A robust corporate culture is linked to improved market performance, lower turnover, greater innovation, and more. Workplace culture can significantly impact an organization. The challenges of a dispersed workforce, evolving employee expectations, and heavy HR workloads are prompting many business leaders to seek ways to improve corporate culture.
Every business has a unique company culture. However, the success of this culture in fostering happiness, engagement, and productivity depends on how the organization nurtures and develops it over time.
Why is workplace culture crucial?
A positive, inclusive company culture drives business success from within and is associated with:
Enhanced Financial Performance: According to research by Great Place to Work® and FTSE Russell, companies that make the Fortune 100 Best Companies to Work For® list outperform the market by a factor of 3.36.
Higher Employee Retention: Data from MIT Sloan Management Review indicates that a toxic corporate culture is the strongest predictor of employee attrition, ten times more significant than compensation in predicting turnover.
Increased Innovation: Supportive workplace cultures encourage employees to share new ideas and innovative thinking.
Superior Customer Service: Employees at Great Place to Work™-Certified organizations are 34% more likely to rate their customer service as “excellent” compared to the average U.S. worker.
10 Strategies to Improve Workplace Culture
Corporate culture is ever-evolving. Even if your business currently has a strong culture, it’s essential to regularly seek improvement to keep employees satisfied and attract new talent.
Whether your organization needs cultural fine-tuning or a complete overhaul, these 10 tips can help improve workplace culture:
1. Embrace Transparency
Lack of transparency can damage a business’s culture. Whether a project succeeds or falls short, being open with employees about the outcomes shows that the company values honesty. This transparency fosters an open workplace culture, boosting happiness and engagement.
2. Support Community and Employee Initiatives
Engaging in community activities and supporting causes important to employees can significantly enhance company culture. Small businesses can host or sponsor events benefiting local charities or non-profits and offer employees volunteer time off (VTO) to support charitable activities.
3. Act on Employee Feedback
Employees should play a critical role in shaping company culture. Leaders can achieve this by actively seeking employee feedback and implementing policies that address their concerns. This approach ensures that the corporate culture aligns with employees’ needs and makes them feel valued and invested in the company’s success.
4. Organize Company and Team Events
Company and team events, such as lunches, picnics, holiday parties, and milestone celebrations, greatly impact morale and culture. These events foster teamwork and help employees build strong relationships, creating a positive workplace culture. For distributed workforces, hosting virtual events is equally important.
5. Promote Teamwork and Engagement
Teamwork is essential for achieving business goals. Encouraging employee engagement through feedback and idea sharing fosters a collaborative environment, essential for a thriving corporate culture.
6. Invest in Employee Benefits
Providing comprehensive employee benefits significantly impacts workplace culture. Benefits that prioritize well-being, work-life balance, and personal growth show employees that the company values them beyond their work contributions. Consider offering family support, wellness programs, mental health services, financial wellness assistance, and ongoing learning opportunities.
7. Recognize Employee Contributions
Acknowledging employees’ hard work is crucial. Implementing a recognition system that rewards high performance can prevent turnover and enhance morale. Recognition can be in the form of gift cards, public acknowledgments, or other rewards that demonstrate appreciation.
8. Prevent Employee Burnout
Excessive stress can lead to severe health issues and decreased productivity. Employers should help employees manage stress by promoting well-being, providing adequate breaks, and encouraging boundaries. Demonstrating empathy can boost morale and loyalty, strengthening the overall culture.
9. Involve Employees in Company Initiatives
Involving employees in company initiatives, such as recruitment and branding efforts, can increase engagement and satisfaction. Encouraging participation in team-building activities also helps employees connect and feel more invested in the company.
10. Stay True to Core Values
Enhancing workplace culture requires a strategic approach and commitment over time. Leaders should ensure that efforts to improve culture align with the company’s core values and mission, setting the foundation for long-term success.
Partnering with HRDelivered
Continuously monitoring and improving workplace culture demands significant time and resources. A professional employer organization like HRDelivered can provide essential support. We offer a range of HR services, employee benefits, and risk management solutions, acting as an extension of your HR team.
HRDelivered offers clients access to SHRM-Certified HR Managers who help develop policies to enhance workplace culture. Additionally, they provide competitive employee benefits that drive engagement and well-being.
Ready to elevate your company culture? Contact HRDelivered to learn how we can assist you.
