A positive company culture should underpin all business operations, improving employee relations, increasing staff wellbeing and driving organisational performance.
Company culture can be defined as a set of standards, principles and conducts shared and adhered to by members of staff within an organisation. An organisation with ‘positive’ company culture is generally described as a workplace in which employees feel valued, supported and empowered. In turn, it becomes an organisation that people are genuinely happy, proud and motivated to work for.
But why is company culture important, not just for staff, but for employers, too?
Building a sense of purpose.
The most obvious component that comes to mind when attempting to define company culture is the set of values that individuals working at an organisation share.
A 2022 McKinsey and Company research piece showed that 70% of employees say their personal sense of purpose is defined by their work, and that when their work feels meaningful, they perform better and are much more committed to their role. The same research also went on to show that a sense of purpose at work made employees almost 50% less likely to look for a new job.
In other words, by creating meaningful roles, defined and shaped by a set of values that matter to the people working in them, companies can extract maximum value from those roles. Moreover, they can ensure they’re filled for longer, too.
Supporting development through recognition and advancement.
It goes without saying that we all like to be rewarded for hard work, and opportunities for advancement or upskilling can be a deciding factor in many people’s decisions to take a job. In fact, 59% of millennials claim development opportunities are extremely important when deciding whether to apply for a position.
With this in mind, its vital that organisations are doing everything they can not only to reward achievements in the workplace, but to actively support their people to network, learn and build their skillset as they work.
Cultivating community.
Probably the most intangible, and yet arguable the most crucial element of a positive corporate culture is fostering a sense of belonging through community building in the workplace. Its impractical to assume that every one of your staff will be best friends, but its vital to encourage working relationships that are built on support, learning and empowerment.
According to the Harvard Business review, a high sense of belonging is linked to a 56% increase in job performance, a 50% drop in turnover risk, and a 75% reduction in sick days. Not only is helping employees feel like they belong an ethically sound thing to do, it improves your bottom line, too.
Leveraging company culture to drive performance.
Ultimately, the basis of a positive company culture comes down to building a positive, supportive and connected community. Employees are motivated to work hard and perform well for their community – not a corporation.
Therefore, by providing your people with the opportunity to build relationships with co-workers, learn from each other and improve their own professional development, you build a culture of community and a company people genuinely want to work hard for.
At Indigo, we make culture an every day habit in your organisation. By leveraging peer connections to increase belonging, achievement and community-led learning, we help you create a mutually beneficial working environment that can work cohesively at every level and in the round. Get in touch to learn more.