Workers Agree: Company Culture Matters
(From Business Wire) — As many companies continue to focus on recession management strategies such as cutting costs and increasing operational efficiencies, Randstad’s latest Work Watch survey reveals company culture is a critical driver of business success. In fact, two thirds of working adults (66 percent) believe that company culture is very important to the success of their organizations. The survey also found that employees believe company culture has the greatest impact on employee morale (35 percent), followed by employee productivity (22 percent). Twenty-three percent of younger workers, ages 18 to 34, say it plays the biggest role in building job satisfaction. While company culture may be the secret weapon companies need to retain workers and increase productivity and morale, it has suffered during the past two years. According to survey respondents, 59 percent believe that recent economic events have had a negative impact on company culture. With layoffs, reduced benefits and wages, morale has suffered and many workers are feeling disengaged from their employers. “Companies that will perform well will nurture the factors that make their employees feel happier and engaged at work, more connected to overall results, and more motivated to make a strong contribution,” said Eileen Habelow, PhD., Randstad’s senior vice president of organizational development. “Going forward, companies can’t ignore culture. Rather, it should be addressed as a critical component of their overall business strategy.” Read more.