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How to transform your company culture
@PeopleSparkHQ
… and retain your best people
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trans·for·ma·tionnoun
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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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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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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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 youneed to focus on
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CommunicationTransparency
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CommunicationTransparencyManagement
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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 defensiveGive everyone an equal voice, regardless of
title
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Listen without getting defensiveGive everyone an equal voice, regardless of
titleProvide 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 employeesBe open with employees about important
issues
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Share more, more often with employeesBe open with employees about important
issuesGive 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 CultureSnowball
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The Culture Snowball Formula
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The Culture Snowball FormulaMore
communicationMore transparency
More action
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The Culture Snowball FormulaMore
communicationMore transparency
More action =Happier employeesHigher productivity
Lower turnoverRevenue 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
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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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