Company culture can be defined as a set of shared values, goals, attitudes and practices that characterize an organization. It’s the way people feel about the work they do and the values they believe in. Moreover, it’s how they perceive the company’s future and the way they participate in it. Collectively, these traits represent the personality or culture of an organization. It encompasses a variety of elements, including work environment, company mission and leadership style. Also, company values, ethics, expectations and goals. With a strong company culture, employees understand the expected outcomes and behaviors and hence, act accordingly.
Company culture is an integral part of business and affects nearly every aspect of a company. Without a positive corporate culture, many employees will struggle to find real value in their work. Consequently, this will lead to a variety of negative consequences for your business. Healthy company culture leads to higher productivity, better morale, greater employee engagement, more sales, lower turnover and more.
One study found that 56% of workers ranked a strong workplace culture is more important than salary. In fact, more than three-in-four workers said they’d consider a company’s culture before applying for a job. According to another research, 88% of employees believe a distinct corporate culture is important to a business’s success. Hence, organizations that have strong, positive corporate cultures help employees feel and perform their best at work.