Did you know that the corporate culture of a business is a valuable asset? For businesses focusing on growth, their corporate culture can be a contributing factor in this area. In the current business environment, the concept of cultural growth has started to take root in a positive light.
As more corporations focus on this area, the benefits that this concept offers are hard to deny. In fact, you will find that many famed businesses are able to experience growth significantly through their corporate culture alone.
The biggest examples are evident in Google, Microsoft as well as startups like Zoom that have won awards for being the best places to work at.
So, how does the corporate culture end up contributing to the growth? The following are some clear ways that highlight this aspect.
It Helps with Productivity
Did you know that over 70% of the workforce in America does not feel engaged at work? Do you also know that engaged employees contribute more to their workforce? This directly impacts the productivity of a business.
Employees feel engaged, happier and involved in workplaces where the culture is healthy. Happier employees are not only more productive but they take less days off, contribute more to the business and take an active role in ensuring the growth of the business.
Employee retention is one of the areas that any business needs to master for growth. A poor retention rate can mean that on an annual basis, a business constantly has recurring costs, coming up to $30,000 to $40,000. What’s even more surprising to note is that data shows that out of 100 employees, 27 choose to quit voluntarily.
The main reason that many cited was the corporate culture, long work hours and bad managers. However, it is clear that with a healthier corporate culture, a business can retain employees better. They can also save a lot of money and use those resources better for growth.
Attract Skilled Employees
One of the best ways that corporate culture contributes to the growth of your business is that it attracts skilled employees. For many businesses, attracting skilled employees hinges on offering them a great salary package but if they have good benefits and a healthy corporate culture, skilled employees will consider working with a particular business.
This is evident in the way businesses like Microsoft, Apple and even Google hire employees. They are known for having a culture that is healthy, promotes learning, thinking out of the box and rewards creativity in employees. This naturally attracts skilled employees to turn towards this area.
With the right corporate culture, you cannot just contribute to business growth but also develop an environment that is productive and allows for the healthy growth of everyone. The tangible and non-tangible benefits here are well worth it.
If you’re looking for a way to revamp the corporate culture n your businesses, get in touch with our consultants at WinMax Systems Corporation. You can give us a call at 408 894 9000 or email us at email@example.com.