It takes time to run a small business or launch a startup! Company leaders must devote all their time and energy to creating and selling a successful product, leaving little or no time for anything else. The result of this inevitable fact is that the building blocks for a sustainable culture often become an after-thought.
While it can often feel difficult to justify spending the time or money on the seemingly abstract concept of “company culture”, most companies find this not-so-crazy trend to have a positive and long-lasting effect on their bottom line. In fact, studies show that investing even a little in company culture can provide compounding ROIReturn on Investment that may be difficult to attain at a later stage.
“The path of retention, productivity and profit is born from an inspiring corporate culture, with purpose as its core, and happiness as a business model.”
– Zappos, Delivering Happiness ™
Why is company culture so important?
Tangibly, a strong company culture drives growth and brand longevity, while keeping the staff and customer turnover low. Less tangibly, it makes for a happy workplace that, in turn, also creates happy customers.
Investing in the personality of a company:
- Motivates employees and spurs innovative thinking.
- Boosts morale and increases productivity.
- Makes “work” an enjoyable place to learn and grow
- And increases the value that employees place on the company.
Beyond Your Employees
Your company culture isn’t just about your staff. An inspired company personality extends beyond the workplace, and attracts loyal customers, investors, and community support. As a company grows, it has a strong base from which it can successfully expand into, and impact, the larger marketplace.
So if you haven’t considered company culture as a way to increase sales and optimize your team’s performance — now may be a good time to start.