What truly makes a workplace great? By Olubukola Lanipekun-Lawal

A company can invest millions in its modern offices, offer competitive salaries and provide attractive employee benefits, yet still fail the people whose work sustains it. The warning signs may not appear on a balance sheet immediately. They emerge when talented employees stop contributing ideas, when capable people leave because they see no future, and when teams become more concerned with avoiding blame than achieving meaningful results.

A great workplace is not defined solely by what an organisation provides on paper. It is revealed by how people experience work every day, and by what they are able to accomplish because of it. Their judgement, creativity, commitment and ability to work together shape the quality of decisions, the strength of customer relationships and the institution’s capacity to adapt. Workplace culture is therefore not a soft consideration. It is a strategic asset that drives organizational performance, resilience and long term sustainability.

Trust is the starting point. Employees must have confidence that leaders will communicate honestly, act with integrity, keep their commitments, and make decisions fairly and consistently.

Trust grows when managers explain decisions, acknowledge mistakes, listen to feedback and treat employees with respect, including when difficult conversations are necessary. It weakens when standards are applied selectively or when an organisation’s stated values are contradicted by everyday behaviour.

The cost of neglecting this foundation is significant. According to Gallup’s State of the Global Workplace 2026 report, only 20% of employees worldwide were engaged at work in 2025, with low employee engagement estimated to have cost the global economy approximately US$10 trillion in lost productivity. This highlights the significant economic and organisational consequences of disengagement and reinforces the importance of building workplaces where employees feel motivated, valued and empowered to contribute.

A safe work culture is reflected in how leaders behave under pressure, how teams collaborate, how performance is assessed and how people are treated when they make mistakes. A healthy culture connects the organisation’s purpose and values to practical expectations. It makes clear what good performance looks like, encourages accountability and supports responsible decision- making.

In a financial institution, for example, a strong risk culture must extend beyond policies, procedures and compliance frameworks . Employees must understand why controls matter, feel responsible for protecting customers and the institution, and know that doing the right thing is valued even when it is less convenient. Their conduct determines whether values become habits or remain words on a wall.

Ultimately, culture becomes meaningful when organisational values influence everyday choices and behaviours. The true strength of a workplace culture lies not in what an organisation says it believes, but in what its people consistently experience and practice.

A great workplace makes it possible for people with different experiences, perspectives and capabilities to contribute. Diversity may bring people into an organisation, but inclusion ensures that that they are heard, respected and given opportunities to make meaningful contributions.

This requires more than representation. It involves fair recruitment, transparent promotion processes, access to learning, reasonable accommodation and an environment where employees can participate without feeling that they must conceal important parts of themselves to belong. It also requires leaders to examine whose ideas receive attention, who gets developmental opportunities and whether advancement is based on clear, and consistent criteria.

When people feel included, organisations draw on a wider range of insight and experience. This can improve problem-solving, strengthen innovation and help institutions understand the evolving needs of customers and communities.

Employee wellbeing should not be treated as an occasional initiative or a responsibility that rests entirely on individuals. Workplaces influence people’s physical, mental and social wellbeing through workload, management practices, flexibility, relationships and the degree of control employees have over their work.

This is particularly relevant in Nigeria, where economic uncertainty and rising cost of living and the demands of daily life can add to the strain employees already experience. Organisations cannot resolve every external pressure, but they can create healthier working environments

Gallup’s 2024 global workplace research found that 41 per cent of employees experienced a lot of daily stress. Over time, it can undermine concentration, collaboration, decision-making and retention. Supporting employee wellbeing is therefore both a human responsibility and a strategic investment in organisational sustainability. When people feel supported, they are better positioned to remain engaged, maintain productivity and deliver consistent performance.

People want to know that their contribution matters and that their future is not limited by the role they occupy today. A great workplace provides opportunities to learn, take on responsibility and develop capabilities that remain relevant as industries change.

This calls for structured learning, mentoring, constructive feedback, leadership development and meaningful career conversations. It also means recognising performance fairly. Timely acknowledgement, useful feedback and the opportunity to lead a significant assignment can demonstrate that effort and results are valued. As organizations evolve and new technologies transform the nature of work, organisations must equip employees with the capabilities required to remain relevant, adaptable and effective.

The significance of workplace culture extends beyond individual companies. Organisations are important environments in which people apply, deepen and transfer their skills. When employees are supported to learn and perform, the benefits extends to improved productivity, stronger businesses, enhanced service delivery and more resilient institutions.

This is especially important for Nigeria, where improving human capital and workforce capability remains central to sustainable economic growth. In February 2026, the World Bank highlighted the substantial economic consequences of deficits in nutrition, learning and on-the- job skills in Nigeria, estimating that these gaps could result in future earnings losses equivalent to 111 per cent of the projected earnings of children born today. The finding underscores the importance of learning throughout life, including the development that takes place after employment. Organisations that prioritise their people therefore contribute to more than their own commercial success. They support the development of a skilled, innovative and productive workforce capable of advancing national economic growth and competitiveness.

There is no single programme or award that makes an organisation a great place to work. Creating a great workplace is not the outcome of a single initiative, policy or recognition. It is the result of deliberate and consistent efforts to build trust, strengthen leadership, promote inclusion, support employee wellbeing and create opportunities for people to grow and succeed.

At FSDH Merchant Bank, achieving Great Place To Work® certification for the fourth consecutive year, alongside other workplace recognitions, is an encouraging affirmation of the environment we continue to build. These achievements reflect our sustained commitment to fostering an inclusive workplace where people feel valued, respected and empowered to contribute their best, enabling stronger innovation and better outcomes for our customers and communities.

However, recognition is not an end in itself. Rather, it is both a validation of the progress made and a responsibility to continue listening, learning, and improving as we create an even better workplace for our people.

Our aspiration is not simply to be recognised as a great place to work, but to ensure that this recognition is consistently reflected in the everyday experiences of our people.

Ultimately, a great workplace is one where people are trusted to contribute, empowered to grow, treated with dignity and supported to achieve their full potential.

When organisations create these conditions, employees thrive, businesses become stronger and the wider economy benefits from a more capable, engaged, and productive workforce. The true measure of a workplace is not merely its ability to attract talent, but its capacity to inspire people to stay, grow, contribute meaningfully and succeed.

* Olubukola Lanipekun-Lawal is Head, Human Resources at FSDH Merchant Bank