![Why Company Culture Matters](https://www.brandlabs.us/wp-content/uploads/2022/02/header-why-company-culture-matters.jpg)
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.
![Brand Labs Outing](/wp-content/uploads/2022/02/bl-group-outing-1600x800-1.jpg)
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
![Brand Labs Team Call](/wp-content/uploads/2022/02/bl-team-call-1600x800-1.jpg)
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.
![We're Great Place to Work-Certified](/wp-content/uploads/2022/02/brandlabs-great-place-to-work.jpg)
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.