The company culture refers to the general definition of human resources, customer service, research, and development, as defined by the employees. Though it’s not something which you usually write down and include in the objectives’ list, it’s a very important component of a company. Today we will see what do successful entrepreneurs say about the importance of company culture.
The Importance of Company Culture as Entrepreneurs See It
1. It Improves Productivity
According to several studies, happy employees tend to be more productive at work. Naturally, an overworked employee will not be in the mood to work more, will be grumpy and antisocial. As such, a good environment that motivates people and makes them give 100% is positive for everybody involved. Happy employees can, in turn, motivate others as well. Nathan Chan, who is the publisher of Foundr Magazine, says that this is perhaps the most important advantage of a good company culture.
2. It Helps You Reach the Greater Goal
Another aspect of the importance of a company culture is the fact that it helps everybody keep in mind the greater goals. Nadya Khoja is a director of marketing and has a vast experience with business, productivity, SEO and content marketing. She claims that the company culture helps people work together towards their common goal. Without it, each would be working only for themselves. What’s more important, the revenue is not the result, as you might expect. The company needs to make a statement on the market and to leave their mark on the world.
3. It Disciplines the Hiring Process
The company culture helps people understand better where are they standing and heading. When your business grows at a fast pace, this can help you spot faster people that match your own values and goals. Furthermore, one of the most common mistakes people do is to hire employees based merely on their resumes or other recommendations. Marty Fukuda, who is the COO of N2 Publishing, claims that it’s important to notice their culture as well. Even though their skills can be useful, they might not fit in later.
4. It Retains Employees
A common problem many companies have is the high quitting rate. When managers are aware of the importance of company culture, employees feel more connected to the business. As such, they are not that willing to quit. Naturally, they won’t get a job somewhere else either. Jayson DeMers is a founder and CEO at AudienceBloom. Through his experience, e underlines the fact that people get attached to a good company culture.
A good company culture has plenty of benefits, both for the leaders and for the employees. Consequently, it can convince people stay with your company, make you hire people who match your vision and values, and improve the overall productivity. In the long run, it makes a difference between people who manage to achieve their bigger goal and those who get lost on the way. Finally, even though you can’t quantify it on the paper, it’s a very important component of a business.
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