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What Role Does Culture Play in Retention?

February 9th, 2018

For the sake of your business, and for the sake of its long-term health and sustainability, you want your workforce to be happy. Job satisfaction isn’t just a nice perk that you, as an employer, hand out with benevolence; it’s a signature aspect of any successful and functional business. Of course you can still make money with a miserable team—some companies do—but not very much, and not for very long. Poor satisfaction means high turnover, and high turnover means high costs and low productivity.

Long story short: It’s hard to stay competitive when your employees sign on reluctantly and spend their short tenures with one foot out the door. And a positive, thriving culture can keep that from happening. Here’s how.

Culture works like a magnet.

The impact of a positive culture starts long before the hiring process even begins. When talented candidates hear about your workplace and are motivated to apply, your overall applicant pool begins to improve. Your average candidate becomes nicer, smarter, more reliable and more highly qualified. Why? Because the best candidates always have plenty of options, and they won’t reach out to a company with a weak workplace reputation. They want the best, and they know they’ll find a welcome anywhere they go.

Culture knits people together.

A positive culture doesn’t just attract great candidates; it attracts candidates who already fit in and belong. Why? Because happy employees want to bring their own friends, family, and trusted colleagues onto the team. When those highly qualified friends apply and join the organization, they won’t have to build every relationship from the ground up. They’ll have a pathway to trust already in place.

Culture is contagious.

Once the best, smartest, and friendliest people are encouraged to sign on, they spread their positive energy and personal example to everyone around them. There’s much talk of how a single bad apple can ruin the barrel—and there’s truth in that folksy wisdom—but the opposite is also true: One great hire can bring cascading benefits to the entire team. Even better, these benefits can last for years after the person leaves.

Culture means stability.

A great employee will leave an average workplace within about two years (and that timeline shortens significantly in a below-average, toxic workplace). But when the boss feels like a friend and coworkers feel like family members, good people stay. Sometimes they stay for a long time, and they may even turn down offers from higher paying competitors.

A better culture means better relationships with vendors, clients and partners, a better product, a general sense of pride, and an upward spiral that brings long term benefits to the bottom line. Learn more by contacting the staffing and management experts at Merritt.

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