Why good culture means good business
How organisations look after their employees – through benefits, rewards and recognition – defines their culture. But they differ in terms of how their HR leaders take the helm.
A recent study from HR tech firm BambooHR reveals 66% of employees believe their people leaders are directly responsible for shaping their workplace culture. They’re the minds that drive better engagement and productivity, improve morale, inspire innovation and, ultimately, increase revenue and profits because of their genuine interest in the talent and well-being of their employees.
But organisations where HR leaders lack a visible presence often suffer the consequences of this void. Only 29% of companies that have no designated HR staff, for example, are able to connect their culture with their business goals.
For those that have built their corporate culture successfully, several strategies appear to have worked, according to employees. These include:
Actively promoting company values (69%)
Regularly communicating with their teams (69%)
Enhancing employee benefits (68%)
Giving rewards and recognition (66%)
Offering a path towards employee development (66%)
Fostering diversity (61%)
Connecting people with executive leaders (60%)
Offering in-office/on-premise perks (59%)
Enhancing the onboarding experience (57%)
Improving their office space (54%)
“If you create a great place to work, great work takes place,” says Ben Peterson, co-founder and co-chairman of BambooHR.
The study encourages HR leaders to ensure their companies’ mission, vision and values are “as relevant and precise as possible,” but that they also “adapt to future changes” instead of getting locked into “rigid best practices that often become obsolete”.
One quick and reliable way is to keep listening to employee feedback through performance management software and pulse surveys.
The technique is to give culture “constant attention,” the study recommends. “Because culture evolves over time, revisit these steps often to keep it headed in the right direction.”