New Survey from The Alternative Board Reveals What Makes Strong Company Culture
A new survey from The Alternative Board measured strong company cultures against weaker ones to see how leaders can foster a more productive & profitable work environment
Denver, CO (PRUnderground) October 4th, 2016
The Alternative Board‘s September 2016 Small Business Pulse Survey surveyed hundreds of businesses owners to differentiate between strong company cultures and weaker ones, based on factors such as flexibility, leadership style and profitability. While 93% of the entrepreneurs surveyed agreed “promoting company culture boosts productivity and creativity,” they weren’t so unanimous on how to create that kind of culture.
“It’s obvious that small businesses benefit from a positive company culture,” says TAB Chief Marketing Officer Jodie Shaw. “What we’re gaining from this survey is new insight into the kinds of business practices that create a positive, profit-driving culture.”
For example, 78% of business owners who identified their company as having a “strong company culture” agreed that flexible schedules make employees more productive, but only 58% of business owners who described their culture as “average or weak” felt the same way. Along the same lines, business owners who thought their company had a “strong culture” were 13% more likely to see telecommuting as a productivity-boosting practice compared to owners who did not think their company had a strong culture.
According to the Association for Talent Development, “Offering a flexible work arrangement is an effective way to boost engagement without additional payroll expense. Flextime, compressed workweeks, and telecommuting options are currently some of the biggest perks potential employees are looking for when selecting an employer. Organizations that do not offer these options will miss out on recruiting top talent and may even lose skilled employees to companies that offer better work-life balance.”
The majority of average/weak culture business owners selected “demonstrating stronger leadership,” as their top goal for establishing company culture, while strong culture business owners selected “strengthening the personal connection between employees and customers.” Based on these results, it seems a stronger company culture focuses on the employee’s role first and the leader’s second.
Business owners who identified their company as having a “strong culture” agreed that their culture increased profitability. Only 20% of entrepreneurs who thought their business had an average or weak culture agreed, however.
“Average/weak culture owners might see a bigger benefit if they put more emphasis on employee satisfaction,” says Shaw. “According to the numbers, a good place to start is increased flexibility and helping employees understand how they fit into the bigger picture of the business.”
The Alternative Board is an international provider of executive peer advisory boards, with over 3,000 members worldwide. For full survey results, executive summary or to schedule an interview with Jodie Shaw, contact Lynn Maleh at lynn(at)contentfac(dot)com.
About The Alternative Board
The Alternative Board helps forward-thinking business owners grow their businesses, increase profitability and improve their lives by leveraging local business advisory boards, private business coaching and proprietary strategic services.