Why Company Culture Has Never Been More Important
The Great Resignation has shone a fresh spotlight on company culture and how it needs to evolve. A recent survey of 31,000 workers across the globe found that 41% of employees—almost half of the global workforce—are considering quitting their jobs. With so many valued employees considering a change, a standout company culture is critical to retain talent and outperform the competition.
In the supply chain sector, the impacts of labor constraints have never been greater. Employees are leaving their jobs to join companies that better suit their values and needs—and, because of the current climate, they have a number of organizations to choose from.
Amid this volatility, it’s critical for organizations to protect and invest in their workforce. While the migration of employees is a concern for the supply chain sector, it is also an opportunity for employers to reflect on their company culture and to evolve how their business partners with employees to meet their intrinsic needs.
Culture impacts happiness, happiness impacts productivity
When company culture is lacking employees feel undervalued, which may be due to compensation, a sense that they did not belong, inflexibility that does not match their lifestyle, or a lack of recognition for their work. In fact, 79% of employees that quit their jobs say that lack of appreciation was a major reason in their decision to leave.
In the supply chain, employees also face increasing pressure to ensure client satisfaction despite shortages and delays.
We’ve all heard the saying, “Do what makes you happy.” This concept is true for the workplace as well. Happy workers were 13% more productive when happy, finds a Oxford University’s Saïd Business School study. Creating a workplace and culture that prioritizes the employee experience is critical today.
To improve or change company culture, organizations need to take tangible steps forward.
1. Identify and define what their culture is and articulate this to employees. For example, if the goal is a culture of appreciation, then leaders should show appreciation so people will be inspired to do so themselves.
2. Leaders should reward behaviors that support the culture and course correct those that don’t. If employees don’t see words and actions linked at their organization, then they won’t believe in the organization’s larger purpose and goals.
3. Leaders should recognize that retaining talent goes beyond compensation and benefits. Leaders should take time to build relationships with employees to fully understand their career goals and how they are contributing to the company. Giving employees a clear career path, such as from seasonal to full-time, helps them see a future at the organization and increase their loyalty.
Outperforming the Competition
You can’t build a strong company culture overnight but taking steps to improve it can transform organizations. The supply chain sector has a unique opportunity amid the Great Resignation to create companies that respect, value and inspire all employees. Organizations with strong cultures will outperform competitors in attracting talent, retaining employees, and meeting client needs.