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Dec

2011

What Great Companies Know About Culture

"But is there a direct correlation between employee investment and the balance sheet? As Prof. James L. Heskett wrote in his latest book The Culture Cycle, effective culture can account for 20-30 percent of the differential in corporate performance when compared with "culturally unremarkable" competitors. "

blogs.hbr.org/...great_companies_know_abou.html

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bestplacetowork culture engagement human resources talentmanagement retention talentretention

The survey garnered responses from 20 of the top 25 companies in the global workplace ranking. Here's what those companies do in common:
They invest more in their employees. The response came back resoundingly: It's simply good for business.
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- Instead programs that offer the most stability, as reported by 75 percent of respondents, are those that communicate brand mission and provide career development opportunities.
- They recognize that culture is critical to talent retention. When asked which elements of workplace commitment most benefit daily operations, companies ranked culture at 80 percent and recruitment/retention at 70 percent.
- They know their audience. These companies recognize which stakeholders will watch their every move. For this audience, it's imperative to communicate the company's commitment to being a great workplace. 70 percent of respondents ranked customers as the most important external audience to understand this crucial point
- Becoming a great workplace is not a transition that will happen overnight. Being a great workplace is the result of a long-term investment in their employees.

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