How corporate culture impacts your bottom line, and how to measure it
Contrary to popular thinking, corporate culture is not an ‘airy fairy’ concept, but a business issue that has a direct bearing on your organisation’s bottom line.
Mike Turner, the Managing Director of You Become, says developing a strong corporate culture should be treated like any other key business objective.
Your corporate culture, which includes elements such as the work environment, leadership styles, policies and procedures, company goals, ethics, expectations and mission, is the identity and personality of your company.
A strong corporate culture helps you to attract and retain top talent, promote your brand, boost employee engagement, increase productivity, and distinguish your organisation and its products/services from your competitors. It plays a key role in customer satisfaction and determines your company’s reputation.
It is important to your employees because the more comfortable they feel with your company culture, the happier and therefore more productive they will be. Not only that, they’ll likely stay longer with your company too. So, a strong company culture will boost engagement, retention and productivity levels. What’s more, as word spreads, your company will be able to attract more top candidates.
Leading companies recognise the value of corporate culture. Rather than view it as something for HR to “deal with”, they see it as a business issue that has a big impact on their organisation’s ability to generate a return on investment.
They prioritise and measure corporate culture in the same way they do other business objectives such as sales, marketing, product development, and financial growth.
Turner and his team spent years researching the best practices in corporate culture. In his latest video he describes how there are six areas or ‘pillars’ that form the foundation of a strong corporate culture. More importantly, he describes how they can be developed and measured by an organisation.
For more detailed information about how You Become can help your organisation to enhance your corporate culture, boost engagement and therefore productivity, please call a member of our team on 01932 977 090. You Become is a leading expert in employee engagement and organisational culture for ambitious UK companies.