82 per cent of executives believe culture affects business performance
The majority of employers believe corporate culture affects business performance, accroding to a recent study.
Other key findings:
• 61 per cent of executives say their organization's corporate culture drives sales and increases revenue, 53 per cent say it lowers turnover and 57 per cent say it gives a sense of belonging.
• 81 per cent of executives surveyed say that their current leadership has lead to the creation of their organization's culture;
• 90 per cent of executives surveyed believe that a new leader can change an organization's corporate culture;
• 46 per cent of executives surveyed have a process for integrating new leaders with their corporate culture.
• 80 per cent of executives surveyed define corporate culture as leadership's behaviours;
• 74 per cent define corporate culture as an organization's values;
• 72 per cent define corporate culture as employee's behaviours.
• 68 per cent of executives surveyed say their organization's corporate culture has a strong impact, or, a very strong impact on their ability to retain top talent.
• 62 per cent of executives surveyed say cultural fit is more important than necessary skills, in the hiring of new talent.
Waterstone Human Captial's Most Admired Corporate Cultures 2008 study, based on interviews with 340 senior Canadian executives, found 82 per cent of executives believe culture has a strong, or very strong, impact on an organization's performance.
As part of the study, Waterstone also compiled a list of the top 10 most admired corporate cultures.
