News: Report: Workplace culture impacts company’s financial performance

Culture

Report: Workplace culture impacts company’s financial performance

Dale Carnegie research reveals 92% leaders believe workplace culture has a high impact on a company's financial performance
Report: Workplace culture impacts company’s financial performance

Recent Dale Carnegie research reveals that a strong corporate culture is an important factor for winning in a competitive marketplace. Its white paper on ‘Transforming Attitudes and Actions: How Senior Leaders Create Successful Workplace Cultures’ indicated that 92% of the leaders from successful companies believe that workplace culture has a high impact on company’s financial performance. 

The research analyses the perceptions of senior leaders on the strength of their own company cultures, their attitudes about its importance and impact, and actions they are taking to improve it. 

Further report describes that a company’s culture is based on how things are done and the values they profess, its real essence is the unconscious thoughts that drive employees’ decisions and behaviors each day. Company’s culture determines how employees see themselves as part of the organization, and how they relate to customers, how they interact with authority, approach problem-solving, how they understand the business overall, make strategic decisions, describe their company’s purpose and more. Senior leaders from culture champion companies seem particularly attuned to this shift. 

The report highlighted that - 44% of CC leaders cited workplace transparency as a challenge to maintain a high-performing culture, compared with just 27% of other respondents.

Pallavi Jha, Chairperson and Managing Director, Dale Carnegie Training India said, “Creating an effective and engaging workplace culture continues to be a top priority for companies globally. The research has shown us that the workplace culture has 20-30% differential outcome on company’s performance. It is very interesting to know that almost 95% of the respondents said that they prioritize workplace culture. But one needs to know that corporate culture runs deep; the fact that it’s embedded in nearly everything an organization thinks and does is what makes it so powerful – and so hard to transform."

Other major findings of the report are: 

84% of executives from leading organizations are currently taking measures to enhance their workplace culture

Top three things successful companies are doing to improve their culture through engaging employees are: 

  1. 43% providing developmental training 
  2. 37% improving workplace conditions 
  3. 30% creating clear paths for career advancement 

( Source: Dale Carnegie's white paper on ‘Transforming Attitudes and Actions: How Senior Leaders Create Successful Workplace Cultures’)

Topics: Culture

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