07 30 2014

07 30 2014

Small Businesses Need To Work On Company Culture, Study Finds

Culture is an important element of running an efficient and successful business, even when an organization is on the smaller side. A recent study highlighted the importance of company culture in small businesses, and found many operations still have a long way to go in terms of creating a company culture that strengthens the employee experience.

The study, conducted by office design company turnstone, found that 89 percent of small business owners surveyed said culture is important to success. Those polled said positive company culture helps improve employee productivity and creativity and helps draw in and retain top quality workers. Respondents also said positive company culture helps companies grow and bring in greater profits. Furthermore, approximately 60 percent of those surveyed said company culture becomes more important as the number of employees at a given company increases.

“Culture becomes even more important to businesses as they grow in size, particularly after the 10th employee joins the team,” the researchers wrote.

Despite all of this, less than one third of those surveyed said they were satisfied with the current state of their company culture, marking a dissonance between company goals and realities.

Small business owners identify need for improvement

When asked, small business owners cited several areas in which they believe they need to grow to improve company culture. Approximately 27 percent of small business owners said they should offer more benefits that fall outside of compensation and health care, such as wellness programs, office events, flexible work agreements and free meals for staff. More than 30 percent noted that they need to improve their methods of motivation and should focus more on fostering a collaborative environment in which teamwork is valued.

“Less than a quarter of small businesses said employees feel supported to follow healthy behaviors throughout the day, including stepping away from their desks for breaks and changing postures/workstations throughout the day,” researchers wrote.

In addition to increasing transparency and creating a stronger bond between employees and company leaders, respondents said they could help improve culture by making changes to their offices. Such improvements could include shifting to an open floor plan, installing standing desks to give employees the opportunity to move around or expanding a break room to give staff a more welcoming atmosphere in which to relax. Remodeling an office can cost a significant amount of money – business owners interested in finding out more about small business loans should contact National Funding today.

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