Spending money is never fun… Well, maybe if you’re buying a new boat or paying for a vacation it’s kind of fun. Investing in your workplace culture? That might sound less-than-exciting and not worthwhile, but that’s the opposite of true. Investing in culture will pay you back in dividends that show up all throughout your workplace (and in your bottom line).
According to Digital Information World, 72% of executives believe culture is the secret to high performance, yet only 32% believe their culture is well-aligned with their business strategies.
Company culture is a term that incorporates all attitudes, ideas, and attributes within your organization. Every employee exhibits the culture through their actions and behaviors. They may not be exhibiting the culture you would like them to, but that’s a conversation we can have later.
Building or transforming your culture might seem impossible because it’s such a broad and new concept for most. On a high level, culture transformation entails building/strengthening your vision, aligning desires with strategies, and gathering support through heavy communication.
The word “transformation” sounds daunting, but if you know the rewards to come afterwards, you should feel more optimistic. After a few years of cultural transformation, companies saw net profits increase 85%, workforce grow 25%, and employee engagement increase 50 points. To remind you, employee engagement brings 17% higher productivity, 20% higher sales, and 21% higher profitability.
As COVID-19 continues to make its impact everywhere, it’s also making many impacts in the workplace. For example, the desire for “meaningful work” is rapidly increasing. People no longer solely want to be paid well; they want company culture, meaning, and motivation. When work aligns with the values of employees, innovation and motivation increase, bringing engagement and productivity upward. Meaningful work has quickly become the difference maker between employees who bring down company culture, and those who actively work to lift up company culture.
When deciding whether to invest in your company culture, consider these questions:
- Is there alignment with our vision and strategy?
- Are we actively developing our employees and teams?
- Are employees engaged and motivated to do their best work?
- Is heavy communication encouraged?
- Do employees and teams have clear guidance in reaching goals (individual, team, and organization)?
- Does the company culture maximize the potential of all employees?
Once you answer these questions, it’s time to realistically think about beginning your cultural transformation.
Reach out for a free strategy session today and let’s start building a workplace people love!