Every organization, from small businesses to large corporations, has a culture. That culture refers to the values and attitudes of employees who work in the business or organization. An unhealthy culture usually features employees who act as individuals, performing their duties to meet their own needs, such as a paycheck or health benefits. A healthy corporate culture values each employee in the organization regardless of his job duties, which results in employees working as a team to meet the company’s and their own personal needs.
Healthy corporate culture improves the performance of a business in a number of areas and makes going into the office or calling in for meetings much more pleasurable. Some areas where culture can help your business include:
In a company that values workers for their contribution to the business, employees experience high morale and a positive attitude toward the company. Workers with a positive attitude are loyal, which reduces employee turnover. Worker turnover has a high cost to a business, with increased costs for recruitment, hiring and training. A healthy corporate culture can help a company retain valuable employees and reduce human resources costs.
Companies with a healthy corporate culture gain a positive reputation among potential workers, which may attract talented and skilled workers to the organization. In addition to attracting high-quality workers, a well-regarded business reputation allows the company to charge a higher price for products and services and increases the value of the company in the financial market. Customers may prefer to conduct business with a business with a solid corporate reputation as well.
The improved morale of workers in a company with a healthy corporate culture increases productivity. When workers increase productivity, the financial health of the organization improves, and profits increase. Increases in productivity are a measure that illustrates efficiencies and effectiveness in the company. Employees benefit from increases in productivity with higher salaries and better employee benefit programs.