The culture of a business may be the most significant factor in determining a company’s success. The Harvard Business Review reports culture directly impacts employee satisfaction, job performance, business creativity, commitment and loyalty, retention and absenteeism, and — perhaps the most important quality to executives — the bottom line.
The best companies in the country know the power of a positive work environment both for their employees and key stakeholders. Fortune magazine’s list of the 100 best companies to work for in 2015 found one of the most notable trends among top businesses in the U.S. is that their leaders view workplace culture as a competitive tool and work to constantly improve it to increase performance.
Companies that take care of their employees see more employees taking better care of business. The Fortune survey also reported that the top leaders sought employee feedback to involve them in creating company policies and programs. By making the workforce an integral part of the shaping of the culture, it thrives.
In 2015, millennials — those aged 18 to 34 — became the cohort with the largest presence in the American workforce for the first time, according to data by Pew Research Center. The PwC “Millennials at Work: Reshaping the Workplace” report found a strong work/life balance and prominent diversity policies were top considerations for millennial professionals, and more than 55 percent would consider leaving an employer that didn’t meet value expectations.