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3 Reasons Why Company Culture Matters to Your Bottom Line

3 Reasons Why Company Culture Matters to Your Bottom Line

The beliefs and values that guide behavior in a company might seem like an intangible part of business. But culture is inextricably linked to your company’s bottom line. And at the heart of a high-performing culture is a communication strategy centered around a digital workplace.

Great leaders prioritize culture as a strategy rather than letting it evolve on its own. They recognize culture as a defining element of the workplace experience. The environment you provide for your employees touches every business goal you’re trying to reach. The key to a great workplace is ensuring every employee feels important and included. For industries who rely on dispersed employees who don’t sit at a desk, a digital workplace with a mobile, team communication app is the gold standard of communication strategies.

Heather Oliver, SCP-SPHR, Founder and CEO of Culture Strategies, Inc. works with executives to rethink and leverage corporate cultures that will maximize business returns by strengthening their workforce. "A purposeful organizational culture positively affects every part of a business. It increases your employee value proposition which differentiates you in attracting and retaining top talent. It increases productivity and effectiveness, leading to an enhanced customer experience and profit. It increases your overall competitive edge.”

A Digital Workplace Fuels Engagement and Increases Retention

Companies with distributed workforces have notoriously high turnover rates because employees don’t feel a connection to their jobs. In fact, only 13% of frontline workers are fully engaged at work. They’re often on the periphery, and sometimes not taken into account at all. But your mobile workforce needs to be a factor in every business decision you make, especially when it comes to your communication strategy. Your bottom line rests firmly on the employee experience.

A results-driven culture prioritizes an internal communications strategy and tools that drive engagement and increase retention. Beekeeper’s mobile team communication app is designed to do just that. The blueprints of the digital workplace platform engender inclusivity and encourage participation with features like inline translation that allows users to post and read content in their native language. Turnover drops by 24% in companies with high engagement. That means you’ll spend less money on replacing staff while increasing the lifetime value of each employee.

Southwest Airlines was built on a culture that puts employees first. But it’s no secret that they’re in business to make money. Their vision statement reads, “To become the World's Most Loved, Most Flown, and Most Profitable Airline.” They often tout their famous company culture as their direct link to the bottom line with a mission of “championing a Culture through which every Employee knows he or she matters.” And their strategy works. They have an incredibly low 3% turnover rate and have been profitable for 45 years running.

A Digital Workplace Creates a Collaborative Culture and Inspires Innovation

Workers in a factory

Having friends at work plays a big part in the employee experience. According to McKinsey, when employees feel connected productivity jumps by over 20%. An employee app like Beekeeper builds those connections in the workplace which in turn fosters collaboration. Employees become stakeholders and work together aligned to a common vision.

A digital workplace also makes innovation easier than ever by creating a space for employees to participate. Beekeeper’s innovative app allows companies to crowdsource for new ideas from their distributed workforce for company growth. Mining this untapped resource for ideas can increase your product or service offerings. Make sure to look out for employees with great ideas. An employee app can cultivate future leaders within the company, saving you money down the line by promoting from within.

With 16,000 employees across 40 countries, Dentsply Sirona is a big operation. The company is the largest manufacturer of dental products and technology in the world, catering to an industry forecasted to be worth $48 billion in 2024. It’s going to take a lot of ideas to supply that market. With Beekeeper, Dentsply Sirona can ensure their continued success and fill the growing need for dental products by connecting their distributed workforces, their scientists, and engineers to enable collaboration and generate new ideas.

Culture Builds A Better Brand, Inside and Out

When The Watergate Hotel in Washington, DC, chose Beekeeper as its communication platform to connect its 280 employees, their workforce became more informed and more engaged. With functions like digital signage in common areas, mobile streams for employee recognition, and real-time issue resolution in the employee app, the luxury hotel created a culture of belonging and teamwork. It didn’t take long for their internal success to trickle down to customers. The Watergate’s TripAdvisor scores went up thanks to a happy staff that was providing a better guest experience.

A digital workplace can build both your employer brand and customer-facing brand, both of which are integral to business success. You’ll be a top contender for recruiting, and retaining, talent. And, in a market where 89% of companies compete just on customer experience, a digital workplace will give you a competitive advantage. You’ll build a company employees want to work for and customers want to be a part of.

A team communications app is an investment with great returns. According to a recent survey, engaged employees contribute 20% more revenue than less engaged employees, and satisfied employees are 40% more productive than non-satisfied employees. When you want to boost that bottom line, create a culture built on a digital workplace.

Download our eBook, 15 Best Practices for Employee Engagement and start building a company culture to help your team thrive and improve your bottom line!