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How to transform your company culture

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How to transform your company culture @PeopleSparkHQ … and retain your best people


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trans·for·ma·tion noun A change or alteration, especially a radical one.


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Companies with engaged employees outperform those without by up to 202%


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71% of employees are not fully engaged


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64% of all employees do not feel they have a strong work culture


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“Right now there’s a realization that bringing in top talent is critical to the success of every company, and the competition for talent is fiercer than ever. So there’s a lot of focus on how to gain a competitive advantage” Ben Ling, Khosla Ventures


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49% of all employees are not satisfied with their direct supervisor


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More than 1 in 4 employees do not have the tools to be successful in their jobs


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87% of the global workforce is disengaged


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Learn how to build an incredible company culture - follow us: Twitter Blog Slideshare Before we continue...


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Only 21% of employees feel strongly valued at work


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Peers and camaraderie are the #1 reason employees go the extra mile, not money


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There’s 2.5x more revenue for companies with engaged employees versus competitors with low engagement levels


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Highly engaged employees are 87% less likely to leave the company they work for than their counterparts


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$11 billion is lost annually due to employee turnover


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89% of employers think their people leave for money


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But only 12% of employees actually do leave for more money


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75% of people don't quit their jobs; they quit their bosses.


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Turnover at companies with a great culture is just 14%


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Turnover at companies with a poor culture is 48%


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“Loyal, passionate employees bring a company as much benefit as loyal, passionate customers. They stay longer, work harder, work more creatively, and find ways to go the extra mile. They bring you more great employees.” Rob Markey, Bain Consulting


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Happy workers are 12% more productive than the average worker and unhappy workers are 10% less productive


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Unhappy employees take 15 more sick days each year than the average worker


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63% of employees are not engaged at work and 24% are actively disengaged, leaving just 13% engaged in the work they’re doing


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Low engagement results in a 33% decrease in operating income and an 11% decrease in earnings growth


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High engagement, however, results in a 19% increase in operating income and 28% increase in earnings growth


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90% of leaders think an engagement strategy has an impact on business success


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Less than 25% of them actually have a strategy


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Companies who collect regular employee feedback have turnover rates 15% lower than companies using annual surveys


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“To make customers happy, we have to make sure our employees are happy first.” Tony Hsieh, Zappos


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Increasing employee engagement investments by 10% can increase profits by $2,400 per employee, per year


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Whether you’re a Fortune 500 or a startup, you can turn your company culture around and watch both enthusiasm and revenue skyrocket


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How?


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First and foremost, you must be open to listening without getting defensive.


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Happy employees lead to:


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Higher productivity, quality, and service, which leads to…


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Higher customer satisfaction, which leads to…


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Increased sales via repeat business and referrals, which leads to…


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Higher levels of profit, which leads to…


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Higher shareholder returns (stock price or valuation)


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Learn how to build an incredible company culture - follow us: Twitter Blog Slideshare Before we continue...


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To summarize everything we’ve just talked about...


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Start to improve your company culture and everything else follows soon after


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But what can you do to improve your company culture?


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There are only 3 things you need to focus on


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Communication


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Communication Transparency


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Communication Transparency Management


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How can you improve company-wide communication?


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Listen without getting defensive


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Listen without getting defensive Give everyone an equal voice, regardless of title


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Listen without getting defensive Give everyone an equal voice, regardless of title Provide a way to share feedback anonymously


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How can you be a more transparent company?


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Share more, more often with employees


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Share more, more often with employees Be open with employees about important issues


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Share more, more often with employees Be open with employees about important issues Give everyone a say, not just managers


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How can managers help - not hinder - your culture as you grow?


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Know which managers are hindering their teams


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Know which managers are hindering their teams Ask employees for feedback about their manager


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Know which managers are hindering their teams Ask employees for feedback about their manager Fire or train poorly performing managers


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A continuous focus on these 3 areas will create a culture snowball


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The Culture Snowball


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The Culture Snowball Formula


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The Culture Snowball Formula More communication More transparency More action


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The Culture Snowball Formula More communication More transparency More action = Happier employees Higher productivity Lower turnover Revenue growth


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How can PeopleSpark improve your company culture and help you retain your best people?


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By improving the quality and frequency of communication between leaders and their teams


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Companies using PeopleSpark tell us they experience:


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Frequent, effective communication that’s bottom up not top down


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A transparent culture where all employees have an equal voice


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Employees who are happier, with extremely high retention rates


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Surveys Ideas & Feedback Insight Request an invite Are you ready to transform your culture? Listen to your employees and retain your best people with PeopleSpark - the employee feedback platform.


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Learn how to build an incredible company culture - follow us: Twitter Blog Slideshare


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