Do you know what your workplace culture is like? If the answer is yes, then good news; you’re part-way to having the sort of company culture you want. If the answer is no, then we’d best go over a few details utilising our ART insights before getting down to the nitty gritty.
While its become a bit of a buzzword recently, something to fill out the ‘about us’ sections of job opportunities pages, the truth is that having a real company culture (and understanding it) is vital, and can be responsible for a team that does great things or a disengaged and miserable workforce.
Company culture is all about respect and support – whether that’s between colleagues, across departments, or from management down. It’s about being trusted and valued as a workforce and an individual with boundaries. The concept that “your wellbeing matters at work” is becoming more and more important.
In fact, it’s so important that a frankly huge 86% of all job seekers are keeping culture in mind when assessing their options, while 15% of job seekers have rejected offers for roles where the company culture isn’t up to scratch.
That’s not all. Our figures show that employees who don’t like their organisation’s culture are 24% more likely to walk out the door for good, with 57% of employees who left roles in 2021 citing a poor company culture.
Clearly, having a positive culture resonates with employees so it’s no surprise that it leads to to further benefits for businesses. The Harvard Business Review notes that companies with a strong and positive culture have been shown to see revenue increase 4x more than companies with a poor or weak culture. Looking at another angle, disengaged employees who do not have a culture to believe in can cost companies up to around 18% of their annual salary each, while teams with a strong sense of shared purpose can increase their performance by 17%.
The majority of business leaders (some 87%) agree that creating a positive culture in the workplace is the key to success, even more important in some cases than strategy and operations. So, if you haven’t got a positive company culture in place, there’s no time like now to start moving in the right direction.