According to a recent study, companies with a positive corporate culture make more money than their counterparts. The results of Canada’s 10 Most Admired Corporate Cultures for 2008 were discussed in a recent article in the Vancouver Sun. The three year average revenue growth, as well as the three year average asset growth of this year’s top 10 companies was 63 per cent higher than than that of the 60 largest public companies in Canada listed on the S&P/TSX 60.
What are the benefits of a strong corporate culture? According to the results, they include lower turnover, giving employees a sense of belonging and improved corporate performance. Many of the top 10 companies, like Westjet, have created business models around their corporate culture.
Given today’s uncertain economic times, companies cannot afford to ignore corporate culture and risk worsening economic performance if they fail to build a strong corporate culture. For assistance on improving your company’s corporate culture, please contact Clear HR Consulting for an initial consultation.
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