According to Havard Business Review, “Excellence = Design x Culture”
Anne Morriss at Harvard Business Review explains that building the right culture for your organization means fostering the unspoken rules that guide the organizational behaviour when guidelines are not present.
We have written about the importance of focusing on culture from the time of inception in our post 6 steps towards building your company culture.
We share 20 statistics on how culture impacts the company.
- 66% of job seekers consider company culture as a deciding criteria (source)
- 35% of job seekers in the US reject a job offer from companies with poor culture (source)
- 91% of the managers in the US consider an employee's alignment with the company culture equally or more important than skill and experience (source)
- 60% of employees in the US prioritize the quality of the job over pay (source)
- 88% of employees consider culture as the key to an organization's success (source)
- 76% of employees believe that a sound business strategy leads to a great company culture (source)
- 42% millennials consider learning and development opportunities as an important factor while applying for a job (source)
- 43% of employees are likely to leave if they feel that career growth options are limited (source)
- 85% of HR leaders believe that recognition initiatives help improve the organizational culture (source)
- 67% of millennials will leave a job that does not offer professional development opportunities (source)
- 56% of millennial employees believe in the idea of staying in one company for more than 20 years if the culture is right (source)
- Companies that are focused on an employee friendly culture report a 40% higher employee retention (source)
- Culture focused companies report 72% higher employee engagement rates (source)
- A strong company culture leads to better employee engagement which can result in 10% higher customer ratings, 21% increase in productivity and 22% increase in profitability (source)
- Companies with positive organizational cultures experience 72% higher employee engagement (source)
- 49% of employees believe that company culture has a stronger influence on their experience than physical workspace or the technology at the workplace (source)
- 38% of employees are ready to leave a company with negative or a non inclusive culture (source)
- 65% of employees consider culture as a key factor while deciding to stay at their jobs (source)
- Companies that focus on culture starting from the hiring process enjoy a 70% increase in the quality of their hires (source)
- 77% of U.S. employees believe a strong company culture empowers them to do their best work (source)
The culture building process demands attention, time and effort investment from leadership teams. Your culture needs to be communicated and reinforced across the organizational clearly and consistently. Engagepulse helps leadership teams communicate directly and consistently with each employee, gather feedback and create action items leading to a more fulfilling culture building process.