Once upon a time, your corporate culture was a side note, rather than a crucial part of your talent attraction and retention strategy. That approach doesn’t work today. If your culture isn’t engaging your existing workforce and attracting new talent, you’re missing out on a big opportunity. Here are several unexpected ways your company culture is impacting your organization.
impact on your employees
Engaged employees are happy employees. They’re more productive, hand in better work and come up with stronger ideas. An added bonus: when your employees are happy and connect with their colleagues, their work, and your organization, they become brand ambassadors who are more than happy to share how great your organization is to work for. That word-of-mouth praise is invaluable in keeping your talent pipeline flowing.
Employee turnover is closely correlated to employee satisfaction, and therefore culture. When employees identify with your culture, it fosters a sense of community and ultimately drives employee loyalty. When a workplace is a mismatch for an employee’s values they’re more likely to look externally when seeking out new opportunities because they don’t have a strong connection to your company. On the other hand, when your culture aligns well with an employee’s, they’re reluctant to leave and are more likely to look for internal opportunities to grow.
productivity and efficiency gains
When employees feel like a part of a work community and receive support and encouragement from their team and leaders, they’re more likely to contribute to the business and work hard to make the organization and their colleagues proud. They’re more innovative and engaged with the work they do. That leads to better work and, ultimately, results. Increasing employee efficiency, even marginally, adds up and can make a big difference to your bottom line, if your entire workforce is feeling it.
impact on your customers
There’s a quote by Richard Branson, founder of Virgin that goes, “if you take care of your employees, they will take care of the clients.” All organizations should live by these words. When you respect your employees, they pass that respect onto customers. Great employees are the key to keeping great customers happy.
Employees who are happy and engaged at work take more initiative than tired, burnt-out employees who are disengaged from their company. If you have a strong company culture, you’ll be able to attract go-getter employees who reach for the stars and have the skill and experience to pull in big clients. Ensure that your culture supports and encourages ambitious employees.
Your culture is an important part of your company’s overall reputation. Positioning your organization as a great employer that prioritizes employee well-being can differentiate you from competitors. If you’re known as an innovative or forward-thinking employer, that will translate to your consumer-facing brand, too. Your stance on social issues can also be important. People feel good about supporting (and working for) companies that make a difference in areas such as diversity, environmentalism and giving back to the local community.
With unemployment in Canada reaching its lowest point in almost two decades, we’ve entered a worker’s job market. That puts the onus on employers to step up and show they care about issues that are important to workers. Your company culture is the best way to communicate that message and ensure you have an endless stream of talented people who want to work for you.