Richard Ghilarducci: Company Culture Should be Prioritized

Company culture is one of the most critical foundations of all businesses, according to Richard Ghilarducci. When employees' needs and goals align almost seamlessly with their company culture, it's more likely that employees will enjoy their work and be fulfilled by it. It can make employees feel like they have the best employer in the world. They'll love where they are and most probably feel like they're surrounded by the greatest people who do the most interesting things. 

But most importantly, they won't want to leave. 

Richard Ghilarducci says that a strong culture shows that the people are the priority in the company and not the output or revenue that it generates.

The Advantages of Having a Strong and Positive Company Culture

There are a number of potential advantages for your business if you have a strong and positive company culture. 

1. It can facilitate greater creativity and innovation: Engaged and productive employees feel motivated and inspired to bring innovative ideas to the table. Companies centered on innovation as well as creativity can have a competitive advantage in their industry because of their higher-quality services and products.

2. It can raise the morale of employees: Happy employees who are part of a great company culture that supports and values them want to do the best work they can, even as they face challenges. For most companies, motivating workers is definitely one of the highest priorities.

3. It can attract more top talent: Company culture plays quite a role in attracting top talent. Candidates will always be excited to apply for a role at your company if it has a reputation for strong values and if it is known to encourage growth.

4. It leads to higher employee retention rates: Employee retention is a forever issue for many businesses. When you show your employees that you care about them, Richard Ghilarducci says they'll feel more valued and, ultimately, committed to your organization. Your people will want to stick around longer. In fact, engaged employees are 87% less likely to leave a company. It also translates to lower recruiting and training costs, which are often associated with turnover.

5. It leads to higher engagement and productivity: When workers are happy, they become more engaged with their work. A study found that companies with high-level engagement are 21% more productive than those with lower-level engagement, adds Richard Ghilarducci.

During his career that spanned over three decades, Richard Ghilarducci held leadership roles, including as Chief Executive Officer. He was also a community leader and was elected Mayor for three terms. Read more about his leadership, communication, and management insights by following this page.