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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 organization. WORKER HAPPINESS CULTURE & RETENTION BILLION LOST FORBES CALLED 2014 $550 DUE TO UNHAPPY THE YEAR OF THE WORKERS EMPLOYEE ANNUALLY UNHAPPY EMPLOYER BRAND EMPLOYEES OUTNUMBER HAPPY Is essential EMPLOYEES 2 TO 1 TO TARGET GLOBALLY THE BEST HAPPINESS TALENT IN THE MARKET 50% CAN BOOST Only 14% of employees understand their PRODUCTIVITY company's strategy and direction ONLY 30% OF U.S. EMPLOYEES FEEL SATISFIED WITH THEIR CURRENT JOB COMPANIES with a low level of engagement see an average 32.7% decline in operating income MILLENNIALS VALUE PRAISE OVER PAY 84% name giving back to their community as the number one career driver over compensation or benefits "THE PRODUCT IS THE CURRENT PRODUCT. THE CULTURE IS THE NEXT HUNDRED PRODUCTS." - PHIL LIBIN, EVERNOTE CEO 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 o DEVELOP A CLEAR VISION & STRATEGY o CREATE GOALS & MEASURES TO FOLLOW o BUILD A PASSION FOR YOUR VISION o PROVIDE CLARITY ACROSS THE ORGANIZATION O START AT THE TOP TO BUILD INTERNAL CULTURE o RELAY YOUR MESSAGE TO THE MASSES SOURCES: Qualigence THE GLOBAL INNOVATION NDEX INTERN ATIONAL "PERFORMANCE MANAGEMENT: PUTTING RESEARCH INTO ACTION, William Schiemann CAREERBUILDER TALENT SURVEY Hire Better Talent FORBES, GALLOP STUDY AMERICAN PSYCHOLOGICAL ASSOCIATION

The Importance of Company Culture

shared by mking on May 06
On the surface, it’s not difficult to comprehend why company culture matters for business. But as a company grows it becomes particularly important to decide what kind of company it is, and what ki...


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