Return On Culture – Proving the Connection Between Culture and Profit – Grant Thornton

The Grant Thorton’s Return on Culture: Proving the connection between culture and profit report is a pioneer study which delivers statistical evidence that investment in culture translates to tangible financial benefits.

Some main finding from this report includes:

• Only half of the employees surveyed claim they understand their organization’s vision and objectives.
• When 76% of managers think the value system of their organization is well communicated and understood, only 31% of employees agree with them.
• Over the past 3 years, organisations that have exceptionally healthy cultures are 1.5 times more likely to see average revenue growth of more than 15%.
• Out of all the culture inputs, “Sense of Community” and “Executive investment in employees” are given the highest weight in relation to business performance.
• Employees who think their organizational culture is healthy are 1.7 times more likely to agree that they have an effective team collaboration, 1.3 times more likely to believe that their organization obtains repeat business effectively and 2.4 times less likely to quit their job in the next 12 months.
• More than half of surveyed senior managers think that having a satisfying workplace environment is important to employee loyalty, however, only 36% of employees believe the physical workplace is crucial to their loyalty.
• 69% of organizations are not developing metrics to oversee areas that are critical to healthy organizational cultures, although 93% of senior managers claim that they recognize the importance of organizational culture and have taken actions to enhance it.

Grant Thornton is a leading business consultant that assists driving organizations to unlock their growth potential.

Full report here.