The good news is that these goals are compatible and mutually beneficial.
McKinsey’s latest analysis shows that companies with greater diversity on their boards are 27% more likely to achieve better financial results than those in the bottom quartile.
The Essence of a Positive Organizational Culture
Often, companies promote their organizational culture with superficial benefits. However, the true essence of a solid positive organizational culture lies in how people are valued. It involves open communication, mutual respect, shared goals, and a genuine commitment to employee growth. At least that is what the results of a study published by The Great Place to Work tell us:
Transparency
A crucial factor is transparency. According to their data, in the best companies, 83% of employees consider their leaders to be honest, compared to 42% in average companies. People who work in companies with higher rates of transparency are five times more likely to want to stay long-term and 11 times more likely to consider their workplace excellent.
“In the best companies, 83% of employees believe their leaders to be honest.”
Respect
If we want respect to be an indispensable ingredient in organizational culture, it must be modelled from the top. The study concludes that companies with a positive organizational culture show respect by recognising employees’ efforts, considering their opinions, and caring for their well-being.
Pride
Employees who feel proud of their workplace believe in the company and what it represents, from its products to its impact on the local community. Receiving fair pay for their work makes employees twice as likely to consider their workplace excellent. However, when employees are proud of their work, they are 20 times more likely to say their work environment is excellent, according to The Great Place to Work.
Belonging
Companies with a positive organizational culture do not just say they value their employees; they demonstrate it. They celebrate employee achievements, ensure new members feel welcome from day one, and embrace diversity. The result, according to the research, is that employees with a strong sense of belonging are three times more likely to be excited to go to work and five times more likely to want to stay at the company long-term.
Innovation and Creativity
When leaders create a safe environment to express ideas and make suggestions, employees are 31 times more likely to see their workplace as a breeding ground for innovation. Cultures that encourage innovation inspire loyalty, trust, and a greater willingness to give their best at work.
Considering all this, we could say that a positive organizational culture goes beyond superficial benefits. It could be argued that it’s based on pillars such as transparency, respect, pride, belonging, and innovation. These qualities have the potential to create a healthy and productive work environment, which, in theory, could contribute to the sustained success of the company.
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