Why 70% of companies lack the resources to market company culture
Friday, July 28, 2023
Did you know, Small businesses make up for 90% of all global companies? In today's competitive business landscape, company culture has emerged as a critical factor for success. However, a concerning trend has emerged, revealing that a staggering 70% of companies lack the resources to effectively market their company culture. In this article we cover the top reasons and consequences of why companies don't prioritise marketing their company culture.
Lack of awareness and prioritisation
Even when companies recognise the importance of a strong company culture, they may not fully grasp its marketing potential. In many cases, business leaders and executives focus more on external marketing efforts aimed at acquiring customers, neglecting the need to showcase their unique organisational environment.
The absence of awareness and prioritisation around marketing company culture hampers efforts to attract and retain top talent, which can directly impact the bottom line.
Insufficient internal communication
Internal communication plays a vital role in shaping and reinforcing company culture. However, without the proper resources, companies struggle to establish effective communication channels to promote and engage employees in their cultural values. A lack of clear communication can lead to misunderstandings, low morale, and disengagement among team members. Ultimately, this can erode the foundation of a healthy company culture.
Limited time and expertise
Building and marketing company culture require significant time and expertise. For many companies, especially those with small teams, dedicating sufficient resources to nurture and communicate company culture can be challenging.
Human resources departments often face competing priorities, leaving little room to focus on developing and marketing cultural initiatives. The absence of expertise in branding, marketing, and internal communications further aggravates the problem.
Consequences of neglecting company culture marketing
Difficulty Attracting Top Talent
A vibrant company culture is a magnet for skilled professionals seeking a workplace that aligns with their values and aspirations. Without effective marketing efforts, companies may struggle to attract top talent, leading to difficulties in recruiting individuals who can contribute to their growth and success.
Higher Employee Turnover
Employees are more likely to stay with a company that offers a positive and inclusive culture. However, without proper marketing and communication, employees may feel disconnected from the company's values and purpose. This disengagement can result in higher turnover rates, negatively impacting morale, productivity, and ultimately, the company's long-term success.
Missed Opportunities for Brand Differentiation
A unique and compelling company culture can differentiate a brand in the marketplace. By neglecting to market their culture, companies miss out on the opportunity to showcase their distinct values, work environment, and employee experiences. This oversight can hinder their ability to stand out from competitors and establish a strong brand identity.
While company culture is increasingly recognised as a vital element of business success, the lack of resources allocated to its marketing remains a significant challenge for many companies. To harness the benefits of a vibrant company culture, organisations must prioritise and invest in the necessary resources, including financial, human, and strategic, to effectively communicate and market their unique cultural values. By doing so, companies can attract top talent, foster employee engagement, and ultimately drive their long-term growth and success.