concerned about the welfare of its employees would do better than one that is not. An organization’s culture that is focused on maximizing employees’ personal and professional lives would have a healthy workforce. Employees put in their all for a company whose interest is at heart through values that protect them against bullying in the workplace, work-life balance lifestyle.
- Bolstered Productivity: Statistics show that most employees spend more time in their workplace than with family or friends. If a working environment is likened to a family-oriented atmosphere, it makes employees see their workplace as a place to be with employees being in a place where they are relevant and appreciated their productivity increases. Also, training employees, giving them feedback, and rewarding them is a way for employees to remain productive. A company with a great organizational culture that encourages excellence would experience all-around productivity from its employees, leading to the company’s success.
- Brand Awareness: Employees are part of a company’s image. In a deeply social world, people are quick to perceive if a company has a great corporate culture or not. A few interactions between a company’s employees and the public can reflect how they see where they work or if they love where they work. Not only would this tell on the image of the company, but it would also be a determining factor for future employees looking to work with such a company. Another thing is the higher retention rate of employees, as they would want to stay for as long as they could, contributing to the company’s growth.
- Higher Profits: A healthy organizational culture plays an important role in a company’s revenue and profit ultimately. Suppose a company prioritizes its employees and shows how deeply concerned it is with its growth. In that case, such a company will get its reward in the form of profits accruing from the high productivity of its employees. Summarily, a company with an exceptional corporate culture would have its miles ahead of others and take it to extra levels of success.