How can you measure a company's culture? Tom Peters, corporate consultant and coauthor of the management book “In Search of Excellence: Lessons from America's Best-Run Companies”, proposed an insightful solution – ask yourself would you want your son or your daughter to work here?
You can tell a lot about a company’s culture by observing simple day-to-day internal behaviors and activities like how employees communicate with one another, how decisions are made, how milestones are celebrated, both small and large, how employee retention is done, how new ideas are encouraged or discouraged, etc. The answers to these questions serve as indicators pointing to either a positive or a negative culture. The 2022 Axios Harris Poll 100 reputation rankings analyzed the perception of some of the most visible brands in America based on seven key dimensions of reputation including culture, trust, ethics, growth, vision, product / service, and citizenship or community. According to the survey’s findings in 2022, Trader Joes took first place. Why? Employees enjoy working there and customers enjoy their experience shopping there. The brand is able to accomplish both internal and external initiatives to serve and retain employees and to manage a positive outward brand image, too.
For a company, the most important people are the people who they are serving. This includes both the employee and the customer. Company culture can make all the difference in a business and it has a direct impact on key success metrics such as financial performance, employee fulfillment and retention, customer experience and satisfaction, and growth. Organizations that prioritize culture and employee satisfaction often reap the rewards of better customer service, creating a positive feedback loop for success. This is especially clear in industries that are more customer-facing like financial services.
“Corporate culture is important because we want everyone to feel welcome and a part of the team. Purposeful and happier employees make happier customers which in turn helps us to accomplish our core mission, keeping our clients’ interests at the core of everything we do at CoreTech.”
–– Amy Hall, SVP of Client Experience
Businesses that don't prioritize developing a culture of shared values are unlikely to stand the test of time. People are the heart and soul of a company’s success or failure. Making the investment in people and being regarded as having a good company culture will pay off significant dividends that are sure to transcend both time and trend.