Successful companies like Google don’t just rely on their names to lure the best and brightest talent. They also rely on their stellar reputations when it comes to their corporate culture. Tech companies and start-ups are well known for putting company culture at the forefront of their brands, and your business should too.
It’s not all nap pods and free food – there are real benefits to your employees and your bottom line when you prioritize company culture.
What is Company Culture?
Company culture typically refers to the values and expectations of a company, and how those notions interact with employees and other stakeholders. It’s often something that’s implied, and it naturally develops based on who you hire. However, you can still intentionally and successfully shape your company culture by keeping a few characteristics in mind.
We know Google has an awesome company culture from more than just the tech giant’s solid 4.6/5 star Glassdoor rating, it’s imbedded in its brand identity. Likewise, your employees will associate how you treat them with your brand identity. If employees are treated well and a fun and positive workplace is encouraged, your brand will be seen accordingly by not only your team, but by your customers too.
Your company culture plays a major role in fuelling your company values, which is why it must align with the vision and goals of your business. If your company culture values creativity and being results-driven, then it’s more likely that your employees and potential candidates will have similar values and be keen to put them into play.
Studies have shown that company culture helps to attract and retain top talent. When people look forward to going to work every day, feel like they belong and that their values align with your company’s, why would they want to leave? The bottom line, according to ZipRecruiter, is lower turnover and higher performance, which are good for business.
Not Just a Trend
Company culture isn’t new, but there’s a reason that business leaders now think it’s so integral to success now more than ever. With the dawn of social media and the 24-hour news cycle, your company’s brand and associated culture will be on display to a previously unprecedented degree. So you might as well use that to your advantage.
Increasing demand for positive company culture also points in the direction of millennials who, by 2020, will comprise nearly half the working population. According to Forbes, millennials are attracted to strong company culture over anything else.
Another factor to keep in mind is the growth of the so-called start-up economy. With successful new businesses popping up more and more frequently these days, it means more competition for your business in terms of both hiring and customers.
Defining what your company culture is will help you differentiate your business from the rest, as well as keep you relevant and desirable in the public eye. In turn, this will help you attract quality candidates (millennial and otherwise), as well as keep your employees happy and eager to stick around.
Whether your company culture grew naturally or intentionally, there is no questioning its power to affect every aspect of your business inside and out. We spend one-third of our lives at work, so why not make it the most enjoyable place possible? Your employees – and your bottom line – will thank you.
Laura D’Angelo | DBPC Blog