Company culture has a significant impact on organizational success. According to this Workplace Culture Survey, 77 percent of employees believe work culture influences their productivity while 74 percent believe it impacts their ability to serve customers. This means a successful culture can shape everything—from the number of deadlines you hit to your percent of satisfied customers. Ultimately, a happy workplace drives both individual and overall productivity.
Employee turnover can have a significant impact on your bottom line. Employment professionals estimate that turnover costs between 1.5 to 2 times an employee’s salary. For every employee that quits who earned $100,000, your company could spend $200,000 in hiring and training costs—not to mention the lost productivity from other employees who need to pick up the slack.
Leadership skills and methods need to change to accommodate the new hybrid model of work, part in-person, and part virtual. Coordinating remote teams is quite different from coordinating office teams. Leaders need to improve some skills and even acquire new ones to stay relevant and effective.
If you have a hard time keeping your employees engaged and motivated, you’re not alone. Morale and motivation are hard to get these days. More than 100,000 workers quit their jobs every day, resulting in billions in lost productivity and hiring costs.
Company values are the core set of principles that your company stands by and promotes. Some might think these are just a bunch of nice-sounding slogans or a marketing stunt meant to attract customers. But when you stand by your values and place them at the core of your business, they can act as a guide for your employees in those unpredictable situations that aren’t mapped by your set of procedures.
Procedures are a well-established set of rules that let people know how they should behave in certain situations. These are in place to make the workflow predictable, the operations quicker, and the overall business more effective. However, you can’t possibly have rules for any possible situation, and you must make sure that your employees make the best decisions in those unpredictable situations. Therefore, both values and procedures are important for the prosperity of your business.
Six months into the new Coronavirus pandemic and we still have no clue when this crisis is going to end. Medical experts like Dr. Lisa Maragakis, an infectious disease specialist at Johns Hopkins, think that the pandemic’s first wave is gone. Most likely, we are now at the beginning of the second wave. So what does that mean for how people work together and businesses operate?
Leaders are facing an unparalleled workplace experience. The degree of uncertainty we are now navigating is extraordinary for most businesses everywhere in the world. Nobody knows when this sanitary crisis is going to end or what is going to happen in a couple of months from now. And nobody can predict the impact on employees, customers, even the supply chain.
We can all agree that the COVID-19 pandemic has changed everything in the way we live, socialize, interact, communicate, and work. With a majority of companies moving away from the offices, nothing took a greater hit than organizational culture.
When you think of brand image, is your focus on external marketing plans like social media campaigns, fonts and logos? While these are crucial to your brand communication strategy, how the business communicates internally is just as important as how it’s presented externally.
Maintaining a healthy work-life balance can be difficult in today’s culture that celebrates being always on. In fact, 94 percent of 1,000 professionals surveyed by the Harvard Business Review said they put in 50 or more hours a week at work. What’s more, nearly half that group clocked in more than 65 hours a week.
