During this initial hour of research, we were able to find several insights related to the benefits of a strong corporate culture. We also provided examples of eight companies that have created strong cultures. Our findings indicate that there is an abundance of available information on this subject.
Benefits of a Strong Corporate Culture
- A strong corporate culture helps businesses create a positive identity and establish meaningful company values.
- It can lead to a higher rate of employee retention, which cuts onboarding costs that can result from excessive staff turnover. Two-thirds of workers say that company culture is a main reason for sticking with a job.
- Fostering a healthy company culture can also lead to happier and more productive employees.
- A recent survey found that 56% of workers would prefer a strong company culture to higher pay. Of Millennials surveyed, 65% would choose culture over higher pay rates "compared to 52% of Americans over the age of 45."
- A strong culture also contributes to the company's brand image, which can result in increased consumer loyalty.
Other Insights Related to Corporate Culture
- Millennials play a significant role in motivating corporations to establish stronger cultures, and they have been known to commonly make employment decisions based on a company's culture.
- According to the Harvard Business Review, black female employees in particular are looking for corporate cultures that help them "feel supported in ways that are specific to being a woman of color."
- Company culture can also involve the types of employees businesses hire. For example, employees that perform well but intentionally foster disharmony are referred to as "emotional vampires" and can negatively impact corporate culture.
Companies with a Strong Corporate Culture
In addition to this public search, we scanned our proprietary research database of over 1 million sources and were unable to find any specific research reports that address your goals.