Everyone has heard of the corporate structure. First you have your executive, then your associates, managers, and finally the employees. As you move down the pyramid, the pay decreases as does the individual value of each person. This is highly dangerous and inefficient in the corporate sector. It’s time to change company culture for the better.
Your employees are the essence of what your business really is. They do most of the work, provide ideas, and define the culture of a business. The satisfaction of employees must be evaluated in order to consider numerous things such as productivity, success, and profitability.
Unhappy employees are more likely to be less productive. We saw this in abundance during the COVID-19 pandemic. Employees were overworked, frustrated and confused about their transition from in-person to remote work and productivity declined. In 2020, seven trillion dollars in revenue was lost due to a sharp decline in productivity.
Businesses could have avoided this disastrous outcome had they evaluated their employees working state sooner. Consumers regard employees as the face of the brand. Their collective interactions serve a multitude of business purposes, including sales, customer feedback, and overall productivity.
Employees Are Your Greatest Asset: Treat Them Right
People working in a less-than-suitable environment can have a detrimental impact on the company. This is one of the main reasons that culture has to be emphasized in all businesses. The solution to a better business is often simply focusing on the employees who run the business.
Yes, there can be significant barriers to change in the beginning stemming from employee attitude but the greater good of the workplace environment benefits from cultural reinforcement. Employees do have a right to be scared about changes in culture, especially if they have had similar experiences.
Culture changes to experienced employees are commonly associated with shifts in power, job loss, corporate takeover, lack of respect, and increased burdens. Company culture transitions can be a negative experience for some employees, but if done effectively the benefits will outweigh the risks.
Some of the benefits include a rise in revenue by 685%, stock price by 901%, and net growth by 756%. These lucrative benefits can be persuasive when it comes to changing corporate culture but it must be motivated by a desire to increase the positivity and productivity for employees.
Employees who feel valued and find meaning in their work are one-third more likely to remain at that job. Research has shown that Gen Z and millennials appreciate and value companies that meet societal needs and fiscal ones. By finding time to listen to what your employees value you can ensure that you enact positive and lasting corporate change.
Company culture needs to be reassessed and reapplied to every business in order for the next generation of businesses to thrive. Focusing on employee based culture will allow for innovation and motivation to come from within.