Let's try this: The general mood within a company comes from employees watching and listening to what happens to them and to others around them, like colleagues and customers. From these observations, employees can draw conclusions about what the company thinks is important.

Organizational climate can be created "by employees observing" what happens to them and what goes on around them, and drawing their own conclusions about the organization's priorities and "what it values." =OC can be created in this way: employees observe things that happen to them and things that happen around them, then they draw conclusions about the organization's priorities and what the organization values. (Los empleados observan lo que se les pasa y lo que sucede en la oficina, y a través de eso...)

It does make sense... I've expanded the text slightly to explain it, and put in capitals the phrases which you're having trouble with: 'Organizational climate can be created WHEN EMPLOYEES OBSERVE what happens to them and what goes on around them, and when they draw their own conclusions about the organization's priorities and (when they also draw their own conclusions about) THE THINGS WHICH THE ORGANIZATION VALUES. Does that help?