Workplace Culture Drives Company’s Financial Performance

by CXOtoday News Desk    Sep 12, 2017

culture

Corporate culture is an incredibly powerful factor in a company’s long-term success. No matter how good your strategy is, when it comes down to it, people always make the difference. As Peter Drucker so wisely stated, “Culture eats strategy for breakfast.”

Based on these assumptions Dale Carnegie Training India organized the second edition of the Dale Carnegie Expert Forum 2017 in Mumbai. The event is an exclusive annual roundtable series bringing together some of India’s foremost thought leaders and opinion-makers to brainstorm, challenge conventions and provide perspective on concepts critical for organizational success.

The theme of this year’s roundtable discussion was: Driving Engagement through Organizational Culture: How to Transform Attitudes and Actions to Create Successful Workplace Cultures. 

Along with the event, a research report on ‘Transforming Attitudes and Actions: How Senior Leaders Create Successful Workplace Cultures’ was launched. The discussions of the roundtable were based on a survey of this report conducted amongst 600 senior leaders across four countries i.e., India, United States, Germany and Indonesia. 

The research examined 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. The research findings revealed:

- 92% of the leaders from successful companies believe that workplace culture has high impact on company’s financial performance

- The top three things successful companies are doing to improve their culture through engaging employees are: providing developmental training (43%), improving workplace conditions (37%) and creating clear paths for career advancement (30%)

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

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.”

According to her, 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.