In our ongoing series on company culture and its impact on your business growth, we tackle the importance of culture to your restoration company. This is the third installment to the series, so if you missed the first two, go here for part one and here for part two.
Culture is Currency
The average American will spend one third of their life at work.
Most people don’t have the luxury of choosing their employers based on the culture of the company; they take work where they can get it, and sometimes, they find something that fits well with their personality and their goals for continued growth (if they’re fortunate enough!). We heard this from many of Spartan’s managers at the recent Owner’s Roundtable forum. That before they found Spartan, they found themselves working in companies that didn’t align with their own values and goals, and therefore, felt undervalued where they worked.
One of the jobs of an owner is to make even somebody’s third choice feel like a place they want to be. Happiness may ultimately come from within, but job satisfaction begins with job creators caring about the people in their charge.
When your employees spend one-third of their life at your company, you owe it to them to make it worth their time. Period. The environment in which they spend that time will largely dictate the quality of an employee’s professional life. If they work for a company with a strong culture that aligns with their own beliefs and attitudes, they’ll be more likely to work hard and remain with the company for the long haul. Spartan has very little turnover, for a reason.
Importance of Company Culture
The importance of company culture goes far beyond the vibe of your office. From recruitment to retention to performance, company culture impacts every facet of your business.
But how can this be? Competitive salaries and great benefits are what job seekers and employees really care about, right?
Well, not exactly.
There are lots of studies that have revealed the importance of company culture. Here’s a few:
- 66% of job seekers consider a company’s culture and values the most important factor when considering career opportunities – especially Millenials!
- Companies that actively manage their culture have 40% higher employee retention. Culture is about more than attracting talent. It also plays a huge role in retaining your top performers. Feel free to call Brittney at Spartan – she’ll confirm!
- Organizations with strong cultures boast 72% higher employee engagement rates than those with weak cultures. Company culture influences employee engagement, which has a direct impact on performance.
- Highly engaged teams outperform their peers by 10% in customer ratings, 21% in productivity and 22% in profitability. Simply put, engaged workers are productive workers, and productive workers are profitable workers.
So – how does one go about building or improving upon their company’s culture?
Stay tuned – that will be part four of our series!
As always, feel free to contact us at More Floods anytime – we’d love to hear from you, learn more about your business, and see if we may be able to help you drive lasting, permanent growth in your water damage company!