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Why investing in culture will unleash your business potential
This is an abridged version of an article that first appeared in SALT magazine: to read the full article please click here.
Building a healthy, values-led culture isn't easy - it takes real effort and investment. But over our last ten years of working with firms to help instil values-led cultures, we’ve seen time and time again how much more a business can achieve when it gets culture right. We believe that there are three main benefits that flow from a healthy and aligned culture:
1 Higher productivity, higher revenues
A healthy and aligned corporate culture allows employees to bring their whole self to work – boosting your bottom line in the process. Remember: this isn’t just about cutting down on sick days and reducing employee turnover. It’s about how much more employees bring to the table when they feel listened to, supported in their roles and aligned to the wider purpose and cultural values of the business.
2 Culture differentiates and helps you compete
Just as customers engage with your core purpose – the “why” of your business, they are also sensitive to your values and culture – the “how” of your business. In fact, it’s strong cultures that bring your purpose to life. This means that culture and values are powerful sources of competitive advantage.
As Zappos CEO Tony Hsieh says, “if you get the culture right, most of the other stuff like delivering great customer service or building a long-term enduring brand will just happen naturally on its own”.
3 Culture makes you stronger and more agile
If your decisions are guided by a strong sense of shared purpose and lived, values-led culture, your business will be in a stronger position to survive and thrive in uncertain and complex market environments – not least because your employees at the coalface will have a solid foundation from which to respond and act with creativity and commitment. Resilient organisations and agile leadership flow from a healthy and aligned workplace culture.
To learn more about the commercial benefits of investing in culture, please read our full article in SALT magazine here.