It’s often easier to feel a sense of culture than to measure it. Getting culture right is a constant balancing act for many organizations. Efficiency and agility are king, and leaders feel the pressure to quantify the value of every dollar spent. At the same time, people are the lifeblood of organizations, and they need the right conditions to do their best work.
Today’s leaders have no choice but to find that ideal balance. While the effects of culture may not always show up in a clear path from action to result within an organization, there are plenty of studies that quantify the effects of poor culture – and the low engagement it creates – on the company bottom line.
Businesses with successful company cultures are five times more likely to see a significant revenue increase, according to a study from the Arbinger Institute¹. And this is just one stat from an entire body of research showing the quantifiable impacts of culture on business outcomes.
Further complicating things, culture is made up of many different parts, ranging from how employees interact, how leaders behave, and even how technology supports – or gets in the way of – success. With so many potential factors that can contribute to a strong or poor culture, it can be difficult to zero in on what will truly move the needle. Organizations need a direct answer to which specific culture investments can help them attract and retain the best talent, inspire high performance, and increase agility and efficiency across the business.