The word ‘culture’ is one you hear a lot in almost every business. The importance of culture in the workplace, according to some industry experts cannot be overstated. The culture of any corporation or business affects every aspect of how the business aligns with its goals and objectives.
According to an article appearing on the HR Dive website, a recent study conducted by Gartner indicates that just 31% of HR managers feel that their respective organizations have the kind of culture it needs. In its findings, Gartner suggests that Chief Human Resource Officers or CHRO’s should team up with CEOs to help transform common cultural concerns in the workplace.
According to Gartner’s managing VP, Bryan Kurey, business culture is important, but it has its limits. “Investors, regulators, and prospective and current employees all expect leaders to be responsible and accountable for their organization’s culture,” Kurey said in a statement. “And CEOs need the culture to actually drive business strategy and results. But culture initiatives don’t automatically return the investment.”
With companies spending on approximately $2,000 on average on each employee on culture initiatives, Valerie Bolden-Barrett suggests that CEO’s and HR professionals alike should get employees’ views and experiences to determine areas of improvement.
Barbara Porter, now managing director at EY in Chicago, knows that it isn’t just about what makes people happy, but rather aligning culture with business objectives. “If you’re just focused on making people happy, you will lose money and go out of business,” Porter said.