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To some people, ‘company culture’ is just another buzzword in the business world but to those in the know, it’s the key to optimizing productivity and achieving a healthy bottom line. Read on to find out more about company culture and why it’s important to your business’ success.
Company culture is not just another buzzword in the business world. To those in the know, it’s the key to optimizing productivity and achieving a healthy bottom lineTweet This
What is company culture?
Basically, company culture is like the personality of a business. It’s the ambiance that a company creates in its workplace and it’s made up of the company’s goals, values, mission, and ethics.
For instance, a lot of companies operate according to a teamwork culture which prioritizes employee participation across the board. On the other hand, you have companies that place an emphasis on keeping the workplace casual while others prioritize the firm implementation of rules and regulations.
Google is one of the few companies that have truly mastered the concept of company culture. Although it’s a multi-billion dollar, global enterprise it has managed to maintain the same informal campus environment of its humble beginnings.
All of Google’s offices have an office café where employees gather to eat at lunch and this environment is often a great catalyst for sharing innovative ideas and collaboration between various departments.
Why is company culture important?
It’s essential for a company to establish a culture as this gives employees a sense of belonging. It also makes the workplace a more enjoyable place to be in. Research shows that employees fare better in companies with an established culture especially when they feel like they can identify with the company’s values. It creates a sense of camaraderie and fosters better productivity and collaboration between employees.
The only downside to company culture is that if it clashes with employee values then it can create discord and makes it less enjoyable to be at work. This can obviously affect productivity and other aspects of the company’s performance.
For example, independent employees who enjoy working alone might feel alienated in a company that stresses teamwork. The lack of individualized spaces may affect the employee’s happiness and efficiency in the workplace.
Also, there’s a huge difference between casual and traditional workplaces. While a more casual company might offer employees the flexibility to take on new roles and work on new projects without going through a formal selection process, companies that follow a more traditional approach will have clearly defined roles and promotions as regulated by strict processes.
It’s also worth noting that company culture is one of the most important considerations to make when searching for a job. Employers are equally particular about the staff they hire because it’s important to ensure that they onboard people that fit in with the company’s values.
In fact, a symbiosis between employee and company culture typically leads to a fruitful and productive long-term relationship that benefits both parties. Employees are happier to work at the company and they tend to flourish while the company benefits through less new hires and healthier returns.
Benefits of having a strong company culture
Here are some of the benefits that your company might derive from having a strong and clearly defined company culture:
- It contributes to company image: Company culture is a huge aspect of your brand’s overall identity. If the culture creates a fun and vibrant environment for employees, they reflect that to your clients and customers. This can be a great catalyst for customer loyalty and can even boost sales because everyone wants to be associated with a fun-loving and generous brand.
- Talent retention: Every company wants to attract and retain talented, hardworking individuals, and having a strong company culture can help you do just that. The feeling of belonging among employees can lead to long-term talent retention and it fosters better teamwork chemistry. When looking at iGaming jobs in Malta, job-seekers often choose according to company culture among other important variables.
Identity: Company culture is a huge part of your business values and overall identity. Whatever values you set for the company will be reflected