Majority of companies don’t measure culture
Seven out of every 10 companies (69 percent) are not measuring culture, despite 93 percent of executives saying they are attuned to company culture and have taken steps to strengthen it.
Using data from the survey, Grant Thornton, with assistance from Oxford Economics, created a correlation and regression analysis to determine the strongest links of organizational culture and business performance outcomes. The Return on Culture benchmarking tool, now publicly available for free, measures five critical culture aspects:
- Workplace environment
- Sense of community
- Executive investment in employees
- Purpose and value system
“We now have a great new resource for executives who care about their people and their bottom line, but are unsure of the first step to take to create a healthy, high-performing culture,” said Smith. “It takes just a few minutes to use our online benchmarking tool, where results are displayed immediately and shareable via email. Our team members are available for consultation to dig deeper into specific organizational results.”
About Return on Culture
The Return on Culture study by Grant Thornton and Oxford Economics surveyed 500 executives and 500 employees in the United States during the third quarter of 2018. Survey respondents were from five industries: asset management, banking, information technology, life sciences, and manufacturing. The companies surveyed range from $200 million to more than $5 billion in revenue.
About Grant Thornton LLP