Why Company Culture Matters
Why Company Culture Matters February 21, 2022

First, we have to define what company culture is. At its most basic, it can be defined as a set of shared values, goals, attitudes and practices that characterize an organization. A better way to understand it is to see the company, and all of its people, coming together to form a “personality.”

It’s also important to note what company culture isn’t: core values, perks and benefits, and the benchmark by which all employees should be measured. Is it a surprise that competitive salaries and great benefits aren’t what job seekers and employees really care about?

When you factor in that a third of a person’s life is spent “at work,” you better believe that culture matters. From recruitment to retention to performance, company culture impacts every facet of your business and goes far beyond just a cool, vibe-y space.

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So why does it matter? Because culture is infectious. It’s either positive or negative and can literally be the difference between success and dying in darkness.

Check out these figures.

  • When considering career opportunities, 66% of job seekers consider a company’s culture and values the most important factor
  • Companies that actively manage their culture boast 40% higher employee retention
  • Only 28% of executives say they understand their organization’s culture
  • Organizations with strong cultures boast 72% higher employee engagement rates than those with weak cultures
  • Highly engaged teams outperform their peers by 10% in customer ratings, 21% in productivity and 22% in profitability
  • Only 13% of employees identify as being engaged with their work

Bottom line? Great culture improves bottom lines.

So how do you know you have it? Take a look around and see if you notice any of these (hint: the more you can identify, the better the chance yours is infected with the good kind of culture):

  • A long line of future employees. Everyone wants to work for you. Good job! (literally)
  • Low employee turnover
  • Smiles and laughter
  • Sense of job security
  • Not a lot of gossip
  • Employees don’t see their jobs as “just a job,” it’s a destination
  • Employees are energized
  • Ideas and thought are not only welcome, but encouraged
  • Open communication
  • Diversity
  • Transparency
  • Not just colleagues, but friends
  • Leaders are visible and accessible
  • Workspace is comfortable
  • Office politics are nonexistent
  • Ongoing professional development opportunities exist
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Brand Labs understands the importance of great workplace culture, which became evident when they recently received the Great Place to Work® Certification™! Based on the employee survey, 100% said it was a great place to work. That’s an amazing achievement and likely due to the strong company culture that is nurtured every day.

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One of the most important aspects of an employee’s professional life is workplace culture. It is so powerful that it can make or break a company and result either in long-term fulfillment and success for all or, in the worst circumstances, a speedy end for everyone.