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The importance of culture
Culture has become increasingly important, even to execs, in the past decade. Some of the notable findings around culture tying back to the business include:
- 94% of executives believe that a distinct workplace culture is important to their business.
- Strong cultures are associated with 20% higher productivity and significantly less turnover.
- 13 companies have appeared on every edition of Fortune’s 100 Best Companies To Work For, and those 13 companies outperform the market by 495% annually.
- 88% of job seekers consider the culture a top priority in their search.
- An average employee is 26% more likely to leave their job as the result of a bad culture. (That percentage has been shown in some studies to be higher for executive talent, who often have more options.)
- 32% of job-seekers would take a $10,000 pay cut on compensation package for a perceived great culture.
- 38% of American employees define culture and a purpose within the culture as key to their work and retention.
We know culture is a big deal, and a defining feature of modern organizations.
