Company Culture Statistics
Table of Contents
Table of Contents
Company culture encompasses a company’s mission, vision, and values, as well as its day-to-day practices and policies. Important contributing elements are working environment, managerial styles, professional development, employee recognition, and team and employee characteristics and behavior.
A poor company culture can result in low productivity and high staff turnover, whereas a positive and strong company culture with high levels of employee engagement can increase productivity and profits. A healthy company culture can also attract and retain talented employees.
Read on to discover the evidence that supports developing a strong company culture.
Having a healthy culture sets you up for business success
In a company culture where employees are interested and engaged, they are also motivated and productive. In that setting, an entire organization can be striving towards the same goals. The result is a more successful business and increased revenue and profits.
A great company culture attracts the best talent. It’s what brings in the capable employees, creators and managers who drive the organization’s success.
A better culture leads to more engaged workers
Organizational culture can be improved through solid leadership, clear purpose and values, and good communication. A culture that is empowering—where employees have a voice, a valued role, and development and growth opportunities—will result in engaged workers.
Well-motivated workers that believe in a company’s purpose and values will strive harder to do well in their own role and for the company goals.
Not investing in culture will cost you talent
The best way to retain employees and attract the best new talent? Create a great working environment where there are clear individual and corporate goals and defined paths for recognition, feedback, and development.
In fact, statistics suggest that company culture can be more important than salary for many employees.
Leaders play an important role in building culture
Effective and motivating leaders play an important role in driving successful company culture. They are the creators of (or are closest to) the vision and values of an organization, and the way they pass these characteristics to employees is important.
Research shows that managers can be more connected to company culture and are most influential in changing company culture, for better or for worse.
The organization’s mission, vision, and values help shape its culture
A company’s mission defines its core business, and the vision outlines its aspirations for the future. Company values, aligning with mission and vision, define the way managers and employees behave and the way business is done.
Values can be generic but also very specific, with flexible working practices and sustainable policies as examples. Values can include attributes like operating with honesty and encouraging diversity, and they help set the tone for the working environment.
Employees want to give and receive feedback
Fostering an open culture with multi-directional lines of communication helps give everyone a voice. It can connect employees and involve them deeply in a company’s goals.
Such an open culture can begin with a simple two-way feedback process, and it’s shown that employees value having a voice and receiving feedback themselves.
People value flexibility, work-life balance, and remote work opportunities
Company culture can be designed in a way that fosters a working environment attractive to employees. The benefits will entice new talent, build a strong company reputation, and ensure that employees remain.
Elements of company culture can include flexible or remote working practices, four-day work weeks, additional vacation days, and events for employees and teams, which all contribute to a motivating and engaging place to work.