June 4, 2021
Company culture and organisational culture are terms that are commonly used across industries and organisations of every size. Most of us have a general grasp of what this term supposedly means, but the real value of understanding company culture can easily be lost in a flood of social patterns, behaviours, and mindsets that are challenging to define or quantify. Here’s an in-depth look at what this term means, how to determine a company’s culture, and the value of this concept.
A company culture is an expression of a core set of values, norms, habits and beliefs. This forms the basis of a unique identity that influences pretty much everything your organisation does. It’s also about what you reward in an organisation be it perseverance, adaptability, creativity or any endless combination of traits.
As challenging as it is to define or measure, company culture is exceptionally important to realising organisational goals. It impacts every aspect of a company, from the big-picture strategy and public perception to how employees go about their daily tasks.
Companies with a positive culture often have more engaged employees, as well as being much more attractive in terms of talent acquisition. According to a recent survey, company culture has taken top priority with job seekers, with 77% of adults saying they consider company culture when applying, and half of the respondents saying a good culture is more important than a good salary.
Similarly, the cost of poor company culture can be severe. In fact, a 2020 report carried out by BreatheHR detailed that almost 27% of employees that quit last year did so due to toxic workplace culture. The result? Losses of £15.7 billion each year.
Company cultures are unique and nuanced, and often come to life organically based on goals, market position and the people in positions of leadership. That said, more often than not a positive company culture exhibits the following characteristics:
By looking at company culture characteristics, we can further define different types of company culture in a broad sense.
Getting to understand and strategically transform your company culture is no easy task, but the right tools and technologies can simplify this essential process. At Totem, our company culture platform works with employees at every level of your organisation, delivering in-depth Culture Insights, whilst also providing a dedicated culture platform for employees to socialise, connect and recognise success.