Why Company Culture Matters: Incorporating Cultural Elements into Corporate Life
In today’s dynamic business landscape, fostering a strong organizational culture is a necessity, not a luxury. How an organization’s employees and management interact and perform - and the beliefs and behaviors that guide them - are all vital elements of a company’s culture. As such, culture has been shown to affect hiring, retention, productivity, performance, results and even longevity.
The concept of an overarching company culture has grown in importance thanks to recent high-profile corporate crises (see Uber for one example), an enhanced push for DEI strategies, and a continuous battle for talent. Simply put: company culture matters. It has become a strategic priority with significant impact on the bottom line. Your business culture not only shapes its internal environment but it also plays a pivotal role in determining its success and longevity.
Your organization’s culture, at its core, is its collective personality; it encompasses values, beliefs, behaviors, and traditions that shape how employees interact and work together or with one another. A positive company culture fosters heightened employee engagement, satisfaction, and productivity. It promotes a sense of belonging and purpose among employees, and we know first hand how improved morale leads to higher productivity and creativity. Employees are more motivated to contribute and put forward their best work if and when they truly enjoy where they are working, what they are doing, and who they work alongside.
So what are some cultural elements you may want to consider incorporating into your own organization’s culture? Collaboration, communication, innovation, core values, adaptability, and resiliency are all integral aspects of building a positive company culture. Encouraging collaboration and open communication are great places to start, as they both help to also foster innovation and creativity. Leadership will also play a critical role in shaping and maintaining company culture. Leading by example and embodying the values and behaviors your company wishes to promote are simple strategies for management to incorporate as they work alongside others to grow a positive company culture.
We’ve previously discussed the importance of values, and it’s essential to note how teams that share common values and goals are more likely to collaborate effectively, leading to creative problem-solving and increased (healthy) competitiveness. Clearly defined core values need to be communicated and also showcased on a regular basis to employees. Values that also foster inclusivity and diversity will help to ensure a rich and varied cultural dynamic within your company.
Flexibility and culture are integral to building an agile organization, and a resilient company culture will only help your organization navigate change more effectively. This growth mindset empowers employees to embrace change rather than resist it, making each individual, and as a result your entire organization, more adaptable as they continuously learn how best to improve.
It’s important to note how millennials and Gen Z specifically have woken up to how company culture impacts more than just the organization and collective employees, but each individual and their mental health both in and out of work as well. The fact remains that they prioritize company culture when choosing employers, and a positive culture can attract top talent, even reduce turnover rates. Incorporating cultural elements can help create a workplace where employees are eager to apply, stay, and grow. Celebrating achievements, milestones, and cultural events to strengthen the sense of community are all low-risk, high-reward elements of promoting a positive business culture.
Incorporating cultural elements into corporate life is not just a trend; it's a strategic imperative for success in today's business landscape. A positive company culture contributes to employee well-being, attracts and retains top talent, fosters innovation, and ensures an organization's ability to adapt to change. As leaders and employees collectively invest in building and sustaining a vibrant culture, they pave the way for long-term success and a thriving workplace.
Company culture, as you know, however, is not static; it evolves with your organization. By consciously cultivating a positive culture, companies can successfully create an environment where both individuals, and the organization as a whole, may flourish.