Why Company Culture is Essential for a Successful Business

Why Company Culture is Essential for a Successful Business Every company has its own unique culture, made up of the working environment, the special ways that things are done and the people who make up the team. The culture of a company can affect lots of aspects of the business, from talent attraction and the  retention of existing staff, to the brands reputation among the public and the industry. The company culture plays a large role in your job satisfaction, as if the work environment doesnt match your personality and working style you could experience a clash of interests. Therefore, for a business to build a workforce of staff who are motivated to achieve their best and are going to stay with the company long term, its important that they hire people based on their culture fit. This infographic from Washington State University explains just how important company culture is and the impact that it can have on employee happiness and attracting the top talent to the organisation. A few  examples of a really strong company culture Walt Disney Corporation  are one of the most widely known brands in the world and they have built a fantastic employer brand by getting their employees involved.  The brand focuses on making dreams come true, so staff are trained to treat all of their guests like royalty. SouthWest.com focus on providing exceptional customers service and one of their employees volunteers at Ronald McDonald housing, making balloon animals for kids. Zappos  pride themselves on the great customer service that they provide and their staff are well known for going the extra mile to help customers. How does culture affect the hiring process? Talent attraction College students were willing to receive 7% in starting pay, if they could work for a company who shares the same values as themselves. Employee fit  Employees who are hired based on their fit with the company culture are more likely to build stronger bonds with colleagues, contribute their ideas to the organisation and stay at the company for longer. Employee retention 46% of new hires quit or are fired within 18 months. Some of the reasons are a differing preference of communication style, the way feedback is given and the amount of openness that is expected. How does culture affect  employee happiness? Companies with a strong culture have less staff turnover than those who dont. Happy employees can be as much as 31% more productive. Employees who are actively engaged in their company culture are more likely to receive a promotion and report high levels of job satisfaction and engagement. How can your business create a great company culture? Acknowledge good work from your staff, as employees are more likely to continue putting in a high level of effort if they feel their work has meaning and is appreciated. Offering incentives to encourage employees can actually be counterproductive.  Qualities that work as better motivation are autonomy, mastery and purpose. Employee motivation can be improved by allowing employees to manage their own work, offering training opportunities and making them feel like their work matters to the business as a whole.