In a recent blog I wrote about the value of creating and managing a strong and positive corporate culture because it helps to attract the best employees. Of course it doesn’t only attract great people – it helps you to keep them on the team too.
It is facts like this that are often overlooked when many commentators write about corporate culture. Although it is often talked of as a soft benefit that is just ‘nice to have’, the reality is that there are many hard measurements of success related to a positive culture. I mentioned employee satisfaction before, but think about how it affects business relationships too.
Your company is not judged by what you say in your marketing and advertising materials. You are judged by what you do and how you do it. Customers know exactly how well you are doing because they all talk to each other. There is nowhere to hide today.
If customers and business partners buy into the culture of your organisation then you will have far greater sale success. This is becoming a critical component of board governance because companies without any defined culture will struggle (or fail) in an environment where every customer can ask others what they think of your brand before ever engaging.
The Fortune Knowledge Group worked with digital agency gyro recently asked 500 senior decision makers for their views on brands, corporate culture and the relationship to trust. The main funding was that a strong culture is now the primary driver for long-term business relationships.
60 percent of the executives questioned said that a strong culture is far more important than whether a potential partner is innovative or dominates their marketplace. 81 percent said that they believe companies that are good at building long-term relationships are good at doing what they say they will do.
It’s easier than ever to see through phony executives and companies that claim to be changing the world, yet their actions don’t connect to the marketing.
Focusing on the values of your business and ensuring that culture shines in every action is not just a nice thing to do. This is how you attract the best people to your team and how to build the best, longest-lasting, business relationships.
What is your organisation doing to improve corporate culture so your values are obvious to potential partners and customers?