Why Corporate Culture is More Than Just a Buzzword

Employees today yearn to be connected to both their employer and to something broader and bigger than what may be found in their job description. In fact, a recent survey found that 74 percent of workers agree that their job means more to them than just a way to earn a living. And, 78 percent say that feeling a personal connection with the company’s culture and values will determine their decision to accept a job or not.

Despite an array of research pointing to the importance of culture, many companies continue to believe it’s simply a buzzword with no real connection to organizational performance. Yet, nothing could be farther from the truth.

 

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Buzzword or Beneficial?

Securing Millennial talent is vital to business success today. That said, Millennials desire a strong company culture more than anything else when deciding who to work for.There are very clear benefits to having a strong, unified company culture across the organization – impacting worker attraction, engagement and retention. For example:

  • Studies have indicated measurable increases in turnover for companies with poor or nonexistent culture.
  • When people feel like they belong to an organization, they’re more likely to stay for the long term. A strong company culture not only attracts better talent, but just as importantly, retains that talent.
  • Corporate culture also adds to a company’s brand identity. When companies treat their workforce well and have a fun-loving atmosphere, their brand will reflect that.

 

Building a Strong Corporate Culture

Culture contributes to the identity and values of your company. Building a strong culture is a good way to set and maintain the direction of the organization and employees. Without it, companies will struggle to keep their values and mission coherent and consistent.

To start building a strong corporate culture, try these key strategies:

  • Determine the company’s unique cultural differentiators, based on its specific goals and strategies.
  • Gauge your employees’ current understanding of your company culture. Consider taking a poll of your workers to benchmark where you stand today.
  • Ensure the organization’s human capital strategy and underlying programs and processes are aligned with its stated mission and culture.
  • Identify and correct any changes needed to ensure that the company is consistently following through with their mission and culture.
  • Consider using social media initiatives effectively to support the company’s brand and reputation.

 

Need More Help?

XBInsight has helped hundreds of business leaders help identify and develop the standards and traits of their organization, and build a high-performance culture.

 

Contact us to learn more!

 

Topics: Why Corporate Culture Is More Than Just A Buzzword