It’s easy to take your company’s culture for granted. You can’t measure company culture on a balance sheet nor is culture a line item when you’re determining quarterly profits. But it should be. Your company’s culture is critical to its success. And when you learn how to measure your company culture’s return on investment (ROI), you can learn how to make your business more successful.
Why Culture Matters
Organizational culture is defined as “the values and behaviors that contribute to the unique social and psychological environment of an organization.” An established company culture will often affect how employees approach all aspects of their job. It will color their ethics, their loyalty, discipline, and their drive to accomplish tasks and be successful. Understanding your company culture will help you reinforce the positive aspects of it, and improve the areas where it’s flagging. All of this will help optimize your company.
So how do you measure your company’s culture? One of the best ways is to observe your employees, and how they act in certain situations. How do they handle clients, or perform when you or the managers aren’t there? You can also commission organizational climate surveys to determine exactly how your employees feel about the company. Statistics like employee retention and turnover rates are helpful for measuring your company’s climate as well. Finally, surveying your customers can provide powerful indicators about your culture, too.
Getting Culture Right
If, in assessing your company’s culture you determine a critical flaw, don’t fret; you can fix it. If part of your organizational culture is impeding your company’s success, you could establish a clear policy to address it. Sometimes training can help employees overcome challenges related to culture as well. Finally, if all else fails, direct, decisive leadership can help improve your company’s organizational culture.
Company culture may not show up on a balance sheet, but it is still important. Make sure you get it right. And don’t forget the team here at VerifiaBill. We can take care of your insurance bills so that you have time to focus on improving your culture ROI and making a profit!