The Culture Fix Audio Companion: Chapter 9 - ROI
The Bottom Line. Yes, Culture can have a positive qualitative effect on a company (if done well), but can it bring a financial return? The answer is an emphatic yes. In fact, given the shockingly low initial cost, investing in the Culture of a company can bring a great return on investment.
Culture is often an afterthought in the day-to-day operations of a company. For the vast majority of organizations it is dealt with in a reactionary manner. If you don’t treat Culture in a proactive way, a default culture will inevitably arise. This default culture in counter-productive in most cases. Creating a Culture which is in harmony with the goals of a company will produce a positive impact on the bottom line, and that is good for everyone.
Will Scott once again sits down with Dr. Jeremy Weisz to explore Will’s new book The Culture Fix. This week they discuss the financial returns on investing in Culture, and how to quantify it, as well as some real-world examples of companies getting a positive ROI from investing in Culture.
Want to hear more from Will?
Subscribe to Culture Czars podcast on:
Here’s a glimpse of what you’ll learn:
[01:59] Corporate Culture has a low investment cost, yet very high potential for returns
[02:50] Rating the health of the culture of a company once a year to measure success
[03:25] How to measure the success of Culture
[03:55] Measuring the financial performance of companies as they relate to culture, with real-world examples
[04:45] How the successful company of SABRE measured the success of their Culture
[05:28] Culture is the first priority for a successful company
[06:45] What can happen when the Culture of a company is bad, even to leadership
[07:55] The transformation in mentality which SABRE underwent to transform the Culture, and their ROI because of it
[09:15] How to get the general employees on board with a new Culture
[11:05] The free workbook which you can find on CultureCzars.com