A company’s culture defines the beliefs, behavior, how the employees interact and work within the guidelines of the business. It is an intangible asset and can be developed over a period of time with the help of a corporate wellness program.
Why should you invest in your company’s culture?
It is directly related to the ROI of your company! Most companies are unaware of the effect of investing in their employees.
- It will increase the employee’s performance
- Boost their productivity levels
- Which directly will boost your company’s financial performance
- And also attract new customers because of the happy employees
- Helps in recruiting better candidates as the company’s culture plays a role in attracting them
- Helps to build employee loyalty towards the company
- Which directly reduces the turnover rate and increases the retention rate of the company
How to measure a company’s cultural ROI?
1. Employee Survey
Regularly interact with employees through surveys to understand their outlook towards matters concerning the company. With a survey, a large amount of information can be collected depending on events happening at the company. After the survey is completed, acting on it is the key success factor of the survey. Because you not only have to listen to your employees but also acknowledge them with your actions.
2. Calculate employee morale, productivity, and turnover.
Another method to calculate is employee morale, productivity ad turnover rate. If a company’s values and missions are set well and communicated with the employees the right way, then the company costs are lower because the employee retention and productivity is at a high scale.
3. Measure profitability
When the employees are in line with the company’s objectives and views, their productivity increases and which results in higher profitability for the company. A company’s culture contributes to its profitability as employees are more loyal and focused on their daily tasks
Work with Fitternity to make your workspace happier and better! Check out our Corporate Wellness Initiative to get more information.