Thought Leadership

Importance of company culture – Laying the right foundation

Company culture is probably the most talked-about buzzword on LinkedIn, especially now, since most of the workforce constitutes Millenials and GenZ. When one starts working, it usually doesn’t take much time to realize that just the CTC and some additional financial perks aren’t enough. A Good salary and bonuses are useless if the work-life balance is terrible. An employee unable to strike a work-life balance starts seeing the paycheque as a burden rather than a source of joy.

In this article, I will discuss the importance of company culture.

What is Company Culture?

Before we dissect the importance of company culture, it is perhaps crucial to define culture first.

Culture is an umbrella term that groups knowledge, beliefs, arts, laws, customs, capabilities, and habits for a company. The culture is usually based on the principles of the founder of the founding team.

Importance Of Company Culture

Contributes to building brand identity

People usually check on social media platforms to get the details around a company’s culture and its employee satisfaction rate. The culture at a company becomes its identity and might break or make its foundation.

Employee Advocacy or Criticism 

Employees are an organization’s biggest brand ambassadors. If they exist in healthy company culture, they share good things about the brand and if they don’t like something, be sure that it becomes the talk of the town.

Here is an example –

Take Ellen Show’s recent fiasco regarding unfair treatment of employees. It led to a mass boycott of the show. When employees agreed to the rumors, the negative sentiments grew more strongly. Eventually, this has led to the ending of the show after its 19th season.

Impacts well-being

Happy and healthy employees are productive employees. Stressed and overworked employees often lead to disasters. Therefore, instilling a culture that lets the employees work without worrying is the best thing a company can do to keep moving forward.

Team spirit

Healthy company culture has a magical effect on people. It makes people willingly work hard for values and products they believe in wholeheartedly. It brings together people from different walks of life and instills team spirit in them. A culture that fosters speaking up and being responsible cultivates innovation.

Millennials and GenZ have ‘Expectations’

In the era where Millennials and GenZ look for love, respect, recognition, and creative freedom, companies can’t chain them to bad company culture or a no-growth environment. So if a company wishes to onboard some of the best brains across the globe, they need to have a culture that these professionals enjoy, appreciate, and want to work in.

In Conclusion

The importance of company culture is undeniable. Humans are not just resources, they are the foundation of a company’s success chart and they need to be kept happy!

If you’ve read this blog this far, I have something to tell you –

You have the power to improve a company’s culture at your level. So do your bit and make the workplace better for your colleagues.