‘Strong culture’ and ‘resiliency’ seem to be trendy buzzwords when it comes to discussing business survival in the pandemic era. A vibrant company culture has always been an asset to recruitment agencies though. Corporate culture directly influences a company’s success- and if your culture doesn’t help employees feel motivated and valued, morale suffers, performance deteriorates and productivity drops. Now more than ever culture is everything- it’s the difference between surviving and thriving in these disruptive times.
What is Corporate Culture?
The term corporate culture can often seem a bit fluffy and intangible! The concept encompasses palpable company qualities, such as dress code and perks, to more abstract influences, for instance company vision and core values. Overall, it can perhaps be described as your organisation’s “personality” – a combination of qualities that define the atmosphere of the workplace and the glue that holds employees together.
Why is it important?
Building a strong company culture has been shown to preserve value and enhance productivity and performance in many ways:
- Improves Employee Engagement – 57% of employees in the UK feel that company culture is more important than salary when it comes to being satisfied at work. Furthermore, it has been estimated that disengaged employees cost a business up to a whopping £15 billion per year.
- Decreases Turnover – 63% of UK employees say that their company’s culture is a key factor when deciding to stay at their job.
- Attracts Talent – 75% of UK candidates stated that they would consider a company culture before applying for a role, with 69% of applicants confirming that they would not apply for a position if the company’s values did not align with their own.
- Improves Recruitment Efforts – A strong candidate experience starts with your company culture and companies that create a positive candidate experience enjoy a 70% increase in the quality of their hires.
- Increases Productivity – 86% of employees believe that their company’s culture influences how productive they are. On top of this – satisfied employees are believed to be 12% more productive, while dissatisfied employees are 10% less productive.
Is Workplace Culture Without an Office Even Possible?
Yes, company culture can even flourish when outside the office! It will take a bit of tweaking, but the fundamentals and desired outcomes are the same, the only thing that’s changed is the application. Many lessons have been learnt over the course of last year. Primarily, the understanding that without a clearly defined ethos, that can withstand the tests of working remotely alongside the challenges of this new business environment, a business won’t succeed. So arguably, organisational culture is more important than ever in work-from-home teams as it allows agencies to connect and unite their workforce when there is no ‘office’ environment to align in.
So, if your recruitment agency is struggling with employee morale, an excessively high turnover or is having issues sourcing the right candidate for your business it may be time to look at your corporate culture. Contact 1PS for invoice funding and back office support- so that you can concentrate on building your resiliency and company culture.