Good news for the bottom line. According to a recent survey, employees in the U.S., U.K., France and Germany rated working for a company with a strong company culture as more important than higher pay.
Specifically, 56% of polled workers said culture was more important than salary. Company culture mattered more to younger workers than older ones on average. Other findings include the fact that a vast majority, 73% of workers, take an organization’s values into account when deciding whether or not to apply for a job.
Two-thirds of respondents reported that their company’s culture was one of the main reasons for staying in their job. 70% said they would look elsewhere for work if their company’s culture deteriorated.
Enough numbers? Right, then let’s figure out what it means.
It certainly does not mean that companies can begin slashing salaries. These numbers speak to the fact that corporate culture is incredibly important, not to the fact that compensation doesn’t matter. And doing company culture right is by no means cheap or easy.
If you suspect your company has a culture problem, here are some steps you must take to create culture change and make it stick.
- Clearly define (in writing) a set of desired values and behaviors
- Align your culture with company strategy and internal processes
- Connect your culture and accountability
- Have visible proponents of change
- Define the non-negotiables of the strategy
- Align your culture with your brand
- Measure and report on progress, rinse and repeat!
For a more nuts-and-bolts take on how to build and scale company culture, check out this article from the Harvard Business Review.
Company Culture at IRD Glass
At IRD Glass, our company culture is inspired by small town, upper-Midwest values like honesty, integrity and hard work and Christian values like stewardship and charity. That’s why for over 37 years, we have given out scholarships to employees and their families and donated 5% of gross sales to charity and matched all employee charitable donations.