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How Important is Company Culture to  the Bottom Line?
Blog / Business Culture / Sep 27, 2019 / Posted by Ann Zaslow-Rethaber / 888 

How Important is Company Culture to the Bottom Line?

10 comments

Today, company culture is an integral part of a brand, so much so that it’s difficult to talk about one without the other. Beyond the vacation time and benefits, it’s a presentation of what your organization stands for and ideally represents an environment of transparency, enthusiasm, and support.

According to Gallup, companies with a rich culture and commitment to employee happiness consistently surpass industry benchmarks and significantly outperform the competition.

In this blog, we’ll analyze the impact of company culture on a business’s bottom line.

Productivity

High-performing employees are almost exclusively those that feel valued by their superiors. However, creating a sense of value isn’t that simple—it stems from being heard, given the power to make decisions, and receiving feedback on one’s performance. Accomplishing this is only possible by developing open lines of communication as well as a culture of active engagement and participation from the employees.

Such a strategy combats stagnation and stimulates creativity. Employees who feel appreciated tackle new challenges with positivity and energy. They’re more likely to come up with innovative ways to solve problems rather than glancing at the clock and waiting for their shift to end.

Reduced Absenteeism

Does it come as a surprise that not every employee who calls in for a sick day is actually sick? It shouldn’t. Absenteeism is a clear sign that your employees don’t love what they do. In fact, some of them probably dread coming in to work every day.

The way to combat this problem, while benefiting the bottom line, is to put yourself in your employees’ shoes. Would you feel excited to come to work every day? If not, then something needs to change.

These aren’t difficult questions; it’s just that not many businesses are asking them in the first place, so the single biggest obstacle to bottom-line profitability…..(attrition rates)  continue.

Environment

It’s no secret that employee turnover can be pretty expensive, especially if your company provides specialized services that require specific skill sets. That’s why creating an attractive and appealing environment is so important. Environments that produce excessive stress or noise and where privacy isn’t taken seriously can seriously impact employees’ state of mind.

There’s an on-going debate raging on whether open office spaces or cubicles are better. However, each workplace is different and worth investigating. Ask for feedback from your employees—after all, creating a positive environment is more about making them feel comfortable.
Company Culture

Strongly consider offering the opportunity for your employees to work virtually, at least part-time. There are so many benefits to this, and by being flexible on traditional 9-5 expectations you can dramatically increase your candidate pool.

In today’s candidate-driven job market, where the demand for applicants exceeds the supply, companies would be wise to invest some time into evaluating their company culture. If it is not awesome, make some changes. Time and again we see high performing candidates juggling multiple offers, and the majority of the time, culture wins.

 

 

    About Author

    A recruiter since 1996, president of International Search Consultants, a global executive recruiting firm launched in 1999. ISC has become one of the country’s most reputable search firms, earning more recommendations on Linked In than any other 3rd party recruiting agency in the entire country.

    Comments (10)
    0

    Job Tawiah commented...

    Very nice and superb article

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    kabir abiodun ganiyu commented...

    I always enjoy your write up because you always hit the nail on th head.

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    Faith Davies commented...

    I like the idea of virtual working. Great piece.

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    Anna Andzutsi commented...

    Very incredible article on how buttom line culture increases productivity.

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    Akililu Admasu commented...

    that is interesting, A strong corporate culture helps you to attract and retain top talent, promote your brand, boost employee engagement, increase productivity, and distinguish your organisation and its products/services from your competitors. It plays a key role in customer satisfaction and determines your company’s reputation.

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    Catherine Kaisi commented...

    Great article and I enjoyed reading .

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    fatima danja commented...

    Working at a time you choose for yourself makes you love what you do. Great piece Ann.

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    Nonde Simwinga commented...

    This is an amazing article, that talks about today’s realities and work environment culture, bravo.

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    JEREMIAH IORZAA commented...

    This is an eye opening article to every Manager, Applicant and Students of Management Schools.

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    Acha Asaha commented...

    High-performing employees are almost exclusively those that feel valued by their superiors. However, creating a sense of value isn’t that simple—it stems from being heard, given the power to make decisions using the right tools and resources, and receiving feedback on one’s performance.

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