What is Company Culture and Why is it Essential for Your Business?

What is Company Culture and Why is it Essential for Your Business?

Your company culture is a great way to cultivate your business growth by offering each employee a voice, whilst encouraging healthy day-to-day attitudes, behaviours and work ethics. Great company culture involves trust, respect, and the opportunity for employees to participate in shared values, all whilst enjoying their day to day role within your company. 

Engaging your team to take ownership of their own culture statement is very powerful. They will be able to influence others to follow best practice and create a first class team to benefit each other, your clients and company.

Your company culture is important for employee engagement, performance and staff retention. It is the unique ingredient to achieve a thriving business. Business growth, longevity, team loyalty and results are some of the key benefits of cultivating a solid company culture. 

It is important to ensure that all employees understand your company’s culture so they are empowered to take ownership, be accountable and act responsibly. In doing so, they become the leaders in best practice for your business.

Poor company culture is costing UK businesses a massive £20.2 billion per year. 

The clear signs of a poor culture include: 

  • Lack of communication
  • Weak leadership 
  • Discrimination
  • Inflexibility
  • Micro-management
  • Zero praise

On the other hand, the impact of a positive company culture means:

  • Increased morale, atmosphere and relationships (69%)
  • Employees willing to go the extra mile (61%)
  • Better customer service, customer satisfaction and customer retention (60%)
  • Improved individual performance and productivity (55%)
  • Reduced employee turnover (49%)
  • More people contribute ideas and support innovation (49%)
  • Reduced absenteeism (45%)

Creating a Company Culture Statement is a positive and fun exercise to do, and will be a key reason as to why you retain a great team and keep your customers. 

We are here to help you to create a Company Culture Statement, engage your team and offer any additional training that you and your team may need to help your Business thrive.