Does Company Culture Really Increase Revenue?

Creating a strong company culture is often overlooked, but it is essential for business growth. A positive culture leads to increased employee engagement, job fulfillment, and productivity, resulting in higher revenue. Any successful business owner can tell you about the significance of a positive company culture and the impact it has on employees and customers.

Company culture encompasses employees’ beliefs and attitudes regarding how things are done in the workplace. Although it may not be explicitly discussed every day, it influences every aspect of work. Employees seek organizations that align with their values, and if the culture deteriorates, they are likely to look for opportunities elsewhere. In fact, Forbes reports that if a company’s culture starts to decline, 71% of employees will consider looking for a new job.

Employees want their employers to value them as individuals. At the same time, however, they want to feel like they’re accomplishing goals as a team. If an employee feels valued and takes pride in their work and their company, they’re likely to help recruit others to work there.

Developing a great company culture starts at the top with the leadership team. If you’re a leader in your business, what kind of environment do you want to create for your employees to work in? Do you take time out of your day to thank your team for their hard work? Do you take time to ask them how they are doing? These little efforts are the things that create a positive company culture.

Here are some of the benefits you’ll see when you create a positive company culture:

  • Happy employees: A positive culture fosters employee satisfaction and comfort in the workplace.
  • Sense of belonging: A shared set of beliefs attracts like-minded employees, creating a sense of security and comfort.
  • Consistent customer trust: A company’s culture, when backed by positive actions and practices, builds customer loyalty.
  • Healthy employee-manager relationships: A positive culture aligns managers and workers, reducing conflicts and enhancing collaboration.
  • Increased productivity: When employees share the company’s goals and values, they become more productive and passionate about their work.
  • Employee retention: A strong sense of belonging leads to longer employee tenures, reducing the costs associated with hiring and training new staff.
  • Attraction of qualified employees: A well-defined culture means you’re more likely to attract qualified individuals who share the company’s values.

Creating a great company culture

Employees should be able to describe their company in positive terms when talking to friends. Desirable cultural characteristics include being friendly, challenging, motivating, engaging, nurturing, collaborative, and autonomous.

To create a positive company culture, start by developing a mission statement that reflects the company’s purpose and goals. Clarify the values and beliefs that shape the organization’s ethics and prioritize aspects such as respect, trust, growth mindset, teamwork, employee engagement, communication, diversity, results, work-life balance, and impact on the world.

While emulating extravagant workplaces like Google may not be feasible, it is crucial to create an office environment where people feel comfortable. Office decor plays a significant role in promoting a happy and energetic atmosphere. Adding elements that uplift the workspace can positively impact employees’ well-being. Even something as simple as adding a few houseplants to your office can greatly boost your employees’ moods!

Leaders should embody the desired company culture and provide opportunities for employees to connect with one another. By living out the company’s values, hosting social events, and encouraging open communication, leaders can foster an atmosphere of innovation, collaboration, and trust. Regular team huddles, both in-person and virtual, can unite the team, celebrate achievements, and address any issues promptly. Planning offsite social events also strengthens relationships beyond work-related interactions.
Supporting work-life balance

Consider incorporating family-friendly policies to support work-life balance. Flexible working hours or adjusted schedules can help employees manage personal commitments and reduce stress. Empathy and understanding from management contribute to a positive work environment.

Additionally, regularly surveying employees and seeking their feedback on company culture can provide valuable insights. Involving the team in decision-making and implementing their suggestions fosters inclusivity and a sense of ownership.

A positive company culture is essential for business success. It enhances employee engagement, job satisfaction, and productivity while building trust with customers. By prioritizing values, creating a supportive work environment, and fostering social connections among employees and company leaders, businesses can create a culture that attracts and retains talented employees, contributing to long-term growth and success.

Deedra Determan, Founder

Deedra Determan started her career working in television for one of the top media companies in the country and later became a marketing consultant in the television industry.

Determan went on to launch a niche website for moms in her local market with over 100,000 moms visiting the website each month using the power of Facebook. After one year from launching, Determan sold the website to Oklahoma Media Company, Griffin Communications. Determan went on to launch a digital marketing agency, D2 Branding – Tulsa SEO, Marketing, and Website Design that was recently recognized as one of the “Best Entrepreneurial Companies in America” by Entrepreneur Magazine’s Entrepreneur360.

Determan is the host of the Do It My Way Podcast Show, empowering women business owners and CEO’s to do business on their terms with no regrets, hesitation or fear. Determan coaches these women on how to create a personal brand so they can live a life of financial freedom, working when they want to work and making the money they want to make!