Did you know that companies with a strong company culture outperform their competitors by 20% in terms of revenue growth and 72% in employee engagement?

According to a study by Deloitte, 94% of executives and 88% of employees believe that a strong culture is critical to a company's success. In today's highly competitive business world, having a strong company culture has become more critical than ever. In this article, we'll explore why having a strong company culture is important and how it can benefit your organization.

At iU we always believed that culture came above talent. Culture has a greater place than your aptitude. Sometimes compromising the kind of business you could get, kind of people your retain simply versus things don't meet the culture you would like to keep is a TOTALLY OK thing. We believed in keeping this online media bootstrapped or crowdfunded only and it has paid off. The joy of directing this platform and steering it in a way that can help retain its original vision of building a solid base for a positivity media platform, is unmatched. Everything is in culture. Isn't it? 

Here are some reasons for you to consider investing greater energy and money in building a solid foundation of culture at your company:

1. Attracts and retains top talent:

Having a strong company culture can be a major selling point for prospective employees. In fact, a Glassdoor survey found that 77% of job seekers consider a company's culture before applying for a job. By creating a positive work environment, offering meaningful work, and valuing employees' contributions, you can attract and retain top talent.

2. Improves employee engagement and productivity:

When employees feel connected to the company's culture, they're more likely to be engaged and motivated at work. Engaged employees are more productive and produce higher-quality work, leading to better business outcomes.

Gallup estimates that companies with engaged employees outperform their competitors by 147% in earnings per share.

3. Fosters innovation and creativity:

A strong company culture encourages creativity and innovation. When employees feel free to express their ideas and opinions, they're more likely to come up with new and innovative solutions to problems. This can lead to new products, services, and processes that can help your business grow and stay ahead of the competition.

4. Builds a strong brand:

A strong company culture can also help build a strong brand. When your employees are passionate about your company's mission and values, they're more likely to be your brand ambassadors. This can lead to positive word-of-mouth marketing and attract new customers who share your values.

5. Improves customer satisfaction:

A strong company culture can also improve customer satisfaction. When employees feel valued and supported, they're more likely to provide excellent customer service. Happy customers are more likely to return and recommend your business to others.

6. Increases employee loyalty and reduces turnover:

When employees feel connected to the company's culture, they're more likely to be loyal and committed to the organization. This can lead to lower turnover rates, which can save your company time and money in recruiting and training new employees.

7. Enhances teamwork and collaboration:

A strong company culture can also improve teamwork and collaboration. When employees share common values and goals, they're more likely to work together effectively and efficiently. This can lead to better communication, increased productivity, and better business outcomes.

Related Read: Benefits of Co-Working Spaces for Startups

8. Supports employee development and growth:

A strong company culture can also support employee development and growth. When employees feel valued and supported, they're more likely to seek out opportunities for learning and development. This can lead to a more skilled and motivated workforce, which can benefit your organization in the long run.

9. Promotes diversity and inclusion:

A strong company culture can also promote diversity and inclusion. When employees feel valued and respected for their differences, they're more likely to feel included and engaged at work. This can lead to a more diverse and inclusive workplace, which can help your organization better serve its customers and communities.

10. Creates a sense of purpose and meaning:

Finally, a strong company culture can create a sense of purpose and meaning for employees. When employees feel like they're part of something bigger than themselves, they're more likely to feel fulfilled and satisfied at work. This can lead to higher levels of employee well-being and happiness, which can benefit your organization in many ways.

Conclusion:

Having a strong company culture is essential for any organization that wants to succeed in today's competitive business world. By creating a positive work environment, valuing employees' contributions, and promoting shared values and goals, you can build a strong culture that benefits both your organization and your employees.

With the many benefits that come with having a strong culture, it's clear that investing in your company's culture is a smart decision for any business owner or leader.