When you think about what drives a successful business, having a thriving workplace culture may not be at the top of your list.
Instead, your first thoughts will probably be providing value, a powerful set of capabilities, and coherence between strategy and your team’s capabilities.
But, quite often, the secret to business success usually lies in the last place many people think to look: the day-to-day workplace culture and the work ethic of the employees in it.
While one of the world’s most prolific entrepreneurs, Richard Branson, has stressed the importance of company culture to success on several occasions throughout his career.
What’s more, a report by Deloitte shows as many as 94 per cent of executives and 88 per cent of employees also think workplace culture is important to business success.
But before you can truly understand the ways in which culture can shape success and how to create a positive one, it’s vital to have an appreciation for what it really means.
What is workplace culture?
It’s the environment you create for your employees and the sum of your organisations’ traditions, interactions, attitudes, values and behaviours.
These environmental factors – no matter how finely they’re broken down – have the potential to impact the way your business operates every day – which can ultimately affect your services and client experiences.
There are many business benefits of nurturing a positive workplace culture.
It’s culture that determines how people interact with their employer and duties, which means it plays an integral part in driving engagement and staff retention.
Lastly, studies have also shown culture impacts employee happiness and satisfaction while other research links workplace culture to financial performance and productivity. And there are, no doubt, plenty more benefits to reap.
For tips on maintaining your business culture, keep an eye on this space!
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