Looking to increase profit by 4X? Build a positive culture:
We had Carrom Boards & Table Tennis in our office back in the day. It was exciting.
I told my father we have these in our office, he was amazed. He said all they had was a tea shop near his office and having one tea is a gift and second is a luxury.
All the above would be meaningless to my daughter.
I work with clients across industries and geographies, the challenges each business faces are unique. Very different from one another.
But one challenge every business face and every entrepreneur agrees is a huge deterrent for growth: "HIRING & RETAINING TALENT"
From my Father to me, the change is not drastic, there was change but it was not disrupting. That's not the case post 2010. 10 years has changed the way people perceive jobs.
If a college student can work part time on Swiggy and Zomato and earn decent enough to afford an iPhone, a fancy bike and his tuition fees, how could offering just a salary will impress this generation.
Money is not the only expectation for Gen Z & After.?
What is it? COMPANY CULTURE!
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So what is company culture?
Below is the screenshot of a?LinkedIn Report ?and a survey about the importance of culture in the younger generations.
The four points above are great pointers and the must-haves to build a positive work culture!
7 Factors that impact culture in an organisation:
Conclusion:
A study says companies with a positive workplace culture experience 33% higher revenue growth and 4x higher profit growth compared to those with a negative culture.
That's a fact! A good culture encourages open communication, collaboration, and recognition of employees' efforts. Whereas, a toxic culture can cause high turnover rates, low morale, and even legal problems. So, investing in building a positive culture through values, communication, training, and being proactive in letting go of toxic employees can lead to a flourishing workplace and a successful business.
Next Edition: 7 Factors that impact culture in an organisation (in detail)
"Data Analyst | Business Analyst | Power BI & Excel Specialist | Rehabilitation & Resettlement Expert in Land Acquisition | Voyants Solution Pvt Ltd"
1 年Good luck withiikikKii momin 8k8
"Data Analyst | Business Analyst | Power BI & Excel Specialist | Rehabilitation & Resettlement Expert in Land Acquisition | Voyants Solution Pvt Ltd"
1 年Good luck with
"Data Analyst | Business Analyst | Power BI & Excel Specialist | Rehabilitation & Resettlement Expert in Land Acquisition | Voyants Solution Pvt Ltd"
1 年Good luck with k iimkmim koninklijke iKIk8i
Student at Cotton University
1 年Keep growing Sir.I am looking forward to hear your stories in your newsletter Sir
Business Strategist | Growth Hacker | Problem Solver | Trainer | Sales Coach
1 年Mani Maran Ramalingam Wonderful write-up! Culture matters more than salary in fact. I can never forget, in one of my previous employment I used to go happily to the office on Monday morning and that is rare in most companies. Though the package was low I used to work there for about three years and the only reason for staying with the company is culture..! As an employee, I have enjoyed the culture and now in entrepreneurship would like to build a culture for people as I have enjoyed. Wanna read more from you and waiting for the detailed edition of this..!