Why Does Workplace Culture Matter?

On the surface workplace culture may not seem important, but it can serve you in many different ways; it can help define who you are as a company, create a better work environment for your employees, and help save on expenses in the long run.

Having a definitive workplace culture can help set you apart from the rest of your competition as it is so often overlooked. According to the Society for Human Resources Management (SHRM) website, nearly one in five employees (18%) reported that their companies don’t formally measure employee engagement at all. Take the time to generate a healthy workplace culture and then use it to your advantage by advertising it right alongside your mission statement on your web page and on social media accounts. You will build your reputation as a company that cares about its culture and you will end up seeing results as 74% of surveyed HR professionals say a company’s reputation is critical for successful recruiting.

A great way to incorporate a healthy workplace culture is to consider the work/life balance at your company. Work/life balance has become an important aspect of the job for the younger generation of employees, and recognizing that people have lives outside of the office is a foundational piece of building a strong culture. Giving employees the power to determine their own work schedule or offering more PTO per year than just the bare minimum are benefits that are now considered important factors to employees when looking for a job. By putting more effort into ensuring your employees aren’t slaves to their work, and giving them the power to set their own office schedule, you will in turn attract employees that are more dedicated to their work overall and your company will reap the benefits.

While you may not be swayed by the act of giving first and then receiving, consider your bottom line when it comes to workplace culture. A bad work culture can be expensive. The SHRM website predicts that every time a business replaces a salaried employee, it costs six to nine months’ salary on average. If your business has the national average employee turnover rate of 15% per year, this would easily cost you tens of thousands of dollars every single year! A few simple changes to boost morale in the organization such as having summer Fridays or a company potluck can have surprising benefits in the work place. Or dig deep and conduct a major overhaul to your company’s mission and its beliefs, and follow through on them to see lasting positive change within the company.

No matter how you decide to incorporate workplace culture into your place of business, the important part is you’re recognizing it as an important part of your organization’s health and you’re checking in on the status of the culture regularly to ensure your employees are satisfied and fulfilled at the place they work.