Why Company Culture Matters
At Speakfully, we live and breathe company culture - and our employees will vouch for that. But cultivating a positive corporate culture isn't always easy, especially for larger organizations with a diverse workforce.
We help organizations take the guesswork out of company culture by giving employees a safe space to voice concerns and HR leaders real-time insights into what's happening within the org. But we're not here to talk about us - we want to talk about you, the state of your organizational culture, and how to improve the employee experience.
First things first...
What is Company Culture?
Okay, you may be wondering why we're taking the time to define company culture - especially as a seasoned HR professional or people leader. The truth is, many people still view corporate culture as ping-pong tables, bean bag chairs and unlimited craft beer, when in actuality a well-rounded company culture is much more than that. Cultivating a great company culture is less about what you offer people in terms of office perks and more about how your people are treated, including interactions between management, employees, and clients. Additionally, what level of ownership and trust employees are given is a key component to establishing a positive working culture.
Ultimately, the best culture makes all employees feel safe and welcome, never excluded or uncomfortable.
Company Culture is a Must
Here's a fact: corporate culture is no longer an option - especially when it comes to employee retention or organizational success. That's why it's imperative for business leaders to truly understand just how important company culture is. For example, some of the best, currently employed individuals are leaving "good," well-paying jobs right now as a direct response to poor corporate culture. Plus, active job seekers consider company culture as being equally, if not more important than salary or employee benefits offerings. In fact, the majority of today's talent pool says job quality matters more than how much they're being compensated. That's pretty powerful.
Not only is positive company culture a selling point for current employees and future talent, it's also a major factor in terms of what makes an organization successful. For example, company's committed to corporate culture have 30 percent greater customer satisfaction levels. Companies with an engaged culture also report increased levels of productivity, reduced turnover, lower absenteeism and even higher revenue.
Assessing Your Company Culture
So, how is your company culture doing? Most of the time we ask this question we're met with a resounding "it's good!" or "our company culture is doing great." That's awesome - but how do you KNOW? This is where we encourage business leaders to take a closer look at their organization and what they're doing to actively keep a pulse on company culture and the overall employee experience. Consider the following:
- What tools are you using to measure employee satisfaction?
- What are you doing to increase employee engagement?
- What feedback have you received from employees?
- What is the average tenure of employees?
- Do employees have a place to speak fully and safely?
- Does your organization have a positive reputation online? (i.e. Glassdoor, Indeed, etc)
- What is the typical outcome of employee exit interviews?
These are just a few ways to assess and analyze company culture. However, actionable next steps are only possible when you're able to analyze real data and metrics coming directly from your organization's most valuable asset - its people. At this point you might be thinking "our culture is great. We don't have a problem with employees speaking up." Our response? Just because employees aren't actively coming to you, doesn't mean there's nothing happening.
Looking for ways to improve culture and the employee experience? Schedule a demo with Speakfully and leverage feedback and data to make informed decisions and create a safe, trusting and transparent workplace.