How To Calculate The ROI On Company Culture
CleanLink.com and its three sister publications have run a number of stories on the importance of company culture, and for good reason. Bad company culture frustrates employees, hurts customers, and hamstrings a company's bottom line. Conversely, good company culture creates happy employees, who treat their customers right. Happy employees and customers help a company to grow and attract top talent.
While it's know company culture is important, how does a business calculate the impact its culture is having on its bottom line? According to Forbes, there are ways for a business to determine what return on investment they're getting from their company culture. The following is a brief recap of that listing:
1. Survey new hires on their perceptions of the company's culture.
2. Conduct regular engagement surveys of all employees.
3. Ask employees straight up if they think the culture helps them to perform well.
4. Find out if the workers are happy and productive.
5. Identify what is preventing growth.
6. Find out if the company is an empathetic one.
7. Use social-recognition platforms.
8. Figure out how many of the company's hires come from direct referrals.
9. Make sure the culture fits the company's aspirations.
10. Compare star employees against those that struggle.
11. Is the company doing what it is supposed to do?
For a greater explanation of the tips Forbes provided, read its article here.
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