We have all heard about those companies heralded for their great corporate culture. Google, Pixar are Zappos are all known for providing fabulous perks, creative work environments and leading edge opportunities.
But why do they do it?
It’s not because they are trying to win a popularity contest. It’s because they understand that happy employees drive business, in more ways than are obvious.
This blog post will explore the ways in which nurturing your corporate culture can impact the bottom line and drive business success.
Recruiting is an expensive and time consuming undertaking
The appeal of Field of Dreams notwithstanding, most companies do not experience a ‘build it and they will come’ phenomenon when they set up shop.
Recruiting and retaining top talent can be costly and inefficient. By building your reputation as an extraordinary employer, you will have a much easier time attracting new hires.
And once you have spent the time and money training them, they will be much more inclined to stay if you offer them a great work experience, tied to an engaging corporate culture.
There is a great deal of truth to the notion that happy employees yield better results.
A recent Gallup study revealed that sales and profits at a point in time are directly influenced by employees’ feelings about the organization at earlier points in time.
Investing resources in corporate culture will save money down the road with greater productivity rates, improved work quality and enhanced efficiencies.
Your workforce has a tremendous impact on your company’s reputation. They are ambassadors, to a degree – broadcasting your brand to their networks and beyond. You can be sure that unhappy employees are sharing their tales of woe at every opportunity.
On the flip side, employees who feel great about their work will be quick to share those stories. And that can have a significant ripple effect across the market. Your brand is very much aligned with its reputation in the public sphere, and employees are responsible, to a degree, for that impact.
It does not have to cost a lot of money or take a lot of time to enhance your corporate culture. You can:
- Introduce ‘themed’ Fridays so that all employees wear something unconventional that day
- Host pot luck lunches once a month
- Provide beers and snacks at 4:00 on Fridays for quick, informal end-of-week get-togethers
- Organize a weekly, after hours soccer/baseball game
- Have an end-of-year (or kickoff) company party
- Offer awards to your best performers
There are countless ideas to improve corporate culture. By making it a priority, the returns will be realized in your bottom line, with improved employee retention, enhanced productivity and a reputation of which you can be proud.
Contact Miller Bernstein today to learn how we can help you build your business and improve your corporate culture.