4 Ways to Leverage HR Strategy and Grow Your Small Business
When planning for long-term business success, be sure to include these 4 HR strategies to improve employee engagement, retention, and morale.
Understand the effects that both a positive and negative workplace culture can have on your employee turnover.
Understanding the importance of workplace culture is crucial. It allows you to determine your organization's values and attitudes, which then impact your employees' job satisfaction and overall turnover.
Workplace culture can be defined as the shared values, beliefs, attitudes, and behavioral norms that shape the overall environment, productivity, and relationships within a company. This includes both the written and unwritten expectations for employee behavior, as well as the interactions and relationships between coworkers.
Your workplace culture influences everything from your company's mission and vision, to employee satisfaction, work-life balance, and overall productivity. Ultimately, a positive workplace culture is one that supports the well-being and success of your employees, while also promoting a positive and productive work environment.
Having a positive workplace culture is crucial for both employers and employees. When employees feel valued at work and connected to their colleagues, they are more likely to stay and contribute their best work. On the other hand, a negative workplace culture can leave employees feeling demotivated and disengaged, ultimately leading to high employee turnover.
Negative workplace culture may include poor communication, high employee turnover, and a lack of motivation among employees. The overall environment and attitude of the employees and management are negative, toxic, or unhealthy.
When a company has a negative workplace culture, it is typically manifested by any combination of the following:
A toxic workplace is one of the primary reasons why employees quit their jobs, and turnover is extremely expensive. When you take into account all the lost productivity and replacement costs, some employers estimate the price to replace an employee is anywhere from three to four times the position’s salary.
Unfortunately, a negative workplace culture is not uncommon in the United States. A 2019 SHRM study found that:
If your business has any signs of a negative workplace culture, your company’s productivity, bottom line, and overall success may be at risk.
In contrast to a negative workplace culture, a positive workplace culture is a work environment where employees feel respected, valued, supported, and motivated. These workers are engaged in their work as it promotes open communication, collaboration, and teamwork.
Having a positive workplace culture is manifest by any combination of the following:
Workplace culture is influenced by leadership and organizational structure and can improve teamwork, morale, and productivity. Most importantly, a positive workplace culture reduces employee stress, improves job satisfaction, and enhances work performance.
At the end of the day, having a positive workplace culture helps you attract and retain top talent, motivate employees to be productive and innovative, increase client satisfaction, lower your employee turnover, and ultimately improve your bottom line.
Investing in a positive workplace culture can help you retain top talent and boost overall morale and productivity. To improve your workplace culture, start by instilling a sense of belonging among all staff members. Find out what your employees value and discover ways to motivate and keep them engaged.
A positive workplace culture can be enhanced through social events, networking opportunities, and career development programs. When employees feel like they are part of a supportive team, they are more likely to be invested in their work.
A positive workplace culture is key to retaining employees and increasing job satisfaction, but many small and midsize businesses feel strapped by a tight budget and/or overwhelmed with where to begin. The answer may be as simple as partnering with a professional employer organization, or PEO.
Small and midsize businesses typically choose to partner with a PEO to simplify their day-to-day workplace processes. While they receive immediate relief from mundane transactional tasks like employee paperwork, payroll, benefits administration, employment taxes, workers’ comp, and so on, they also gain valuable HR support.
This HR support is provided by a certified HR expert who helps your in-house HR or office manager develop initiatives to help your employees thrive. They will also help you establish clear channels for communication, provide performance feedback, and facilitate employee recognition programs that will contribute to a positive workplace culture.
Don't settle for a toxic workplace culture that drives valuable employees away. Our experts at Stratus HR can help you create a positive, inclusive environment that boosts morale and productivity. Book a consultation today to find out how.
When planning for long-term business success, be sure to include these 4 HR strategies to improve employee engagement, retention, and morale.
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