Is your business investing enough in company culture? Company culture is actually a huge component in how successful your business is. Seventy-two percent of executives say that culture is key to performance, yet only 32% believe their company culture is aligned with their current business strategies.
There are many reasons why culture is important and impactful. According to a decade-long study, companies who had a strong focus on company culture increased their revenue by 685%, stock price by 901%, net income by 756%, and job growth by 286%. Employee engagement, one of the most prominent points of a strong company culture, is found to increase high customer ratings by 10%, increase productivity by 17%, sales by 20%, and profitability by 21%. Yet, in 2020, 85% of employees are not engaged. That statistic alone equals a loss of $7 trillion in productivity.
Employees care about company culture. They want to know that the work they’re doing is meaningful and is meeting societal needs. Investing in company culture could mean the difference between a company that is stagnant or one that is growing.
Infographic by: ascensionts