‘Workplace culture has high impact on financial performance’

By Author   |   Published: 12th Sep 2017   5:42 pm Updated: 12th Sep 2017   5:56 pm
Workplace Culture

Mumbai: With workplace culture being a top priority for companies globally, most leaders believe that it has high impact on an organisation’s financial performance, according to a survey.

“About 92 per cent of the leaders from successful companies believe that workplace culture has high impact on company’s financial performance or is critical to reaching financial goals,” according to Dale Carnegie’s white paper on ‘Transforming Attitudes and Actions: How Senior Leaders Create Successful Workplace Cultures’. “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 per cent differential outcome on company’s performance,” Dale Carnegie Training India Chairperson and Managing Director Pallavi Jha said. She said, it is very interesting to know that almost 95 per cent of the respondents feel they prioritise workplace culture.

“But one needs to know that corporate culture runs deep, the fact that it’s embedded in nearly everything an organisation thinks and does is what makes it so powerful – and so hard to transform,” she added. The survey was conducted amongst 600 senior leaders across four countries, including India, United States, Germany and Indonesia.

Further, it revealed that 84 per cent of executives from leading organisations are currently taking measures to enhance their workplace culture. However, just 21 per cent of 600 senior leaders in the survey across four countries said their own corporate culture is ‘excellent’.

According to executives from all companies in the survey, the top three things companies are doing to improve their culture through engaging employees are providing developmental training (43 per cent), improving workplace conditions (37 per cent) and creating clear paths for career advancement (30 per cent).