Higher staff retention. More productivity. Increased revenue for the business. With benefits like these, it’s easy to see why organisations across the globe are taking an active interest in building positive workplace cultures.
These days, there are countless studies to prove the effects of workplace culture on individual and team performance, as well as business outcomes.
Here are a few interesting statistics:
- 81% of workers believe culture is important when deciding whether to apply for a job (Jobvite)
- 90% of professionals research a company’s culture before accepting a role (recruitment firm, Robert Walters)
- 70% of participants found benefits and culture were more important than salary (Lexington Law)
- Strong cultures result in a 4X increase in revenue growth (Forbes)
- The cost of turnover in a 5-year period due to workplace culture was $223B (Society for Human Resource Management)
What a “great” workplace culture looks like
Based on Fortune 100 Best Companies to Work For®, employees say that a great workplace culture equals a strong sense of community, equality, trust, innovation and caring.
We’ve definitely found this to be true at Geodetica, and believe a great workplace culture must be cultivated and interlinked with the fundamentals of the business – from company values to everyday activities.
Some of the ways we seek to achieve this is through…
Connection – Particularly in our line of work, it’s easy for people to become disconnected when they’re working on a myriad of different projects at any one time. We counter this by bringing everyone together for collaborative events and inviting individuals to deliver presentations on their area of specialism. This not only helps us learn, but helps us learn more about each other. It’s an element that was particularly important during remote working, because it helped to create a virtual water cooler where everyone could share ideas and engage.
Leadership – We pair every new starter, particularly graduates, with a mentor. This is a really valuable way for professionals to share their wisdom, and for new starters to learn quickly while feeling safe to ask questions and get constructive feedback.
Positive attitudes and actions – Similar to 90% of respondents in a Robert Walters survey, we also believe it is critical to find candidates who are a good cultural fit. When you have an open and honest workplace, you want to seek out people who exhibit those same traits and will boost existing culture not hinder it.
Never stop learning – The value of continual learning can never be underestimated, and is probably why a LinkedIn report found that 93% of employees would stay at a company longer if it invested in their careers. Continual learning is one way we demonstrate to employees that we value their future – be it learning from each other, or taking active steps to help a person build their career and develop valuable soft skills.
Not all workplace cultures are the same, but if we do our best every day to do right by our people, we have the power to create environments where everyone can be happy and thrive.
What does a great workplace culture mean to you?