The Importance Of Company Culture

The Importance Of Company Culture

Having a productive lifestyle is one of the most important keys to living a long and fulfilling life, according to the American psychological Association. A healthy company culture also has a substantial impact on creativity and loyalty. As more millennials enter the workforce, consider these statistics on company culture and why it’s become an essential facet to finding and retaining the best possible talent for your organisation

Worker Happiness

• $550 Billion lost due to unhappy workers annually
• Unhappy employees outnumber happy employees 2 to 1 globally
• Happiness can boost productivity 50%
• Only 30% of U.S employees feel satisfied with their current job
• Millennials value praise over pay
• 84% name giving back to their community as the number one career driver over compensation or benefits

Culture & Retention

• Forbes called 2014 the year of the employee
• Employer brand is essential to target the best talent in the market
• Only 14% of employees understand their company’s strategy and direction
• Companies with low level engagement see an average 32.7%  decline in operating income

“The product is the next current product. The Culture is the next hundred products.”

Companies with both highly aligned cultures and highly aligned innovation strategies have 30% higher enterprise value growth and 17% higher profit growth than companies with low degrees of alignment.

Where To Start

• Develop a clear vision and strategy
• Create goals & measures to follow
• Build a passion for your vision
• Provide clarity across the organisation
• Start the top to build internal culture
• Relay your message to your masses