The ROI Of Investing In Your Culture.
The decision to start designing your company culture, instead of leaving it form by default, can be daunting. There’s so much that needs to be done and how would you know if all that effort is going to be worth the time, energy and resources?
From my own experience, here are 10 ROIs that we have seen in companies (including our own) that have invested in their culture:
1. Purpose-Driven Commitment
Having a great culture begins with having a powerful, compelling vision. When your team is aligned to your company’s reason for existence and they buy into it both intellectually as well as emotionally, you will have a team of people who are driven by purpose and commitment. People who are contributing their time, talent and energy to a cause that is bigger than the next paycheck.
Once you achieve this level of commitment, you know you can count on them in good times as well as in bad times. Their commitment will bring out resilience and inventiveness: two qualities that can be your company’s lifeline in an economic storm.
2. Internal Motivation
Imagine your people driving themselves because they want to, and not because they have to. What kind of performance will you get? High ownership, high productivity, high job satisfaction, and a sense of pride. You will spend less time and effort on instructing and monitoring them. In fact, their energy may very well give the company leaders a boost!
3. A High Level of Learning and Growth
When people are internally motivated, they will be constantly seeking for ways to improve how they work. They become self-learners. They spend their time researching and reading to expand their knowledge, even without being asked to do so. Why? There is a high level of ownership and accountability, simply because they care about the work, the results, and the company.
4. Strong & Tight Teams
When people are united to a common cause, personal differences will seem small and unimportant. It will be easy for your team to overcome them and win as one. So you’ll find less need for teambuilding trainings.
With everyone contributing to the good of the whole, there are no selfish agendas. People can trust each other to have their backs. This environment of trust and solidarity gives people the confidence to overcome their fears in pursuit of higher and bigger goals.
5. Invigorating Brainstorms
In an environment of trust and empowerment, people are inspired to speak up and freely share ideas. This energises brainstorms and problem solving will become a breeze.
6. Wellbeing and Productivity
Numerous studies have shown that when people are well taken care of and they have work-life balance, they are mentally, emotionally and physically healthier. With this internal state of peace and wellbeing, they are able to perform better and productivity is consistently high. This is what keeps your company running like a well-oiled machine.
7. Leadership and Succession Planning
Many of today’s leaders are hard pressed to identify and groom a successor; especially as more and more people are venturing out to start up their own small businesses. When you have a strong company culture, you will have a larger pool of high performers, who understand the business direction and the culture, to choose from.
8. Improved customer service
When your people are happy, their passion and joy will ripple out to touch and energise everyone they come into contact with. It’s only natural.
Happy people tend to stay with the company longer. Hence, they understand the products and services better and can serve clients and customers more effectively.
And when they are well grounded in what the company is about and why it makes a difference, they will not hesitate to go the extra mile for customers.
9. Recruitment and Retention
Today’s Gen Ys view work as a lifestyle choice rather than a necessity. If they are not experiencing fulfillment at work, they won’t hesitate to leave. Even without securing another job.
They are also ‘searching’ thanks to the wave of articles that have brainwashed them into believing that finding their passion is the key to a happy life. If you don’t give them a sense of purpose and explain how their role contributes to the bigger picture, they can be easily lured away to try something different.
The companies that successfully attract and retain Gen Ys have a vibrant and dynamic culture that harnesses their potential and channels it into a meaningful cause and purpose that makes them feel good.
10. Business Growth
Leaders who don’t have to waste their time on internal fire-fighting can focus their attention on the external landscape to anticipate future opportunities and strategise for growth.
Your company culture is the glue that drives results. Despite having the greatest strategy, if people are not activated, no amount of pushing can move them. But when they are, you’ll find your people driving themselves.
There are times at 95% when I spend several days away for C-Suite retreats or trainings and I am totally unplugged from the office. It’s always a pleasant surprise when I come back to the office. It’s like the story of ‘The Elves and The Shoemaker’ by the Grimm Brothers: while I’ve been away, my people have got so much work done!
If you are a leader in your company and you’d like to see how this can be applicable to you, I’m more than happy to meet up to share my experience with you. Drop me an email at firstname.lastname@example.org and let’s chat!