The Underestimated Value of Corporate Culture

The culture of a company is an essential, yet, often overlooked element of a company. A recent study by economists at the University of Warwick, found that happiness and productivity are correlated, with happiness making workers 12% more productive on average. Thea O’Connor recalls productivity expert, Cholena Orr's 5 essential points about what corporate culture means, and how it is best created.

Wide Strategy summarizes the points below:

1. Perks do not necessarily drive a better work culture. Employees are motivated to work for varying reasons; for some it is recognition, for others it may be competition.

2. To say culture is a mood, is to oversimplify the term. A company’s culture is created and recreated by multiple factors, which include but are not limited to the behaviours, practices and attitudes of the company's team. 

3. Although culture is a collective manifestation, the values and beliefs of the company’s CEO are central to how the company’s culture will be shaped.

4. Hiring employees based on character and motivation is often more important than hiring based on skill and experience. A team’s positive attitude and willingness to work will promote a better work culture.

5. A positive culture is not something that just happens; it is a goal that must be consciously worked towards. Investing in positive workplace culture is essential to the operational success of a company.