Company Culture is intangible, hard to measure actively, but easy to sense when you walk into an office space. A recent JLL Research report had some interesting insights into company culture that I would like to share.
Workplaces are rarely neutral when it comes to communicating a buzz of engagement or a sluggish vibe of resignation. company culture can significantly affect very real business outputs.
Companies that actively developed their culture returned 516% higher revenue and 755% higher income, according to a study of 207 organizations over 11 years.
Developing company culture is about creating sustainable investment in your workforce, capitalizing on its limitless potential.
Wehuns Tan, CEO of Whishabi says this about culture’s importance to the function of teams, corporate direction, and growth, “Culture is infectious—it’s viral and it’s central to accelerating your business. When you have a unified team that is rushing toward a common goal, you will create a rocket-ship trajectory. Every industry needs unbounded exponential growth to succeed in today’s world.”
A number of literature sources rightly argue that improving company culture lies with making employees happy through creating a desirable working environment.
Henry Stewart, author of “The Happy Manifesto,” writes that happy employees lead to “better customer satisfaction, lower staff turnover, fewer sick leave and easier retirement, which all lead to greater growth and profitability.”
Indeed, organizations that are on the “Best Companies to Work For” lists by the Great Place to Work® Institute consistently outperform major stock indices by 300% and have half the voluntary turnover rates of their competitors.
In creating a company culture, you want to not only take into account your current employees, but also what type of employees you want to attract. You want to create an environment that is encouraging of these types of people and makes the office a place that they want to be every day.