A company is only as strong as the culture it invokes. Its values, leaders and decision-making process, among other aspects, all determine how it is branded both internally and externally. While cracks in a company's foundation are inevitable, the actions taken to remedy the issues often determine how highly it values company culture. The cost of not placing enough importance on company culture can be seen in decreased employee engagement and underperformance, increased reputational damage and diminished customer service and reliability. To avoid such consequences, there are a number of red flags to look out for, according to "Identifying and Responding to a Dysfunctional Corporate Culture," a new report from Marsh & McLennan Companies, with insights by WomenCorporateDirectors. These days, company culture is increasingly under scrutiny due to the reach of the internet and social media; this is most evidently embodied in the wake of the #MeToo movement. While culture is not a regularly scheduled agenda item in many boardrooms, this needs to change; but, this should be done in coordination with C-suite executives and others part of the management team as "they are the ones who are living and breathing the culture every day," notes the report. Related: Want to make better hires? Define your insurance agency culture

Time to take meaningful action

What actions can be taken? There are a number of options both inside and outside the boardroom. Inside the boardroom, audit committees can look to company data to analyze and detect cultural issues. Certain data points and metrics can illuminate any discrepancies in employee engagement and treatment across gender, race, age and tenure, among other variables. Another way is for compensation committees to review the compensation structure to determine if it aligns with the desired culture. For example, if one goal is to increase diversity in the workplace, metrics on diversity in hiring could be included in the compensation structure. Outside the boardroom, management can explore cultural issues when onboarding, meet employees on the job site and review social media (Twitter, LinkedIn) or recruitment sites (Glassdoor) as they can all provide a closer look into the company's culture. While no two companies are the same, all companies can — and should — take action and examine their company culture. Cultural issues only will fester and worsen until they are addressed. While the board of directors should make company culture a priority, they should work in unison with management to steer the company to their desired outcome — all while looking out for potential warning signs. With this in mind, here are 10 warning signs of a dysfunctional culture in the workplace. Related: Culture is key to attracting younger talent, but you can make it mutually beneficial