There’s a lot of talk these days about company culture. Although some business owners and managers think the workplace should be about work only, a little levity can significantly boost morale. Whether they buy into cultivating a company culture or not, most business owners and managers agree – positive workplace morale can be very beneficial.
Increase Productivity and Profitability
A positive, fun work environment can boost productivity. Employees who can share a laugh or have a little fun will not only be more productive – they will produce better results. The opportunity to laugh can provide comic relief for stress. A workplace where a little fun and laughter are encouraged will make for happier employees and even have them looking forward to coming to work.
This positive attitude combined with increased productivity can result in significant improvements to a company’s bottom line. The reduced stress level can also cut down on lost work days and paid sick time. Studies have shown that health care costs in high-stress industries are nearly 50% greater than at other organizations. According to the Harvard Business Review, the American economy loses $500 billion a year due to workplace stress.
It doesn’t have to to be a major event. It could be something as simple as sharing a silly GIF or funny facebook post with everyone. It can also help to take a little time to recognize and celebrate each other’s personal events and achievements such as birthdays, workplace anniversaries and promotions.
Build a Stronger Team
When employees can have fun together, it creates camaraderie and a bond that goes simply being coworkers. This is one of the key components to building a strong team, which can benefit employers and employees alike. Team building exercises and outings are a great way to foster group cohesion and have a little fun. Once they become a regular feature in your company culture, you will probably even find your employees looking forward to them.
When employees know they are part of a team, it builds confidence in their ability to tackle projects that would seem impossible on their own. It also provides employers with peace of mind knowing they have a strong team that will work together to problem solve and gets the job done.
Attract Top Talent
When you have a position to fill, you want to attract the most skilled and qualified applicants. Applicants of this caliber will be in demand and will be researching prospective employers. In addition to salary and healthcare, they will be looking at the company culture. Essentially, you will be competing against others in your industry to obtain the top talent.
It can be extremely beneficial for your company to present itself as a fun place to work where employees feel they will be part of a team. It’s also important to show how you support the work/life balance as this is extremely important to today’s workforce. This could include anything from wellness programs and flexible work schedules to cutting-edge equipment and personal development programs.
Creating Your Company Culture
It doesn’t matter if you’re a big corporation or a small, business, company culture matters. It can help grow your business or elevate it to the top of your industry. Whether you are just putting a company culture into place or you want to improve your existing culture, it can take a little extra cash. If waiting on outstanding invoices are holding you back, factoring with CapFlow Funding can be a great option to get the funds you need.
If you’re not waiting on invoices, but still need a little extra cash to kickstart your company culture, CapFlow has partners that provide services complementary to ours. We work with these partners to get you the appropriate funding for your business. Contact us today to find out how we can help.