The Power of Business Culture Change

Business culture change brings considerable benefits to any organisation looking to grow and succeed in today’s dynamic business environment. According to a study by Deloitte, more than 80% of executives believe that culture is critical for their company’s success. However, only 19% of them believe that their culture is where it needs to be.

Changing the culture of a business involves a dialogic process of changing the shared assumptions and beliefs that govern how people work together.

Research shows that the most successful culture change initiatives involve everyone in the process, with people setting the tone for the desired culture through conversations, workshops, etc.

One of many metrics for measuring the success of culture change is employee engagement. Engaged employees are more productive, innovative, and committed to their work. Gallup’s State of the Global Workplace report found that only 15% of employees worldwide are engaged at work, with the remaining 85% either not engaged or actively disengaged.

However, companies that prioritise culture change can see significant improvements in employee engagement. In a study by the Corporate Leadership Council, organisations with high engagement levels outperformed those with low engagement levels by 19% in operating income and 28% in earnings growth.

In conclusion, business culture change is a crucial aspect of organisational success, and it benefits from a deliberate and systematic approach. By focusing on metrics such as employee engagement, businesses can track the effectiveness of their culture change initiatives and make data-driven decisions to continuously improve.