The Loop Guide to Creating a Positive Work Culture
Workplace culture has been a buzzword dominating HR circles for years. The idea of corporate culture often gets conflated with flashy office perks like ping-pong tables and Friday happy hours. The truth is, while these perks are nice to have, true organizational culture runs a lot deeper than the occasional free meal. The impact of positive workplace culture is one that not only leads to greater workplace satisfaction, it directly impacts business success and profitability.
Why is workplace culture so important?
A recent Achievers report found that only 19% of employees feel engaged in their workplace. What’s more, only 33% of employees say they plan to stay at their current job. The staggering reality that more than half of the American workforce is unsatisfied with their current job should come as a wake-up call for organizations.
The Benefits of A Positive Workplace Culture
Engaged employees are productive employees. A study conducted by Gallup found that highly engaged teams showed 21% greater profitability than those that were less engaged. Among the reasons stated for the observed increases were reduced absenteeism and less turnover.
High employee churn ultimately affects your bottom line. It’s estimated that disengaged employees cost U.S. companies up to $550 billion a year. Fostering an organizational culture that values open communication allows employees to voice their needs when it comes to contributing to more meaningful work.
Attract New Talent
Your employees are some of your most powerful advocates. Happy, healthy, and engaged employees can be a great recruitment tool, helping attract fresh new talent. Referral programs can add incentives for employees to refer qualified candidates, but truthfully, a positive reputation will speak for itself and attract talent on its own.
5 Guidelines for Creating a Positive Workplace Culture
Define your Company’s Values, Mission, and Goals
It’s likely your leadership team has already had conversations to determine your company’s values and mission statement. But as time passes, goals, positioning, and team members can all change, and with it, your organizational values might change too. It’s important to revisit those values and goals periodically to make sure they still align with your overall mission, and that they are reflective of where your company is headed. Keep this a collaborative process and make sure you ask for feedback from different team members to ensure your message resonates with your employees and the work that they do.
Ask for Feedback
Getting honest feedback from employees is critical as you work to establish or improve your corporate culture. General feedback, satisfaction surveys, and performance reviews will all help you pinpoint areas where you might need to focus. Make sure you give employees a platform where they can freely express their opinions so that you can get an honest picture of your current culture and areas where you need to improve. Equally important to taking feedback, is showing you’re listening by acting on it.
Recognize Good Work
Regularly acknowledging employees when they go above and beyond shows that you appreciate their hard work. Establishing a culture of recognition encourages employees to consistently perform. Leadership sets the tone for the company, by prioritizing recognition and giving kudos where it’s due, you foster a culture that values teamwork over individualism.
Prioritize Opportunities for Advancement
Lack of opportunity or career growth is the number 1 reason that employees leave their jobs. Employee programs for professional development, as well as regular performance reviews, are great ways to give employees the tools they need to learn new skills and continue to progress professionally.
More than office perks, employees value their time. Whether your organization provides flex-time that your employees can use at their discretion, or follows a liberal remote work policy, employees feel greater workplace satisfaction when they have the flexibility to design a schedule that provides a balance between their personal and professional lives.